Posts tagged as:

National Debt

Credit Default Swaps on Treasuries Becoming Hot Commodity

February 23, 2010

Credit Default Swaps on U.S. Treasuries are rising in price and becoming a hot commodity. Credit default swaps are essentially insurance against default. They are typically purchased against other countries’ debt, not the debt of the United States. Investors are getting nervous about the unsustainable $14 trillion debt and $1.9 trillion annual deficits, and are [...]

Read the full article →

New Debt Limit – $14.3 Trillion

January 28, 2010

The Debt Limit has been raised by Congress to $14.3 trillion dollars. The Senate voted to raise it $1.9 Trillion on a strictly partisan basis, 60-40 (no wonder they delayed the swearing in of Scott Brown). The amount that they are raising it is unprecedented in our nation’s history. Some perspective:

In 2001 when Bush took [...]

Read the full article →

Spendaholic President to Propose “Spending Freeze”

January 26, 2010

President Obama is planning to announce a three year freeze in discretionary spending at the upcoming State of the Union. The President’s supporters and the mainstream media (Department of Redundancy Department I know) will undoubtedly fawn over the proposal as a return to fiscal responsibility. They won’t tell the entire story though. Like so many [...]

Read the full article →

Congress to America: We Need a Babysitter!

January 25, 2010

So the Democrats are worried now that the debt is exploding and that the anger of the American people will oust them from office unless they get spending under control appear as if they are doing something to try to get spending under control. So, because Congress doesn’t like to make hard decisions about what [...]

Read the full article →

Please Not Another Commission

December 30, 2009

Barack Obama is preparing to portray himself as deficit hawk in 2010 despite spending us into the ground in 2009. According to the Wall Street Journal, the Administration has floated the idea of a bipartisan commission to make recommendations concerning deficit reduction. Although such an idea is appealing on the surface, the Journal argues, and [...]

Read the full article →

Ominous Economic Signs

May 8, 2009

Two stories today paint a rather dire picture of the current economic situation. First, jobless numbers were released today, showing the economy losing another 539,000 jobs in April. Since Inauguration Day, the economy has lost 2,585,000 jobs, bringing the unemployment rate up to 8.9%, the highest in over 25 years. The loss of private-sector jobs, [...]

Read the full article →

Republican Resurgence

April 30, 2009

The defection of Arlen Specter has been touted as the death-knell of the Republican party, a sign that the party has become a regional, exclusive party with no room for dissent. While the conventional wisdom looks at the GOP as being down, and polls show the GOP’s continued irrelevance, there are signs of a GOP [...]

Read the full article →

Heading Towards a Bursting of the Government Bubble

April 27, 2009

Yesterday, April 26, was Debt Day, and it was the earliest debt day ever. Debt Day is the symbolic day of the year that Congress runs out of money obtained normally through taxes and revenue, and the day that it has to begin financing its expenditures through debt. This year, it is far earlier than [...]

Read the full article →

Cutting Spare Change from the Federal Budget

April 20, 2009

In what is nothing more than a PR stunt, Obama is meeting with his cabinet for the first time today to ask them to cut, collectively, $100 million from the Federal Budget. That’s right, $100 million. Not $1 billion, not $10 billion, not $100 billion, not $1 trillion. With the spending that has gone on [...]

Read the full article →

Obama Moving America To Economic Ruin

April 3, 2009

Anyone with even a basic understanding of idea of Economics will understand that when there is no balance between expenditures and receipts, disaster will usually become inevitable. Sure, the average person or business that is deep in debt can refinance, perform balance transfers to new lines of credit, and move money around, but in the [...]

Read the full article →

American Bankruptcy

February 27, 2009

Sen. Judd Gregg, interviewed on Hannity last night, stated that the United States was headed for bankruptcy:

While it may seem alarmist, the deficit has reached record levels this year in dramatic fashion. There may come a point where other nations of the world do not want to borrow any more U.S. money, and with Social [...]

Read the full article →