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Keyword: deficit

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  • 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...
  • Fun Number; Apple Has Twice As Much Cash As The US Government

    04/13/2014 8:19:56 AM PDT · by RightGeek · 18 replies
    Forbes ^ | 4/13/2014 | Tim Worstall
    And, for good measure, Microsoft has more cash at hand that Uncle Sam does. [snip] It’s a very fun number, to be sure, but it’s not quite right for a number of economic reasons. It’s true that when you look at the balance sheets then Apple, say, has $160 billion in cash available, that Microsoft MSFT has a little under $85 billion and the Treasury only has $49 billion to hand to keep the government working. But it’s not really true for a couple of reasons that we’ll get to. [snip] The first and most obvious being that the government...
  • A Powerful Video Being Shared On Facebook

    03/20/2014 10:26:45 PM PDT · by shibumi · 23 replies
    Facebook ^ | 3/20/2014 | Senior Airman Brian Kolfage
    This video is a must see and share with everyone you know. It is powerful and extremely well done.
  • Good News! ...Sort Of: Has the Tea Party gotten its wish on government spending?

    03/17/2014 8:13:12 AM PDT · by SeekAndFind · 11 replies
    American Thinker ^ | 03/17/2014 | Randall Hoven
    When it comes to federal government spending, we are almost back to normal.  According to the Office of Management and Budget, the federal government spent 20.8% of GDP in fiscal 2013.  That is not a rosy-scenario, computer-generated prediction, but an actual count of dollars already spent.That is the lowest level since President Obama was inaugurated, and down from the peak of 24.4% in 2009 – a drop of over $600 billion in today’s dollars.  It is almost back to the pre-Obama level of 20.2% of GDP in 2008.  And it matches the 24-year average from 1975 through 1998. It is...
  • 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...
  • Journalists hide real numbers when reporting budget spin

    03/07/2014 3:45:30 AM PST · by afraidfortherepublic · 4 replies
    The Washington Examiner ^ | 3-6-14 | Scott Rasmussen
    The standard media coverage of President Obama's new budget claimed the proposals will cut $600 billion in spending over the next decade. It was just about impossible, though, to find any media story mentioning some basic numbers that belong in any story about a new federal budget. How much money is the federal government spending this year? How does that compare to what it spent last year, or expects to spend next year? Perhaps the reason for this failure is because the real numbers don't match up with the storyline. For example, in the current year, the federal government is...
  • 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 ^ | 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 ^ | 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...
  • 2014 Federal Budget in Pictures

    02/13/2014 9:34:00 AM PST · by 1rudeboy · 18 replies
    Federal spending and debt are out of control If America does not change course, the future will be dramatically worse. Now more than ever, it is crucial that Americans understand what our nation's spending, taxes, and debt mean for them and their families. The Heritage Foundation's Federal Budget in Pictures offers a unique tool to learn about the federal budget in a clear and compelling way.
  • Repeal the Debt Ceiling

    02/11/2014 5:22:17 PM PST · by Oldeconomybuyer · 13 replies
    Wall Street Journal ^ | February 11, 2014 | Op Ed
    A mere eight weeks from the December budget deal, House Republicans on Tuesday bowed to the inevitable and allowed a vote on a "clean" debt-ceiling increase that Democrats promptly passed—no reform strings attached. Perhaps as a follow-up the GOP could repeal the debt ceiling altogether and finally end this periodic self-torture. Before it created the debt ceiling in 1917, Congress had to vote to approve each new government bond issue, specifying the amount to be borrowed and the terms. This is in stark contrast to today's practice, when Treasury is generally free to borrow at will until it hits the...
  • A Trust Deficit

    02/11/2014 8:56:34 AM PST · by Kaslin · 6 replies ^ | February 11, 2014 | Cal Thomas
    Most people accept the notion that politicians don't always tell the truth. Some lies are harmless enough; others more consequential. Lyndon Johnson skirted the truth when he promised during the 1964 presidential campaign not to send any more American troops to fight a land war in Southeast Asia. He knew then that American intervention would eventually be necessary, but the lie helped him win the election. After the election, Johnson sent additional troops, more American lives were lost and the war escalated. Richard Nixon claimed he knew nothing about Watergate. "I am not a crook," he said. Lies. In 1976,...
  • The 10 Most Outrageous Government Boondoggles I Ever Saw

    02/09/2014 9:37:31 AM PST · by TurboZamboni · 5 replies
    politico ^ | 2-5-14 | TOM COBURN
    The Pentagon’s “Did Jesus die for Klingons too?” symposium In 2012, we issued a report titled “Department of Everything” that showed how the Department of Defense could make cuts in “non-defense” spending – spending in DOD that has nothing to do with our national defense, which we’ve estimated totals almost $68 billion. In the report, we highlighted surprising spending on beef jerky and a smartphone add to gauge caffeine intake. Our eyebrows were also raised by a strategy planning workshop for which nearly $100,000 was allocated. One of the sessions at the symposium explored the relationship between Jesus and Klingons,...
  • US deficit to drop to $514B, lowest of Obama years

    02/04/2014 9:42:18 AM PST · by ColdOne · 22 replies ^ | 2/4/14 | ANDREW TAYLOR,Ap
    WASHINGTON (AP) — The U.S. budget deficit is set to fall to $514 billion this year, down substantially from last year and the lowest level by far since President Barack Obama took office five years ago, a congressional report said Tuesday. The Congressional Budget Office credits higher tax revenues from the rebounding economy and sharp curbs on agency spending as the chief reason for the deficit's short-term decline. But the budget experts see the long-term deficit picture worsening by about $100 billion a year through the end of the decade because of slower growth in the economy than they had...
  • Obama Adds Over $500 Billion In New Debt in Just Three Months Under McConnell’s Blank Check

    01/22/2014 3:59:41 PM PST · by kristinn · 17 replies
    The Gateway Pundit ^ | Wednesday, Janaury 22, 2014 | Kristinn Taylor
    Obama Adds Over $500 Billion In New Debt in Just Three Months Under McConnell’s Blank Check Debt Ceiling Deal Half a Trillion in Just Three Months President Barack Obama has blown through more than $500 billion in deficit spending in the three months since passage of the deal proposed by Senate Minority Leader Mitch McConnell (R-KY) on easing the debt ceiling battles that gave Obama virtually unlimited borrowing authority from October 17, 2013 through this February 7th. Treasury Secretary Jack Lew sent a letter to Congress today imploring the debt ceiling be raised by February 7th, or the end of...
  • The Hows and Whys of Gold Price Manipulation

    01/18/2014 5:34:02 PM PST · by logi_cal869 · 56 replies
    Institute for Political Economy ^ | 1/17/2014 | Paul Craig Roberts and Dave Kranzler
    The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.” Removed from market discipline, the banks became wards of the government requiring massive creation of new money by the Federal Reserve in order to support through the policy of Quantitative Easing the prices of financial instruments on the banks’ balance sheets and in order to finance at low interest rates trillion dollar federal budget deficits associated with the long recession caused...
  • Chris Christie's New Jersey Is Least Solvent State

    01/16/2014 5:25:28 AM PST · by IBD editorial writer · 16 replies
    Investor's Business Daily ^ | 01/16/2014 | John Merline
    More bad news for Gov. Chris Christie: New Jersey is dead last in the nation in terms of its fiscal solvency, according to a new report. The study, released this week by the free-market Mercatus Center at George Mason University, ranked each state's financial health based on a variety of measures, such as cash on hand to pay its current bills, budget surpluses or deficits, unfunded liabilities and ability to provide adequate public services. The Mercatus study used 2012 data. New Jersey came in last on two of those measures — budget and long-term solvency — and finished in the...
  • Why the Sequester Had to Die : It was Too Successful

    01/15/2014 7:34:49 AM PST · by SeekAndFind · 7 replies
    National Review ^ | 01/15/2014 | Kevin D. Williamson
    Sequester, we hardly knew ye. The omnibus budget deal slithering its way toward President Barack Obama’s desk for signing abandons the automatic spending cuts that resulted from an earlier fiscal compromise. Why was the sequester abandoned? Like the Gramm-Rudman Act a generation earlier, the sequester had to be stopped for one fundamental, undeniable, bipartisan reason. It worked. It did not work perfectly, and it did not balance the budget or put us on course for a balanced budget. But it did play a critical role in nudging the deficit away from “catastrophic existential threat” territory and toward “terrifying money-suck.” It...
  • “Shrugging It Off”– It’s a Game of the Throne

    01/04/2014 8:20:49 AM PST · by NOBO2012 · 2 replies
    Michelle Obama's Mirror ^ | 1-4-2014 | MOTUS
    I thought you’d like to know: with the release of the greatly anticipated White House feature, “2013 – YEAR IN REVIEW”Yes: the White House really did title this image “Hero”the WhiteHouse.Gov site has officially been recognized as the most thorough, reliable and verifiable propaganda machine in the nation! It readily beat out all of its close competitors at ABC, NBC, CBS, CNN, Ms.NBC and the New York Times for the title Propagandist of the Year.You can see why, with “highlights” from each and every month of the year that includes a vast array of fun facts:@ 1:34: “Here’s where it...
  • No Accounting for Government Cost

    01/04/2014 7:30:42 AM PST · by Innovative · 16 replies
    Barron's ^ | Jan 4, 2014 | Joseph H. Marrent
    The financial position of the U.S. is not just troubled; it is artificially created to fool the people. The nation's budget deficit and debt are exponentially higher than what our politicians say they are. None of the headline figures used as the basis of public discourse have any relevance to the true state of U.S. finances. The government's financial reporting is misleading because our political leaders have subverted the democratic process to advance their personal interests. Adding all of the costs associated with the nation's social-insurance programs to the amounts reflected in the Financial Report shows that over the past...
  • Pelosi: Tack cost of more unemployment benefits onto deficit

    12/23/2013 1:31:41 PM PST · by Libloather · 27 replies
    Washington Times ^ | 12/23/13 | Stephen Dinan
    House Minority Leader Nancy Pelosi said Monday she’ll push for a vote for more unemployment benefits and said the additional $25 billion cost should be tacked onto the deficit rather than paid for by cuts elsewhere. On a conference call with fellow House Democratic women, the California lawmaker said Republicans acted “cruelly” when they went home for a three-week vacation earlier this month without approving more weeks of unemployment payments for the long-term jobless. As many as 1.3 million people will lose benefits on Saturday, when enhanced benefits expire. Republicans have said they would consider taking up a bill, but...
  • Steinitz: Lapid is Like Mandela's Sign Language Interpreter

    12/21/2013 10:18:07 PM PST · by Eleutheria5 · 8 replies
    Arutz Sheva ^ | 22/12/13 | Elad Benari
    Strategic Affairs Minister Yuval Steinitz (Likud Beytenu) had harsh words for Finance Minister Yair Lapid (Yesh Atid) on Saturday night. Speaking on Channel 2’s “Meet the Press”, Steinitz, who served as Finance Minister before Lapid, said that his successor misled the public and created unnecessary panic about the state of the Israeli economy. Steinitz claimed that the deficit, which is expected to be released in January, will stand at about 3%, in contrast to Lapid’s earlier predictions. "By doing this, he caused severe damage,” he charged. “No top official in the Treasury or in the Bank of Israel ever told...
  • The Hidden Motives Behind The Federal Reserve Taper

    12/21/2013 10:06:33 AM PST · by Errant · 46 replies
    Zero Hedge ^ | 12/21/2013 | Tyler Durden
    "The powers of financial capitalism had (a) far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland; a private bank owned and controlled by the world's central banks which were...
  • White House: No debt-ceiling negotiations

    12/16/2013 10:54:21 AM PST · by Cincinatus' Wife · 22 replies
    The Hill ^ | December 16, 2013 | Justin Sink
    The White House reiterated Monday that administration officials would not negotiate over the debt ceiling, after House Budget Committee Chairman Paul Ryan (R-Wis.) said over the weekend that Republicans would seek concessions in exchange for extending the limit on borrowing. "The president's position has not changed," said White House press secretary Jay Carney. Carney said officials were skeptical that Republicans would actually pursue the strategy after the polling hit the party took during the government shutdown earlier this year. "We do not expect Republicans to walk that path again, precisely because it proved so disastrous," Carney said. But Ryan on...
  • Senate poised to pass budget

    12/13/2013 11:52:27 AM PST · by Cincinatus' Wife · 15 replies
    Politico ^ | December 13, 2013 | MANU RAJU and BURGESS EVERETT
    Senate Democrats are on the cusp of securing enough GOP votes to break a filibuster next week on the bipartisan budget, temporarily ending the fiscal crises that have dominated Washington for the past several years. With 53 Democrats and two independents expected to back the measure, four Republicans — John McCain of Arizona, Susan Collins of Maine, Jeff Flake of Arizona and Richard Burr of North Carolina — said that they would vote to cut off debate on the budget, putting proponents just one vote shy of advancing the measure to final passage. Several additional GOP senators signaled Friday that...

    12/12/2013 4:09:36 PM PST · by RightSideNews · 2 replies
    Right Side News ^ | 12/12/2013 | Eliana Benador
    While American babies are born with 54,320 debt on each citizen, PLUS a $149,947.00 per taxpayer on their shoulders, Australia’s national debt is a half-a-trillion only. The amounts are simply staggering. And, as the National Debt Clock keeps turning, numbers are at 17,224,121,XXX,XXX trillion. The clock’s mechanism is so accurate and runs at such speed that a naked eye can barely catch changes at the infinitesimal seconds at which it turns. As American citizens at large need to understand the methodology of a debt and the way to recovery, we repeat here the economic formula, courtesy of Investopedia: GDP =...
  • Budget text released as House moves swiftly toward vote

    12/11/2013 4:45:53 AM PST · by Cincinatus' Wife · 11 replies
    The Hill ^ | December 11, 2013 | Erik Wasson
    The House Budget Committee filed the text of the new Ryan-Murray budget deal before midnight on Tuesday and the Rules Committee announced an emergency meeting at 2 p.m. on Wednesday to prepare a House floor vote on the package. The text of the $85 billion deal is here. [77 page PDF] The deal sets spending levels for 2014 and 2015, allowing appropriators to create a fully detailed omnibus spending package before the government shutdown deadline of Jan. 15. The spending panel will also now have the chance to do all 12 individual appropriations bills for 2015 before the Oct. 1...
  • Cato's Tanner: 9-in-10 Obamacare Sign-Ups Are for Medicaid

    12/09/2013 10:32:19 PM PST · by 2ndDivisionVet · 12 replies
    NewsMax ^ | December 9, 2013 | Sandy Fitzgerald
    Some 1.6 million Americans have registered for Obamacare, but more than nine-out-of-10 of them actually signed up for Medicaid, a trend that could end up slamming federal and state government budgets. Medicaid, Medicare, and Social Security already account for 48 percent of federal spending, writes economist Michael Tanner, a senior fellow for the Cato Institute, in an article for The New York Post. But with Obamacare adding to the Medicaid costs, "we are picking up speed on the road to insolvency," Tanner writes. The Medicaid program is already the third-largest government program in the United States, coming in only behind...
  • Note to Liberals: America's Debt Already Exceeds 100% of GDP

    11/21/2013 7:58:11 AM PST · by SeekAndFind · 9 replies
    American Thinker ^ | 11/21/2013 | Sierra Rayne
    Over at The Atlantic, Ron Fournier -- the editorial director of National Journal -- argues that the Republicans are "The Party of Zilch."  As part of his rationale for why the GOP "stands for nothing," Fournier states that "[t]he country needs to tame a massive debt that will be 100 percent of the gross domestic product by 2038 unless Congress raises revenue and trims entitlements. No, says the GOP." Here is a news flash for The Atlantic: the American gross federal debt already exceeds 100% of GDP.  No need to wait until 2038; it is currently at 106.5% of...
  • Entitlement Reform, Tea Party Style

    11/14/2013 4:24:37 AM PST · by Cincinatus' Wife · 2 replies
    The American Spectator ^ | November 14, 2013 | Peter Ferrara
    The Tea Party/Republican House majority was elected in 2010 to stop the runaway Obama Progressive Democrat big government spending spree........Federal spending soared from $2.655 trillion in 2006,when the Democrat Congress was elected to replace the Republican Congress, to $3.6 trillion in fiscal 2011, reflecting the last spending legislation adopted by that completely Democrat Congress in the prior year, an increase of 36% in just four years of control.But after the new Tea Party/Republican House majority forced a major budget showdown in 2011,total, actual, nominal federal spending actually declined in fiscal 2012 to $3.54 trillion. Such an absolute decline rarely ever...
  • Taxpayers Speak Out on Election Day 2013

    11/13/2013 1:14:39 PM PST · by ThethoughtsofGreg · 3 replies
    American Legislator ^ | 11-13-13 | Andrew Bender
    Since there were no federal offices up for election last week and only a handful of statewide races, you may have missed many of the results. Across the country this election cycle, voters considered raising income and sales taxes, raising the minimum wage, whether or not to add to a state’s current debt level, or to refuse these changes in favor of fiscal responsibility and taxpayer protection. The National Taxpayers Union has put together a great list of the “good, bad, and ugly” of last week’s election. As NTU reports, some of the most costly tax increases were avoided, while...
  • Mitch Daniels: Sequestration Is a Bad Idea

    10/31/2013 5:13:00 PM PDT · by SkyPilot · 22 replies
    Newsmax ^ | 31 Oct 13 | John Gizzi
    In rare political remarks since becoming president of Purdue University, former Indiana Gov. Mitch Daniels has voiced sharp disagreement with many fellow Republicans over whether the automatic spending cuts known as sequestration should continue. Daniels, once director of the Office of Management and Budget under George W. Bush, dubbed sequestration a "bad idea" during a press breakfast hosted by the Christian Science Monitor. In so doing, the 64-year-old Daniels put himself on the opposite side of such national conservative leaders as Americans for Tax Reform President Grover Norquist, who recently told Newsmax "in the short term, it's important to...
  • House approves 'messaging' bill opposing debt ceiling hike

    10/30/2013 12:29:02 PM PDT · by Cincinatus' Wife · 8 replies
    The Hill ^ | October 30, 2013 | Pete Kasperowicz
    The House on Wednesday passed a resolution that disapproves of President Obama's decision to suspend the debt ceiling until early February. The House passed the disapproval resolution, H.J.Res. 99, in a 222-191 vote. Three Democrats voted for it, while four Republicans voted against it and two GOP members voted "present." Democrats voting in favor were Reps. John Barrow (Ga.), Jim Matheson (Utah), and Mike McIntyre (N.C.). Republicans voting against were Reps. Charlie Dent (Pa.), Joe Heck (Nev.), Darrell Issa (Calif.), and Peter King (N.Y.). Reps. Thomas Massie (R-Ky.) and Reid Ribble (R-Wis.) voted "present." The resolution was the result of...
  • Obama blasts sequester during remarks at FBI - "politics in this town" - "I'll keep fighting..."

    10/28/2013 10:28:26 AM PDT · by Cincinatus' Wife · 11 replies
    The Hill ^ | October 28, 2013 | Justin Sink
    President Obama told FBI agents on Monday that he would fight to reverse sequester cuts that have trimmed the agency's budget, declaring that the "least we can do" for those who put their lives on the line was make sure "operations are not disrupted because of the politics in this town." "I'll keep fighting for those resources because our country asks and expects a lot from you, and we should make sure you've got the resources you need to do the job, especially when many of your colleagues put their lives on the line on a daily basis, all to...
  • The Third Conception: Growing the Debt

    10/24/2013 3:25:57 AM PDT · by NaturalBornConservative
    Natural Born Conservative ^ | October 23, 2013 | Larry Walker Jr
    From an Extreme Radical Independent Centrist- By: Larry Walker II -In his 1943 study entitled, The New Philosophy of Public Debt, U.S. economist, founder and 1st president of Brookings Institution (1927-1952), Harold G. Moulton expounded on the two conflicting debt philosophies of that era. First was the traditional view, that “a continuously unbalanced budget and rapidly rising public debt imperil the financial stability of the nation.” And, second, the new conception of the day, that “a huge public debt is a national asset rather than a liability and continuous deficit spending is essential to economic prosperity of the nation.”At...
  • US debt ceiling was not raised it was removed

    10/20/2013 7:07:58 PM PDT · by 2ndDivisionVet · 19 replies
    Digital Journal ^ | October 20, 2013 | Ken Hanly
    The recent bipartisan deal to end the government shutdown and avoid government default, did not raise the debt ceiling but in effect removed any ceiling until February 7 next year. With no new ceiling to bump against the debt went up a record $328 billion just a day after the deal passed. This far surpassed the $238 billion record set two years ago. The huge leap is largely blamed on the government replenishing its supply of extraordinary measures by repaying Federal Funds it borrowed to prevent hitting the debt ceiling earlier. It will now be prepared if there is no...
  • Friend, to what hast thou become?

    10/17/2013 9:53:04 AM PDT · by WTFOVR · 32 replies
    Myself | October 17, 2013 | WTFOVR
    Someone commented on a different thread that Republican Senator Mitch McConnell (KY) ought "fall on his sword." ... I suppose that is one way to phrase the sentiment. I have different idea as to what should be done with this man, and his traitorous cohorts - but then again, I do not want to get kicked off this forum, so I shall constrain my remarks to the following opinions ... Will somebody here on FR please provide a rational argument as to why I should remain a Republican? I will always be a conservative - both fiscal AND social; however,...

    10/16/2013 2:05:28 PM PDT · by dontreadthis · 3 replies
    WATCHDOGWIRE – FLORIDA ^ | October 11, 2013 | Dr. Richard Swier
    Joseph J. Dioguardi is a former member of Congress from New York and Certified Public Accountant. Dioguardi in his book “Unaccountable Congress: It Doesn’t Add Up” lists the top twelve gimmicks Congress uses to hide the true costs of government from the people. These gimmicks have been used for decades by both Republican and Democrat administrations, Congresses under both parties and government agencies. The idea behind these gimmicks is to “[K]eep Americans in the dark (or – I should say – in the red!), writes, Dioguardi. Dioguardi calls this “plastic budgeting”. As David A. Stockman, former Director of the Office...
  • China Got into Bed with the U.S. Treasury and Can’t Get Out

    10/15/2013 7:35:37 PM PDT · by TexGrill · 7 replies
    TIME ^ | 10/15/2013 | Michael Schuman
    The Chinese sure are doing a lot of worrying these days about the stalemate in Washington. Li Keqiang, China’s Premier, told U.S. Secretary of State John Kerry that he was watching the tussle over raising the government’s debt ceiling with “great attention” in a meeting last week. He has good reason to be concerned. With a stash of nearly $1.3 trillion in Treasury securities, China is the world’s largest foreign owner of U.S. government debt. If the U.S. Congress fails to lift the ceiling to allow the government to borrow more by Thursday, Washington may not have enough money to...
  • The parable of Obama the used car salesman...

    10/08/2013 3:59:57 PM PDT · by Askwhy5times · 9 replies
    Bluegrass Pundit ^ | Bluegrass Pundit
    A man's car motor locked up and he needed another car fast or he would lose his job, fail to make his house payment and lose his credit rating. The only car lot for miles was 'Slick Obama's Sleazy Motors.' The man had gotten ripped off on his last deal there, but had little choice since this was the only car lot around. When he got to the dealership, he was met by owner Barack Obama. After explaining his situation, Obama told the man he only had one car available for him. It was a '1995 Cadillac DeVille' for $10,000....
  • Quotes of President Barack Obama on the Budget, Deficit, Debt and Deficit Ceiling

    10/07/2013 1:34:29 PM PDT · by 2banana · 4 replies
    2banana | 07 OCT 2013 | President Obama
    “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. government can’t pay its own bills. ... I therefore intend to oppose the effort to increase America’s debt limit.” -- 3/16/2006 Floor speech in the Senate First, we learned that the federal budget deficit could reach nearly half a trillion dollars next year. Eight years after we had a record surplus, we’re now faced with record deficits. This mortgaging of our children’s future is a direct result of the Bush Administration’s dangerously failed fiscal...
  • Sessions: Obamacare Built On An Accounting Fraud

    10/06/2013 9:19:54 AM PDT · by Whenifhow · 12 replies ^ | October 4, 2013 | SenatorSessions
    Senator Schumer and many of our Democratic colleagues have been conducting a sustained and direct attack on the millions of people who supported and identified with the Tea Party movement. Make no mistake about it they don’t respect the people in the Tea Party movement they demean them in every way and virtually every day in this body. And everybody that is part of that movement, because they believed in America, they thought this US congress has gone lunatic in spending their country into bankruptcy. And passing Obamacare over the overwhelming objection of the American people and they did it...
  • U.S. Government Shutdown: Negotiation 101

    10/04/2013 3:47:49 PM PDT · by NaturalBornConservative · 5 replies
    Natural Born Conservative ^ | October 4, 2013 | Larry Walker Jr
    Give Up 300,000 Federal Workers… and then we’ll talk.- By: Larry Walker II -“Treasury Secy. Jack Lew warns the country will run out of money later this month. Actually, that's another lie. The country ran out of money $17 trillion ago. It's all borrowed since then, much of it by this administration.” ~ Andrew Malcolm *The United States federal government shutdown of 1995 and 1996 was the result of conflicts between Democratic President Bill Clinton and the Republican Congress over funding for Medicare, education, the environment, and public health in the 1996 federal budget. The government shut down after Clinton...
  • G.O.P. Elders See Liabilities in Shutdown

    10/04/2013 5:26:37 AM PDT · by Oldeconomybuyer · 79 replies
    New York Times ^ | October 3, 2013 | By JONATHAN MARTIN
    The hard-line stance of Republican House members on the government shutdown is generating increasing anger among senior Republican officials, who say the small bloc of conservatives is undermining the party and helping President Obama just as the American people appeared to be losing confidence in him. “Fighting with the president is one thing,” said Senator Roy Blunt, Republican of Missouri. “Fighting with the president and losing is another thing. When you’re in the minority you need to look really hard to find the fights you can win.” And on Wednesday at a private luncheon, several Senate Republicans — Dan Coats...
  • The Deficit is actually DECREASING during shutdown! Share this link!

    10/03/2013 9:12:43 AM PDT · by DouglasKC · 71 replies
    US Debt Clock ^ | 10/3/2013 | self
    This link is to the: US Debt Clock It's a real time representation of, among other things, federal spending. What's cool is that during the shutdown federal spending is actually LESS then the DEFICIT is decreasing by about $170,000,000 a day. Why this is deadly to the libs is that the longer the shutdown goes, the more people will see how bloated the government is. The slimdown is just cutting the fat and it's already making a huge difference. The longer it lasts the more people will see that, hey, it's no skin off our teeth AND we're getting...
  • ObamaCare Phones Offered To Health Insurance Buyers

    10/03/2013 7:49:08 AM PDT · by Red in Blue PA · 16 replies
    Say hello to Obamacare phones. In Tennessee, those shopping on the new health insurance co-ops could end up with more than just some health insurance. They might even walk away with a free smartphone. The Nashville Business Journal is reporting that Community Health Alliance, Tennessee’s Obamacare health insurance co-op, is using the prospect of a free phone to encourage folks to enroll:
  • Harry Reid: 'Why Would We Want To' Help One Kid With Cancer? (DISGRACEFUL!)

    10/02/2013 4:59:20 PM PDT · by Red in Blue PA · 38 replies
    What a pathetic excuse for a Senator.
  • How will ObamaCare add to the national debt?

    10/02/2013 12:53:11 PM PDT · by JediJones · 5 replies
    Independent Women’s Voice ^ | 2011 | Independent Women’s Voice
    [current U.S. national debt is just under $17 trillion according to] By 2020, the debt per family is expected to be $194,000 [nearly triple what it was 20 years ago]. [This doesn't] include the massive unfunded liabilities of the Social Security, Medicare and Medicaid programs (another $115 trillion...)...some of the biggest drivers of our debt. Rather than reform our current entitlement structure, ObamaCare actually expands the role of government in health care, to the cost of taxpayers and our foreign lenders. The Congressional Budget Office (CBO) originally estimated that ObamaCare would cost about $1 trillion. But that estimate has...
  • On Obamacare (and Guns), We Won't Comply

    10/02/2013 9:42:49 AM PDT · by Kaslin · 8 replies ^ | October 2, 2013 | John Ransom
    Americans know instinctively that when liberals start talking about deficit reduction that’s it’s just a case of the fantods, as Huckleberry Finn would say. And say what you will about old Huck, but he knew a couple of frauds when he saw them. "Hain't we got all the fools in town on our side?," said Huck Finn's fraudulent king in the Adventures of Huckleberry Finn. "And ain't that a big enough majority in any town?" It certainly is enough in DC, but the rest of the US isn't so gullible. No matter what liberal “Wonks” like Ezra Klein say about...
  • 91% Of The IRS Has Been Furloughed: Here Is Who Else Got The Government Shut Down Axe

    10/01/2013 11:50:28 PM PDT · by Zakeet · 33 replies
    Zero Hedge ^ | October 1, 2013
    For all the drama surrounding today's political drama (which came and went largely unnoticed by a stock market hypnotized by the Federal Reserve), the bottom line is that the key impact of last night's historic government shutdown has been nothing more (or less) than the temporary unpaid leave of absence, i.e. furloughs (with all accrued, owed payments promptly being remitted once the government is unhalted) of some 815,932 civilian government workers, out of a total of 2 million, or a 41% furlough rate. As the WSJ tabulates "some agencies, such as the Bureau of Labor Statistics, are seeing all but...