Posts tagged as:

National Debt

The Government Reopens, the People Continue to Lose

October 17, 2013

After nearly 17 days, the latest government shutdown has come to an end.  The federal government has enough cash to spend our kid’s and grandkid’s money until January 15, when another apocalyptic, world-ending crisis will inevitably take place to push us to the brink — a brink which will take place on or around February [...]

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Paul Ryan Falls Into Immigration Trap

July 28, 2013

The Senate’s immigration bill is a nightmare, and the House GOP could stop it dead.  But they won’t because the leadership sucks. Case in point:  former Vice Presidential candidate Paul Ryan promised piecemeal action in small steps on immigration by October.  On the surface, that’s already considerably more responsible than the Senate’s “comprehensive” morass.  However, [...]

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Obama: Fueling the Racial Flames

July 21, 2013

Friday, while few were paying attention, President Obama made these remarks regarding the George Zimmerman verdict.  Here’s a short clip: Any observer of this administration can see, clearly by now, that the Justice Department and now Obama himself, are involved in a major media head fake, stoking the flames of discontent regarding this duly adjudicated [...]

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US Debt “Frozen” From May 17 Through Labor Day

July 16, 2013

When I want to look at the national debt, I just go here.  As of this writing, the national debt is about $16.87 trillion and rising. However, if you ask the federal government, the number is $16,699,396,000,000.  What’s weird is that this number hasn’t changed since May 17 (or 56 days ago), even though by [...]

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The Government’s “Paying-For” Problem

February 12, 2013

Does America have a spending problem? Yup.  Here’s about 16,522,000,000,000 or so indications that we do. That won’t stop ideologues like House Democrat Steny Hoyer saying things like this: Seriously, a “paying-for problem?”  They think we’re stupid — with good reason at times. For more silliness, just listen to tonight’s State of the Union Address!

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Listen to Dr. Benjamin Carson

February 9, 2013

This week at the National Prayer Breakfast Dr. Benjamin Carson, standing right next to the President, hit the room with this attack on political correctness. Here’s the full speech, where Carson hits the national debt, taxation, ObamaCare, and more all in the presence of Dear Leader.  It’s about a half-hour, but those of you stuck [...]

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The Obama Nation, Take 2

January 20, 2013

Today around noon President Obama will be sworn in for a second term as our President, while Joe Biden already took his oath this morning.  Tomorrow, the big party takes place — constitutionally, the official swearing in must take place on January 20, but given that today is Sunday the public ceremony has been moved [...]

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Obnoxious New Spending Revealed in DNC Platform

September 6, 2012

Bill Clinton tried to help Obama’s prospects for November last night at the DNC, giving a near 50-minute speech.  Even though I agree with some that Clinton’s voting for Romney, he needs credibility supporting Obama, so he’s not to be blamed for a potential Obama loss.  It’s no coincidence that Hillary’s on the other side [...]

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US Debt Tops $16 Trillion as DNC Gets Under Way

September 4, 2012

On the first full day of the 2012 Democrat National Convention, the Treasury Department says that our national debt will eclipse the $16 trillion mark today. That number looks like this: $16,000,000,000,000.00 That’s fitting since Obama has added roughly $5.4 trillion to that number — more than any President ever.  He inherited TARP, passed the [...]

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Democrats Dodging the Big Question

September 3, 2012

The big question any incumbent President needs to have the people answer if he seeks reelection is:  are you better off than you were four years ago? In 2004 answering that question was complicated.  9/11 changed things, Bush kept us safe at home, and subsequently won that argument. 2012 yields a complicated answer too.  Are [...]

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Obama Debt Trumps Bush in Half the Time

March 21, 2012

The numbers don’t lie — Obama is the debt champion! George W. Bush, with the dot-come bubble, 9/11 and its aftermath, two wars, a new prescription drug entitlement to Medicare, along with everything else which goes with a two-term presidency, amassed a national debt of $4.9 trillion under his two terms. Barack Obama broke that [...]

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Paul Ryan’s Path to Fiscal Sanity

March 21, 2012

During the 1990s, people were concerned with the $4 trillion debt we ran up while winning the Cold War (and after the Democrats reneged on their 1982 promise to reduce spending).  Back then, the debate between the first Republican Congress in forty years and the Clinton Administration was whether our country could balance the budget [...]

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State of the Union — What You Won’t Hear Tonight

January 24, 2012

The President will give his third State of the Union address tonight at 9pm EST.  It will be filled with poll-tested decisive-sounding promises of new entitlements, he may take a shot at his prospective opponents, he’ll definitely hit Congress and remind us of his order to kill Osama Bin Laden, and he’ll lie about his [...]

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$15,000,000,000,000 and Counting

November 16, 2011

Today, the US national debt cracked the $15 trillion mark with no real debt solutions on the table from Congress.  Debt-hawk Paul Ryan had a few things to say about this development in this video. Every time a milestone like this is reached we as a nation have fewer options available to deal with the [...]

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A Line In the Sand

July 18, 2011

The GOP is showing signs of caving into the Obama Administration, or even worse, passing the buck and giving full debt limit authority to the President.  What is at stake here is not the matter of default (which is a myth – we’ve reached the debt ceiling four times before, where it remained for several [...]

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Can You Stabilize the Debt?

May 24, 2010

Via @MediaLizzy I came across this timesuck in which one can try to reduce the federal debt to 60% of GDP by 2018.  It is an interesting exercise, although I do reject some of the premises that the site makes.  First, it takes a static analysis on tax cuts, assuming that extending the Bush tax [...]

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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 [...]

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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 [...]

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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 [...]

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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 [...]

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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 [...]

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The American Financial Collapse

May 13, 2009

Early yesterday I wrote about the current crisis in the U.S. Fiscal system in the areas of unemployment and our national debt, and how they are leading indicators towards a major financial collapse.  Today, there are several pieces of news that add credence to that theory.  First, the April retail sales and foreclosure numbers were [...]

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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, [...]

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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 [...]

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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 [...]

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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 [...]

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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 [...]

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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 [...]

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