Posts tagged as:

deficit spending

Time to Tackle Entitlements

February 16, 2011

It’s going to be an interesting two years.  The GOP, at the prodding of Rep. Paul Ryan (R-WI) and the GOP Freshman Class, is apparently serious about attempting to tackle entitlement reform this year.  Obama’s sham budget does nothing to address the fiscal mess that we have gotten ourselves into, and the GOP appears ready [...]

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How Much We Really Spent on Iraq

August 22, 2010

Just a few days ago the last combat troops left Iraq putting an end to that phase of the conflict.  On September 1 it even gets a new name, Operation New Dawn.  Last week I repeated an estimate which indicated that the war itself cost roughly $1 trillion to fight.  It turns out I was [...]

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Deficit for FY-2010 Clocks in at $430.69 Billion

February 17, 2010

The Federal Deficit has clocked in at $430.69 billion through the first four months of FY-2010 (the federal fiscal year starts in October).  If the deficit continues on this pace, it will clock in at $1.29 trillion, although it is expected to clock in even higher at $1.59 trillion (I guess the government is going [...]

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Previously “Temporary” Measures Made Part of Obama’s Baseline Budget

February 11, 2010

It appears that Obama is using a bit of budgetary sleight-of-hand to help contribute to the record deficit found in his 2011 budget proposal by taking some of the “temporary” measures of the Porkulus bill and making them part of the budget baseline (as predicted here).  Seems that Ronald Reagan was right when he said [...]

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Is There a VAT in our Future?

February 8, 2010

Shawn Tully of Fortune Magazine seems to think so.  In fact, he predicts that a value added tax (VAT) is the only practical solution to the exploding of deficit spending that is part of Obama’s mammoth $3.9 trillion budget.  Tully argues that there are really three options to get rid of our deficit: Economic Growth [...]

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Balanced Budget Amendment

February 4, 2010

Some members of the GOP in the House are introducing a balanced budget amendment, which would prohibit the federal government from running an annual deficit.  While it doesn’t have a chance in hell, the GOP would be wise to make noise about this, and call Obama and the Democrats to take a stand on it, [...]

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FY-2010 Deficit Skyrockets

December 8, 2009

Fiscal Year 2009 saw unprecedented spending and unprecedented deficits as a result of the Troubled Asset Relief Program (TARP) and Obama’s Stimulus bill.  That, along with a bloated Democrat budget, brought the total deficit for FY-2009 to $1.4 trillion (that’s one trillion, four hundred billion dollars).  Divide that up by twelve months, and the average [...]

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The Dollar is Bleeding

September 8, 2009

News came out today that the US dollar is trading the lowest it has all year and many economies around the world are reiterating their thought that the days of the US dollar being the world’s reserve currency may be at an end.  The initial shock if that were to happen would be catastrophic to [...]

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