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Keyword: debt

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  • Obama's Plan: Taxes, Spending And Debt

    04/18/2014 6:17:27 AM PDT · by SeekAndFind · 3 replies
    IBD ^ | 04/18/2014
    Remember President Obama's vow that, if re-elected, he'd pursue "balanced" deficit reduction? Either he forgot, or he hopes voters have, because a new report shows his latest budget is entirely unbalanced. When Obama released his budget this March, he said it included "smart spending cuts" and closed "tax loopholes" that benefit only "the wealthiest Americans." Obama added that his budget would put "our debt on a downward path as a share of our total economy, which independent experts have set as a critical target for fiscal responsibility." As with just about everything Obama says, none of these claims turns out...
  • CBO ON OBAMA BUDGET: HIGHER DEFICITS THAN CLAIMED

    04/17/2014 2:11:18 PM PDT · by Jim Robinson · 13 replies
    Breitbart ^ | April 17, 2014 | AP
    WASHINGTON (AP) — A report released Thursday by the nonpartisan Congressional Budget Office says President Barack Obama's budget request would mean significantly larger budget deficits than the White House claims. CBO says the budget plan proposed last month by Obama would produce deficits of $6.6 trillion over the next 10 years — $1.6 trillion more than the White House estimates. The main reason is that the White House has a rosier estimate of the economy's performance over the decade than CBO. That means the administration predicts higher tax revenues. The president's budget is just a proposal; it has gained little...
  • "Ownership Increasingly More Important Than The Job", says Reagan's economist

    04/17/2014 9:18:21 AM PDT · by se99tp · 7 replies
    ChristianConceptsDaily ^ | April 17th, 2014 | Dr. Norman Kurland
    The rich are not the problem, the greedy are not the problem, the crooked are not the problem - the problem is the system that brings them about. If the system is ours, the system means by the people, of the people, for the people, then now it is time to take it back. Now it is time to demand that it would be changed.
  • Obama, Biden to announce millions for job training

    04/16/2014 1:21:18 PM PDT · by Jim Robinson · 44 replies
    CNN ^ | April 16, 2014 | CNN White House Producer Kevin Liptak
    (CNN) – Hoping to help close the gap between workers' skills and the needs of businesses, President Barack Obama on Wednesday will announce he's putting hundreds of millions toward job training programs that produce highly skilled workers. Obama and Vice President Joe Biden will head to a community college in Allegheny County, Pennsylvania to make the announcement. The funding will come in two parts: $500 million toward a new job training competition that pairs community colleges with businesses, and $100 million for new apprenticeship programs to train workers. The White House says the new initiatives are meant to combat a...
  • Ambulance rides a costly chunk of Minnesota's Medicare payments

    04/15/2014 3:59:20 PM PDT · by TurboZamboni · 8 replies
    Pioneer Press ^ | 4-15-14 | Chrissy Snowbeck
    The federal Medicare health insurance program winds up paying the fare for many of the ambulance rides provided by the city of St. Paul. That's why the city in 2012 was one of the largest single recipients of Medicare payments among non-hospital health care providers in the state, according to data released this month by the federal government. Out of more than 19,000 health care providers during 2012 who cared for Medicare patients in Minnesota, the city's take of more than $2 million was the ninth largest individual sum. Whether they were providing ambulance rides or treating illnesses, the state's...
  • Government suspends controversial program to recover money from adult children of dead taxpayers

    04/15/2014 7:44:17 AM PDT · by Dallas59 · 29 replies
    Fox News ^ | 4/15/2014 | Fox Mews
    The Social Security Administration announced Monday it is suspending a controversial program that goes after adult children of deceased taxpayers who the government claims were recipients of overpayments more than a decade ago. Acting Social Security Commissioner Carolyn W. Colvin said she has directed an immediate halt to the three-year-old program while the agency does a review. The controversial program seized tax refunds in an effort to recoup the funds. The move to stop the program came after many of the recipients and members of Congress complained to the federal agency.
  • This Chart Shows Us How Bad The Economy Really Is: “Flashing Red Warning”

    04/14/2014 8:08:29 PM PDT · by Tolerance Sucks Rocks · 19 replies
    Freedom Outpost ^ | April 14, 2014 | Mac Slavo
    Recent weeks have led to a fairly significant drop in stock valuations, with many expert analysts struggling to figure out exactly why it’s happening. You’ll hear them cite the weather, or market overreaction, or any number of reasons for why stocks have seen their share prices reduced and why they’ll be rebounding in the near-term. What they won’t show you on mainstream financial channels is what’s really happening behind the scenes. Forget about all the minute-by-minute noise for a moment and take a look at the following chart. It gives a very simple overview of earnings growth trends for stocks...
  • CBO ISSUES DIRE DEBT WARNING OF 'FISCAL CRISIS'

    04/14/2014 12:56:30 PM PDT · by Jim Robinson · 70 replies
    Breitbart ^ | April 14, 2014 | By Wynton Hall
    New figures by the Congressional Budget Office released on Monday reveal that over the next 10 years the U.S. debt-to-GDP ratio will double to 78%. Over the last four decades America's average debt-to-GDP ratio was 39%. At the end of 2007, federal debt was just 35% of GDP. The CBO report says gross federal debt will soar from $17.7 trillion to $27 trillion over the next ten years. CBO warned of the dire consequences the nation's debt will have if gone unchecked. "Such high and rising debt would have serious negative consequences," says the report. "Federal spending on interest payments...
  • Food Stamp Recipients Outnumber Women Who Work Full-Time

    04/14/2014 10:19:37 AM PDT · by SkyPilot · 49 replies
    CNS News ^ | 14 April 14 | Terence P. Jeffrey
    People participating in the food stamp program outnumbered the women who worked full-time, year-round in the United States in 2012, according to data from the Department of Agriculture and the Census Bureau. In the average month of 2012, according to the Department of Agriculture, there were 46,609,000 people participating in the food stamp program (formally known as the Supplemental Nutrition Assistance Program). That contrasts with the 44,059,000 women who worked full-time, year-round in 2012, according to the Census Bureau’s report on Income, Poverty and Health Insurance Coverage in the United States. For each woman who worked full-time, year-round in 2012,...
  • Reid smelling anything but rosy in ranch fight

    04/13/2014 7:25:31 PM PDT · by DannyTN · 30 replies
    WND.com ^ | 4/12/14 | JEROME R. CORSI
    Desert showdown blows lid off long-standing plans with Chinese ... On Jan. 20, 2013, WND warned Chinese government-backed economists were proposing a plan to allow Chinese corporations to set up “development zones” in the United States as part of a plan proposed by the Chinese government to convert into equity the more than $1 trillion in U.S. Treasury debt owned by the Chinese government. ... By allowing China to have equity interests in U.S. oil and natural gas production, the Obama administration reversed a policy of the Bush administration that in 2005 blocked China on grounds of national security concerns...
  • There is No Renaissance in Public Transit Use

    04/09/2014 6:39:06 PM PDT · by TurboZamboni · 21 replies
    MinnPost ^ | 4-9-14 | Katherine Kersten
    Are we seeing a renaissance in public transit use by Americans? The answer is yes, if you believe a new report from the American Public Transportation Association (APTA), the transit industry's lobby group. In fact, APTA's report is a textbook example of how deceiving statistics can be. The report states that in 2013, the number of transit trips was nearly 10.7 billion nationally--the highest since 1956, according to APTA. Michael Melaniphy, APTA's CEO, hailed what he called "a fundamental shift" in how Americans choose to get around. But even strong supporters of public transit like Michael Manville, David King and...
  • Obama administration spending $400,000 on camel sculpture in Pakistan

    04/04/2014 11:57:32 AM PDT · by Impala64ssa · 16 replies
    Daily Caller ^ | 11:43 AM 03/31/2014 | Alex Pappas
    The Obama administration wants to spend $400,000 on a camel sculpture for a new embassy building in Pakistan, according to a report Monday. BuzzFeed broke the news that the State Department has plans to commission the camel sculpture from John Baldessari, an American artist. The art is called, “Camel Contemplating Needle.” According to a government document posted by BuzzFeed, the sculpture is a “large 500lb fiberglass aluminum, stainless steel, acrylic and painted contemporary art piece.” “Public art which will be presented in the new embassy should reflect the values of a predominately Islamist country,” the document states. While the United...
  • Hillary Clinton 'would have loved' to spend 25% of federal budget on foreign aid

    04/03/2014 6:56:59 PM PDT · by 2ndDivisionVet · 21 replies
    The Washington Examiner ^ | April 3, 2014 | Paul Bedard
    Hillary Clinton, the former secretary of State and leading Democratic presidential candidate, said Thursday that she “would have loved” to spend 25 percent of the federal budget on foreign aid to overseas countries while the nation's top diplomat. At a USAID event in New York to push for global spending to reduce poverty, she addressed the country’s limited foreign aid budget compared to the huge amount the public believes State spends. “You all know that the polls continuously show that most people in our country think we spend 20-25 percent on foreign aid, and I would have loved that to...
  • Moscow Calls on Ukraine to Pay Down Its Gas Debt

    04/03/2014 11:43:05 AM PDT · by Jim Robinson · 2 replies
    ABC News/AP ^ | April 3, 2014 | By NATALIYA VASILYEVA Associated Press
    Russia is tightening its economic screws on Ukraine, ordering Thursday a further increase in the price of gas it sells to the country and asking that past bills — which are growing by the day — be paid. Ukraine, whose economy is on the brink of collapse as it awaits international aid, relies on Russia for almost all its energy. Russia had been giving it discounts on gas as long as the government was willing to have close ties with Moscow. Now that the new government has signed a partnership with the European Union instead, those favors are being pulled...
  • Congress is deceiving the American people about the federal budget: Bill White

    04/02/2014 7:15:10 AM PDT · by Red in Blue PA · 6 replies
    Bill White, former mayor of Houston, believes that our country has veered way off course with our federal debt. “For 90% of our country’s history, we only borrowed for extraordinary purposes…to wage war, plug holes during severe downturns or to acquire territory,” says White in the video above. He argues that borrowing money to keep the government functioning normally is deceitful and goes against the “fiscal constitution” that our forefathers created.
  • The Obama Debt Tracker - Obama doubles America's publicly held debt in just 5.2 years

    04/01/2014 3:22:05 PM PDT · by jpl · 20 replies
    The United States Department of the Treasury ^ | Monday, April 1, 2014 | The United States Department of the Treasury
    I wish that this were just another bad April Fools' Day joke, but sadly, this story is all too real. Since President Barack Hussein Obama was inaugurated into office a little over five years ago, Obama, Pelosi, and Reid have doubled America's publicly held debt, an increase of more than 6.3 trillion dollars: Date                   Debt Held by the Public         Intragovernmental Holdings   Total Public Debt Outstanding 03/31/2014        6,307,310,739,681.66          4,319,566,309,231.42          10,626,877,048,913.08 8/19/2011          12,619,319,113,193.99 ...
  • Is College A Waste Of Time And Money?

    03/30/2014 6:42:52 PM PDT · by SeekAndFind · 45 replies
    TEC ^ | 03/29/2014 | Michael Snyder
    Are you thinking of going to college? If so, please consider that decision very carefully. You probably have lots of people telling you that an "education" is the key to your future and that you will never be able to get a "good job" unless you go to college. And it is true that those that go to college do earn more on average than those that do not. However, there is also a downside. At most U.S. colleges, the quality of the education that you will receive is a joke, the goal of most colleges is to extract as...
  • (RAT) Leland Yee’s campaign debt at root of criminal behavior, authorities allege

    03/30/2014 2:26:04 PM PDT · by Libloather · 35 replies
    Modesto Bee ^ | 3/30/14 | Jim Miller
    In more than a decade of campaigns for the California Legislature, San Francisco mayor and secretary of state, state Sen. Leland Yee raised in excess of $5 million. Yet it was a campaign debt only a fraction of that amount that federal officials allege pulled the veteran politician into a sprawling sting operation. The 137-page FBI affidavit against Yee and more than 20 other defendants says the San Francisco Democrat’s focus on retiring a $70,000 campaign debt from his unsuccessful 2011 mayor’s race and raising money for his 2014 candidacy for secretary of state led him to accept bribes in...
  • Their Solution, Our Problem

    03/30/2014 8:22:57 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | March 30, 2014 | Paul Jacob
    Increasing public debt is bad for a number of reasons. Journalist Matthew Yglesias, speaking on vox.com, gives voice to a very different, more Pollyannish perspective: “Debt is just not a problem right now,” he says. Why? “The U.S. can never run out of dollars.” After all, the Fed can just print more. That’s not an uncommon view where I live, near the center of privilege, Washington, D.C. Indeed, it’s what liberals and progressives say every time a Tea Partier protests federal overspending and multi-billion-buck budget deficits. In other words, the idea is as common as dirt. So why General Electric...
  • Obamacare: Taxpayers in the Hole for $1.5 Trillion

    03/27/2014 10:18:04 AM PDT · by Star Traveler · 18 replies
    The Fiscal Times ^ | Thursday, March 27, 2014 | Edward Morrissey
    “What the hell is this, a joke?” Speaker of the House John Boehner said in reaction to news this week that yet another “deadline” in the Affordable Care Act had been unilaterally delayed by the Obama administration. Unfortunately, the answer to that question is yes, and it’s becoming increasingly clear that the joke is on the American taxpayer. Late Tuesday, the Department of Health and Human Services – which has taken to bragging about “enrollment” numbers that fall millions short of their original goals – announced that the March 31st deadline for open enrollment had become more of a guideline....
  • A new way to gauge the worth of college debt, starting salary

    03/23/2014 4:35:07 PM PDT · by SeekAndFind · 43 replies
    Chicago Tribune ^ | 03/17/2014 | By Steve Rosen
    Here's a typical college scenario: Your daughter's dream job is to be an elementary school teacher and reading specialist. Yet she'll need to dive deep into debt to pursue her undergraduate degree, and borrow more if continuing to grad school. She's worried -- rightfully -- about her financial future, and she's looking for answers. How much debt might she be saddled with? How much will her college degree translate into salary once she lands a job? And what budget-squeezing sacrifices might be necessary to repay the swath of loans? Those types of questions are on the minds of countless college...
  • The Hidden College Problem: When Universities, Not Just Students, Take On Debt

    03/23/2014 4:31:41 PM PDT · by SeekAndFind · 4 replies
    Forbes ^ | 03/23/2014 | Josh Freedman
    Last week, the University of California got downgraded. Not in the U.S. News or other college rankings, where six of its campuses rank in the top 15 public colleges in the United States; nor in College Prowler’s list of schools with the most attractive men on campus (where flagship UC-Berkeley clocks in at a measly number 1185). Rather, the UC system has been downgraded in the credit markets: ratings agency Moody’s lowered the UC system’s general revenue bonds from Aa1 to Aa2.People like to talk about student debt – read, for example, my five part series on the topic. (Ok,...
  • Debt Ceiling

    03/22/2014 2:43:43 PM PDT · by MosesKnows · 4 replies
    3/22/2014 | MosesKnows
    Debt Ceiling I hear reference to the number of debt ceiling increases as the main factor when comparing presidents. I usually hear that Reagan raised the debt 18 timed. A little research at the Office of Management and Budget web site reveals this is true. The debt ceiling spreadsheet data is from 1940 to the present. I did infer the following from Table 7.3, Statutory Limits on Federal Debt 1940-Current. President Reaganapproved of increasing the debt ceiling 18 times for a total increase of $684.4 Billion, $684,400,000, $684.4 thousand million. President George H.W. Bush approved of increasing the debt ceiling...
  • Claire McCaskill: '$17 Trillion Debt Is Irresponsible'

    03/20/2014 1:46:42 PM PDT · by Da Bilge Troll · 30 replies
    Breitbart.com ^ | 19 Mar 2014 | WYNTON HALL
    Missouri Democrat Sen. Claire McCaskill said on Wednesday that America's $17 trillion debt threatens to put the nation "in a position where we're not a first-tier nation anymore." McCaskill added, "I do believe a $17 trillion debt is irresponsible. I do believe that." McCaskill's Kansas City comments were part of her "McCaskill on Main Street" tour. The Missouri Democrat explained that the federal government is now doing things it should not be doing because lawmakers "want to be loved." "We have ourselves doing things the federal government was never intended to do. I mean, we weren't supposed to be buying...
  • Place You bets: How do you think Obama and his comrades will want to use the next ‘serious crisis’?

    03/20/2014 1:17:49 PM PDT · by Voice of Reason88 · 29 replies
    March 17, 2014 | Anonymous
    Make a guess and place you bets – we all know it’s on it way, the next crash is going to happen sooner or later, it's just a question of what the left will try to do to not waste another “serious crisis” Think about it – the Fed is Printing money.. .excuse me “Digitizing” – they can’t even go through the motion of spitting out worthless paper that diminishes our savings, they have to add insult to injury with that sort o chicanery Let’s face it, somewhere in the deep dark crevices of the leftist mind, they have their...
  • Veterans Affairs wind turbine, built for $2.3 million, stands dormant

    03/20/2014 6:40:02 AM PDT · by woodbutcher1963 · 22 replies
    Fox News ^ | March 20, 2014 | Tom Steward
    <p>ST. CLOUD, Minn. – A $2.3 million federal stimulus project at the Veterans Affairs Medical Center in St. Cloud is giving green energy initiatives a bad name. A 600-kilowatt wind turbine -- some 245 foot tall -- stands on the wintry VA grounds, frozen in time and temperature, essentially inoperable for the past 1 1/2 years.</p>
  • Judging Obama's Economy By His Own Promises

    03/20/2014 6:36:18 AM PDT · by IBD editorial writer · 2 replies
    Investor's Business Daily ^ | 04/19/2014 | John Merline
    President Obama gave a speech recently in which he, as he almost always does, patted himself on the back for what he described as a solid record on the economy. "We've now seen over four years of economic growth," he said. "We've seen 8.5 million new jobs created. We've seen the housing market bounce back. We've seen an auto industry that has come roaring back. We've seen manufacturing return for the first time since the 1990s." Obamaphiles in the press typically repeat these claims, arguing that, given the mess he inherited, no one could have done any better. But is...
  • HHS set to blow $1 TRILLION in 2015 as health-care costs grow by leaps and bounds

    03/19/2014 2:47:55 PM PDT · by PapaNew · 17 replies
    The Daily Caller ^ | 3/12/2014 | Katie McHugh
    The Department of Health and Human Services is expected to spend over one trillion dollars in 2015 — but HHS Secretary Kathleen Sebelius has never once testified before the Senate’s Budget Committee on either Obamacare’s costs or the president’s budget at large. “The Department of Health and Human Services is projected to spend over $1 trillion in FY2015 under the president’s budget, and health care costs — which today comprise nearly 30 percent of all federal spending — are growing more rapidly than other areas of the budget, especially over the long-term. It would be good for members of the...
  • Ukraine to Lay Claim for Soviet Heritage

    03/17/2014 4:45:01 PM PDT · by Navy Patriot · 20 replies
    Ria Novosti ^ | March 18, 2014 | Staff
    KIEV, March 17, Ukraine is set to lay a claim to property of the Soviet Union, including about $80 billion deposited on the accounts of the USSR State Bank, Justice Minister Pavlo Petrenko said on Thursday. Petrenko said that Ukraine did not sign the December 9, 1994 agreement which recognized Russia as the successor state of the Soviet Union and its government has legal grounds to claim ownership of certain Soviet property located in third states. Kiev also plans to lay claim to about $80 billion deposited on accounts of the USSR State Bank, the only bank in the Soviet...
  • Governments Binge on Debt with Easy-Money Policies and Low Interest Rates

    03/17/2014 9:32:33 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | March 17, 2014 | Paul Dykewicz
    Confirmation that governments are squandering money on ill-advised programs fueled by the easy-money policies of central banks worldwide became all-too-evident earlier this week when a European business leader responded to a question I posed at a press briefing here in Washington, D.C.
  • Obama gave Oregon $304 million to build its defective Obamacare website that enrolled zero people

    03/17/2014 5:14:10 AM PDT · by grundle · 21 replies
    wordpress ^ | March 16, 2014 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog Obama gave Oregon $304 million to build its defective Obamacare website that enrolled zero people Obama gave Oregon $304 million to build its defective Obamacare website. As of February 28, 2014, exactly zero people had signed up at Oregon’s Obamacare website.I am not at all, in any way, surprised by this.Given all of the many, many, many other things that Obama has done, I actually expect things like this to happen.What I don’t expect is for Obama to do anything about it. Sure, he may pay lip service, and pretend to get all angry and upset....
  • 19 Signs That The U.S. Consumer Is Tapped Out: Years of declining incomes and rising debts

    03/15/2014 11:53:43 AM PDT · by SeekAndFind · 33 replies
    TEC ^ | 03/15/2014 | Michael Snyder
    You can't get blood out of a rock. Traditionally the United States has had a consumer-driven economy, but now years of declining incomes and rising debts are really starting to catch up with us. In order to have an economy that is dependent on consumer spending, you need to have a large middle class. Unfortunately, the U.S. middle class is steadily shrinking, and unless that trend is reversed we are going to see massive economic changes in this country. For example, in poor neighborhoods all over America we are seeing bank branches, car dealerships and retail stores close down at...
  • The government doesn’t know how many empty buildings it owns — just that they’re costing us billions

    03/14/2014 6:48:43 AM PDT · by SeekAndFind · 13 replies
    Hotair ^ | 03/14/2014 | Erika Johnsen
    Ugghhh. Via The Hill: President Obama on Thursday urged Congress to “do even more” on conservation projects after signing legislation protecting a 35-mile stretch of Lake Michigan’s coastline.“There are currently dozens of conservation proposals before Congress — many supported by Democrats and Republicans — that would protect important lands across the country and help grow our economy,” Obama said in a statement.The Sleeping Bear Dunes conservation law was the first public lands designation by Congress in more than five years — the longest lawmakers had gone without making a wilderness designation in nearly 50 years.While urging lawmakers to take up...
  • The National Debt Now: Arguing that it will menace “the children” down the road masks its urgency.

    03/14/2014 6:31:51 AM PDT · by SeekAndFind · 3 replies
    National Review ^ | 03/14/2014 | Deroy Murdock
    Budget hawks and free-marketeers very badly need to retool their rhetoric on the dangers of government borrowing and America’s ever-deepening national debt — last clocked at $17.4 trillion. “How dare we pass along our bills to our children and grandchildren . . . yadda, yadda, yadda . . . ZZZZZZZZZZZZZZZZzzzzzzzzzzzzzzzzzz . . . ” Such ubiquitous references to indebted youngsters have grown hackneyed. These proverbial little boys and girls have zero practical impact on and limited emotional appeal to Americans who do not have and perhaps do not want offspring. Despite the widespread assumption that “everyone has kids,” tens...
  • Senate Dems offer $9 billion borrowing plan for pensions relief(Pennsylvania)

    03/12/2014 2:12:21 PM PDT · by mdittmar · 10 replies
    witf ^ | Mar 12, 2014 | Mary Wilson, Capitol Bureau Chief
    State Senate Democrats say borrowing nine billion dollars is the best way to address the state's rising public pension debt. It's a shift from a caucus that has previously supported a wait-and-see approach with the 2010 law that reset scheduled payments into the pension systems. Those payments are set to increase by hundreds of millions of dollars over the next several years, eating up precious funding for other government programs, only to decrease again in 20 to 30 years. Now they Senate Democrats say a $9 billion bond could refinance some of the pension debt. Sen. John Blake (D-Lackawanna) said...
  • The Profligate Path to Servitude

    03/12/2014 4:52:26 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | March 12, 2014 | Dr Ben Carson
    As a teenager, I began a new lifelong routine of starting and ending each day reading from the book of Proverbs, which, of course, was written by Solomon, a very wise man. Interestingly, my parents gave me the middle name of Solomon -- not that I claim even a modicum of his wisdom. After Solomon became the king of Israel, he gained great renown when two women came before him claiming to be the mother of the same infant. Solomon decreed that the baby should be divided and half given to each woman, at which time the real mother immediately...
  • As Global Debt Soars, Where's The Big Recovery?

    03/11/2014 7:25:40 AM PDT · by SeekAndFind · 3 replies
    IBD ^ | 03/11/2014
    A new study says governments around the world boosted their debts by more than 40% to over $100 trillion in response to the global financial crisis. Where's the promised recovery from all that spending? From mid-2007 to last summer, the world added $30 trillion in government debt to its balance sheets, the Bank for International Settlements says. By comparison, that's twice the size of the $15 trillion U.S. economy. After the financial crisis, governments around the world, but especially in Europe, the U.S. and Japan, went deeper into debt so that they could spend more. They were following the old...
  • World debt reaches $100 trillion, U.S. share 58 percent

    03/11/2014 6:50:54 AM PDT · by Sopater · 16 replies
    NetRight Daily ^ | Robert Romano
    Global debt outstanding, that is, all debts public and private, reached $100 trillion in mid-2013, the Bank for International Settlements (BIS) quarterly review revealed. Credit outstanding has grown by more than $30 trillion since the financial crisis began in 2007. When compared to data compiled by the Federal Reserve, the U.S. share of the $100 trillion is almost three-fifths — with about $58 trillion credit outstanding nationwide at the end of the second quarter in 2013. In contrast, the $17 trillion U.S. gross domestic product only makes up a little less than one quarter the world’s total economic capacity, currently...
  • Visits to national parks tumble on bad weather, federal shutdown

    03/10/2014 8:08:06 PM PDT · by Oldeconomybuyer · 10 replies
    Los Angeles Times ^ | March 10, 2014 | by Hugo Martin
    The partial government shutdown in October was largely to blame for a 3% drop in visitors to America's national parks in 2013, according to a report released Monday by the National Park Service. The country's 401 parks, historic sites and recreation areas drew 273.6 million visitors in 2013, about 9 million fewer than the previous year, according to the report. The 16-day government shutdown, sparked by a budget dispute in Washington, was responsible for reducing the visitation numbers by about 7.9 million, the report said. The communities near the parks lost about $414 million in spending by visitors because of...
  • Obama & Putin - Trapped In Macho Game Of “Chicken” Over Ukraine - Whole World Could Pay The Price

    03/08/2014 12:25:04 PM PST · by Tolerance Sucks Rocks · 35 replies
    Freedom Outpost ^ | March 6, 2014 | Michael Snyder
    The U.S. government and the Russian government have both been forced into positions where neither one of them can afford to back down. If Barack Obama backs down, he will be greatly criticized for being "weak" and for having been beaten by Vladimir Putin once again. If Putin backs down, he will be greatly criticized for being "weak" and for abandoning the Russians that live in Crimea. In essence, Obama and Putin find themselves trapped in a macho game of "chicken" and critics on both sides stand ready to pounce on the one who backs down. But this is not...
  • Cruz to Hagel: Why is Pentagon Funding Algae Fuel, Wind Turbines, But Not More Combat Troops?

    03/06/2014 6:02:07 AM PST · by cotton1706 · 27 replies
    Texas Republican Senator Ted Cruz grilled Defense Secretary Chuck Hagel on his department's budget during a Senate Armed Services Committee hearing: "The Department of Defense continues to spend billions of dollars unnecessarily on alternative energy research programs at DoD. The Navy recently spent $170 Million on algae fuel, that costs four times as much as regular fuel," Cruz said. He continued by describing other similar projects in contrast to cuts in the funding for additional combat troops in the United States' armed services.
  • Budget proposal won’t tame debt, interest would soon exceed military spending

    03/04/2014 7:12:08 PM PST · by Kaslin · 8 replies
    Fox News.com ^ | March 4, 2014
    President Obama's latest budget proposal paints a troubling picture of America's fiscal future. Here's a startling snapshot: -- By 2024, the total national debt would rise from $17.4 trillion to nearly $25 trillion. -- By 2020, U.S. taxpayers would be paying more in interest on the debt than they would on the entire Defense budget. -- By 2017, those interest payments would be bigger than the budget for Medicaid. Despite Democratic claims that President Obama has tackled the deficit, the numbers give a sense of what fiscal hawks -- who have not given up their fight despite an election-year aversion...
  • Shocker: Federal government’s fiscal deterioration almost 5 times official deficit

    03/06/2014 7:29:14 AM PST · by SeekAndFind · 11 replies
    Hotair ^ | 03/06/2014 | Dustin Siggins
    In Fiscal Year 2013, the official federal deficit was $680 billion. Liberals have cheered this drop while subsequently ignoring how this deficit is both larger than all of Bush’s pre-recession deficits and is expected to grow dramatically over the next several decades.However, the Treasury Department’s annual report on the finances of the U.S. federal government shows that not only is $680 billion an incomplete measure of the federal government’s finances, it’s off by nearly a factor of five.From Just Facts Daily: The U.S. Treasury has just released its annual “Financial Report of the United States Government,” which provides an account...
  • It’s the President, Stupid

    03/06/2014 4:48:54 AM PST · by Kaslin · 7 replies
    Townhall.com ^ | March 6, 2014 | John Ransom
    Our Demander-in-Chief has once again put together a budget so mind boggling stupid, so bereft of credibility that it will spontaneously abort somewhere between the White House and the desk of Senator Harry Reid (D-Who Me?). You can think of Obama’s newest budget as the “legitimate rape” of America. All you really need to know about the budget is this headline from the Washington Post’s Wonk Blog: “Obama budget seeks new spending, new taxes to boost economy, tame debt”. Ha, ha, ha. Stop me if you heard that one before. If we gave the government a buck for every time...
  • Thanks taxpayers! Globetrotting Michelle Obama announces luxurious vacation to China

    03/04/2014 9:37:40 AM PST · by mandaladon · 32 replies
    The Daily Caller ^ | 4 Mar 2014 | Eric Owens
    Fresh off the first family’s sixth annual winter vacation to the Hawaiian island of Oahu – billed to American taxpayers at a cost of $4 million – Michelle Obama and the first daughters Malia and Sasha will now jet off to China for over a week of much-needed sightseeing. President Barack Obama won’t be making the trip. But don’t worry, America: The first lady’s mother, Marian Robinson, will be tagging along on the federal dime. The theme of the March 19-26 trip will be education, reports the Chicago Tribune. The first lady and her entourage will spend several days in...
  • Boxer: ‘Absolutely No Way We’re Going to Cut Spending’

    03/03/2014 10:16:30 AM PST · by Olog-hai · 28 replies
    Cybercast News Service ^ | March 3, 2014 - 11:23 AM | Eric Scheiner
    While discussing federal spending and transportation funding, Sen. Barbara Boxer (D-Calif.) said “there is absolutely no way we’re going to cut spending.” Boxer was discussing the Highway Trust Fund with members of the American Association of State Highway and Transportation Officials (AASHTO) in Washington on Feb. 26th, when she addressed various tax increases that may be used to raise money for the program. “I don’t see support for raising the gas tax and there is absolutely no way we’re going to cut spending, so it’s going to have to be a creative way to fund this in reality,” Boxer said....
  • Student Loans Entice Borrowers More for Cash Than a Degree

    03/03/2014 10:14:42 AM PST · by reaganaut1 · 33 replies
    Wall Street Journal ^ | March 2, 2014 | JOSH MITCHELL
    Some Americans caught in the weak job market are lining up for federal student aid, not for education that boosts their employment prospects but for the chance to take out low-cost loans, sometimes with little intention of getting a degree. ... A number of factors are behind the growth in student debt. The soft jobs recovery and the emphasis on education have driven people to attain more schooling. But borrowing thousands in low-rate student loans—which cover tuition, textbooks and a vague category known as living expenses, a figure determined by each individual school—also can be easier than getting a bank...
  • Greenfield:

    03/03/2014 5:05:33 AM PST · by Louis Foxwell · 24 replies
    Sultan Knish blog ^ | Sunday, March 02, 2014 | Daniel Greenfield
    Sunday, March 02, 2014 The Coming Collapse of the Welfare State Posted by Daniel Greenfield @ the Sultan Knish blog In 1935, the year that FDR signed the Social Security Act into law, the birth rate was 18.7 per 1,000. In 1940, when the first monthly check was issued, it had gone up to 19.4. By 1954, when Disability had been added, the birth rate at the heart of the Baby Boom stood at 25.3. In a nation of 163 million people, 4 million babies were being born each year. By 1965, when Medicare was plugged in, the birth rate...
  • Let's not get carried away with Minnesota budget surplus

    03/02/2014 5:49:13 PM PST · by TurboZamboni · 10 replies
    Pioneer Press ^ | 3-2-14 | Ed Lotterman
    Along with several other states, Minnesota has returned to a budget surplus after some sharp deficit years. Whether that is because of luck or good policy is a matter of divided opinion. But there reportedly is about $1 billion on the table. Already there are many suggestions on how to "use it" -- ranging from tax cuts to new spending. This is premature, fiscally irresponsible and dangerous to the state economy. This surplus is not a long-lasting "structural" one, and that should be taken into account. We should first build up a reserve fund for the day we go back...
  • For Ships of State, a Looming Iceberg

    03/02/2014 2:01:17 PM PST · by Kaslin · 11 replies
    Townhall.com ^ | March 2, 2014 | Steve Chapman
    If you're in the hospital with multiple fractures, a staph infection and a collapsed lung, you may not take great comfort when your doctor informs you that his last patient has it worse, being dead. Sometimes encouraging comparisons are not that encouraging. So Chicagoans didn't break out confetti upon hearing that Standard & Poor's Ratings Services regard the city's fiscal condition as less dire than Detroit's. In other news, most residents of Baghdad were not killed by suicide bombers yesterday. The S&P report is not exactly a burst of sunshine. It judges "both Detroit's and Chicago's budgetary performance to be...