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Keyword: nationaldebt

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  • The Nation's Budget Outlook Is Worse Than You Think

    08/27/2015 5:24:55 AM PDT · by IBD editorial writer · 15 replies
    Investor's Business Daily ^ | 08/26/2015 | Staff
    Budgets: The bad news is that the country is headed toward $1 trillion deficits in 10 years, according to the Congressional Budget Office. The worse news is that, if history is any guide, this forecast is probably way too optimistic.
  • RANKED: The world's national debts, from safest to most risky

    08/14/2015 6:19:30 AM PDT · by SeekAndFind · 4 replies
    Business Insider ^ | 08/14/2015 | Ben Moshinsky
    Bank of America's Transforming World Atlas has loads of lovely infographics in it, but one of the most colourful is a map of the world's riskiest sovereign debt.The map uses the prices of credit-default swaps, which are derivatives that pay out if a borrower defaults.Here's the map:BAML Sovereign credit-default swaps have been used as a type of insurance against sovereign governments not paying back the money they owe. As with any insurance product, the more expensive it is, the more likely the event you're insuring against will happen soon.
  • Liberal defenders of the poor still fascinated with Scott Walker’s credit card debt

    08/04/2015 5:38:33 PM PDT · by SeekAndFind · 23 replies
    Hotair ^ | 08/04/2015 | Jazz Shaw
    I suppose Scott Walker is still polling a little too well for the comfort level of liberal commentators. If that weren’t the case, one wonders if they would still be so obsessed with the financial situation of one of the least wealthy candidates for the presidency. But since this tired story is being whipped up for another lap around the campaign track, let’s check in on the latest financial burdens being discussed around the kitchen table in the Walker household. (National Journal) Gov. Scott Walker has two credit-card debts of more than $10,000 apiece on separate cards and is...
  • Would Americans riot if entitlements were taken away?

    07/17/2015 11:18:42 AM PDT · by MarchonDC09122009 · 106 replies
    Senator Jerry Moran discusses dangers of national debt, and entitlements and warns what's happening in Greece may foretell America's fate. When the Gov't teat runs dry, have a SHTF plan.
  • A Greek Tragedy: Could Federal Debt Turn the United States into Greece?

    07/10/2015 5:37:34 AM PDT · by Kaslin · 19 replies
    Townhall.com ^ | July 10, 2015 | Allen West
    Editor’s Note: This column was coauthored by Geno Lattus. The perfect formula for financial crisis: Imagine a country that spends more than it makes and continues to borrow to make up the difference, leaving it forever catching up on debt payments because of mounting interest. Another analysis on the Greek crisis? No. The United States is running its government in the same fundamental way as Greece and a meltdown may be coming soon. The Greek Formula. Greece recently defaulted on a $1.8 billion debt payment to the International Monetary Fund (IMF). After borrowing large sums, big bailouts and profligate government...
  • Essay on Labor, Minimum Wage, Taxes, Immigration, Federal Budgets and Train Wrecks

    05/13/2015 12:21:50 PM PDT · by concernedcitizen76 · 3 replies
    Original work | May 13, 2015 | Self
  • Grants Because the Economy Isn’t Doing So Well

    04/08/2015 4:06:10 PM PDT · by Sean_Anthony · 1 replies
    Canada Free Press ^ | 04/08/15 | Dr. Ileana Johnson Paugh
    While we keep printing, spending, and giving away billions of dollars like there is no tomorrow, can anybody mathematically comprehend what $18 trillion of national debt means? Does anyone even care anymore? The economy is so rosy, the statistics tell us, we are at what economists call full employment. “Full employment is a situation in which everyone who is willing and able to work can find a job. At full employment, the measured unemployment rate is still positive.” Economists have argued for years that the full employment number was somewhere “near 5 percent unemployment.” President John F. Kennedy tried to...
  • The 5 Dumbest Ideas That Have Taken Root In America

    04/07/2015 5:18:06 AM PDT · by Kaslin · 35 replies
    Townhall.com ^ | April 7, 2015 | John Hawkins
    Humans are extremely adaptable creatures; so we tend to quickly acclimate ourselves to our circumstances until they become the "new normal." However, sometimes when you have a hole in the bottom of your boat, it's a better idea to try to address it than to just keep bailing water all day long. For example, here in America we seem to believe that... 1) The only religion it's okay to mock is the most popular one, Christianity: Roughly 80% of Americans are Christian; yet which religion is openly mocked by Hollywood and the mainstream media? Is it Judaism? No, that would...
  • Scott Walker pledges to 'push back' on Obamacare [ethanol, other regs and mandates phased out)

    04/02/2015 1:46:04 AM PDT · by Cincinatus' Wife · 29 replies
    Milwaukee Journal Sentinel ^ | April 1, 2015 | Patrick Marley
    Brookfield— Speaking before a conservative audience Wednesday, Gov. Scott Walker suggested he would not allow Wisconsin to set up a health care exchange if the U.S. Supreme Court strikes down a portion of Obamacare. "We're going to push back," the likely Republican presidential candidate said of President Barack Obama's signature health care law. "This president of the United States — they've got to come up with a solution....They're going to try to put the pressure on us but we need to put the pressure right back on them." Walker spoke at the Sharon Lynne Wilson Center for the Arts as...
  • House Democrats unveil budget matching Obama’s tax increases

    03/23/2015 11:18:17 AM PDT · by Olog-hai · 11 replies
    Associated Press ^ | Mar 23, 2015 1:20 PM EDT | Andrew Taylor
    House Democrats have unveiled a $3.7 trillion budget plan for next year. It mirrors President Barack Obama’s call for $1.8 trillion in tax increases on wealthier people and corporations over the coming decade but would add almost $6 trillion to the national debt over that time. […] The plan calls for a wave of new spending for infrastructure like roads and bridges and additional funding for education and medical research. It would make modest curbs on the rapid growth of the popular Medicare program. …
  • Debt-Default Crisis 2015: Raise, and Then Raze, the Debt Ceiling

    03/19/2015 9:03:09 AM PDT · by Citizen Zed · 6 replies
    Huffington Post ^ | 3-17-2015 | Victor Williams
    Interest rates will skyrocket, instability will roil the financial markets, the federal deficit will soar and the resulting "catastrophic" harm will last years. That is how Treasury Secretary Jacob J. Lew describes a debt-ceiling breach certain to cause a government default. Uncle Sam will be bankrupt. All national government operations will seize-up. All checks for Social Security, Medicare, Medicaid, veterans, contractors and vendors will bounce. At the stroke of midnight, March 16, 2015, the debt ceiling was again breached. The Treasury Department has begun "extraordinary measures" to forestall the certain default. Jack Lew must rob Peter to pay Paul. He...
  • 5 Things To Know About Obama's $4 Trillion Budget

    02/03/2015 8:01:39 AM PST · by Kaslin · 3 replies
    Townhall.com ^ | February 2, 2015 | Conn Carroll
    resident Obama unveiled his fiscal year 2016 budget Monday, a proposal that would spend $3.99 trillion while running a $474 billion deficit. The document will serve as a blueprint for White House policy for upcoming fights with Republicans on immigration, health care, infrastructure, and tax reform. Highlights every conservative should know include:1. Higher SpendingObama's budget would increase spending by $74 billion in 2016 compared to current law, and by $322 billion over the next five years. Federal government spending as a percentage of GDP would rise from 20.3 percent in 2014 to 22.2 percent in 2025.The biggest spending increase items in Obama's budget...
  • Obama threatens stopping paychecks to 143,000 Homeland Security employees

    02/03/2015 7:28:23 AM PST · by drypowder · 69 replies
    Daily Mail ^ | Feb. 2, 2015 | David Martosko
    President Barack Obama claimed on Monday that without a comprehensive budget covering the Department of Homeland Security, more than 130,000 mission-critical employees will be forced to work without pay by the end of the month. They include 40,000 employed by Customs and Border Protection, 50,000 Transportation Security Administration screeners, 13,000 Immigration and Customs Enforcement agents and 40,000 Coast Guard personnel. Pay would be restored at the end of any withholding period. 'I know how vital you are, and I want to make sure more Americans know how vital you are,' Obama told an auditorium full of DHS employees Monday the...
  • When the national debt was zero: An overflowing Treasury bedeviled earlier presidents

    01/08/2015 7:07:53 AM PST · by SeekAndFind · 11 replies
    Washington Times ^ | 01/08/2015 | Thomas V. DiBacco
    On Jan. 8, 1835, the U.S. national debt stood at zero, the first and only time in its history. It was a remarkable turnabout from Jan. 1, 1791, when the federal government was in debt to the tune of $75,463,476.52. But that wasn’t the peak amount of indebtedness for the new nation ($120 million), which occurred at the end of the three-year War of 1812. To be sure, President Andrew Jackson, under whose watch the no-debt day was achieved, was jubilant, and a big Washington party overflowed with superlatives, as illustrated by Missouri Sen. Thomas Hart Benton’s remarks: “The apparition,...
  • They are preparing for you

    12/27/2014 9:45:42 AM PST · by kindred · 41 replies
    conservativenewsandviews.com ^ | December 19, 2014 | Dwight Kehoe
    A wheelbarrow of money to buy a loaf of bread. This is what Obama, with his fiscal cliff plan, threatens us with. For many years now we have heard chilling tales about that elusive, powerful and manipulative entity conspiracy theorists have called “The New World Order”. Not only have the members of this group managed for the most part to remain anonymous, but their agenda has remained mysterious and obscure. So much so that many good people have been perfectly fine with ignoring its existence or viability. Whether or not this New World Order is in lockstep with World Communism...
  • Politics: Obama and Facebook friends discuss distraction ideas as debt tops $18 trillion

    12/05/2014 3:01:09 PM PST · by EveningStar · 9 replies
    CainTV - Best of Cain ^ | December 5, 2014 | Michael Johnson
    Taco Tuesdays, anyone?
  • The national debt is now $18 trillion. How would you pay it off?

    12/02/2014 9:51:47 AM PST · by SeekAndFind · 79 replies
    Penn Live ^ | 12/02/2014 | By John L. Micek
    So here's a positively eye-watering number: America's national debt (not its deficit, which is something different entirely, so stop confusing them, please) is now a gobsmacking $18 trillion or $7 trillion higher than when President Barack Obama took office in 2008, The Washington Post reports.According to the right-leaning Powerline blog, "41 percent of the national debt of the United States, from George Washington to the present, has accrued during the Obama administration."(In case you were wondering, the 2014 budget deficit came in at a comparably smaller $483 billion, which "[represented] the smallest deficit as a percentage of GDP since the George...
  • The Problem of Pain

    10/21/2014 8:27:27 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | October 21, 2014 | Barney Brenner
    The problem of pain, to borrow a title from C.S. Lewis, is that with regard to our enormous national debt, there is none. As great an impending disaster as it’s alleged to be, you’d think there’d be signs of suffering. No less a luminary than Rush Limbaugh speaks of his Dad’s warning when Rush was a kid that this immense obligation, only $1 trillion at the time, would be our undoing. Yet now at 17 times that size, it appears just a calamity without a consequence. But the reason for this is simple: we’re engaged in the biggest can-kicking endeavor in...
  • National debt has doubled since financial crisis: Congressional Budget Office

    08/27/2014 9:24:30 AM PDT · by SeekAndFind · 11 replies
    Washington Examiner ^ | 08/27/2014 | BY JOSEPH LAWLER
    The federal debt this year will be double what it was before the financial crisis, Congress’ official budget scorekeeper projected Wednesday morning. The debt is on pace to reach 74 percent of the country’s economic output by the end of the year, double what it was in 2007 and the highest percentage since 1950, according to the Congressional Budget Office. In its update to its projections for the budget and economy, the agency slightly upped its estimate for the 2014 deficit, which it now expects to total $506 billion, a $170 billion decline from 2013. The federal debt this year...
  • The Era of Spiraling Debt: How Long Will the Scheme Last?

    08/05/2014 7:38:49 AM PDT · by SeekAndFind · 10 replies
    FrontPage Mag ^ | 08/05/2014 | Arnold Ahlert
    To the surprise of absolutely no one, the nationÂ’s debt has skyrocketed during President Barack ObamaÂ’s tenure. In a little over five and a half years, the Obama administration has added more than $7 trillion to the total, a number that represents more debt accumulation than the administrations of George Washington through Bill Clinton combined. At the close of business on July 31, the nationÂ’s debt was $17.6 trillion, with $7.06 trillion of it accumulated since Obama was inaugurated in 2009. CNS News offers some gut-wrenching perspective regarding the numbers: As of June, there were 115,097,000 households in the United...
  • Grim Milestone: Current Administration Adds $7 Trillion to National Debt

    08/04/2014 2:53:36 PM PDT · by Kaslin · 7 replies
    Townhall.com ^ | August 4, 2014 | Daniel Doherty
    On July 3, 2008, then-presidential candidate Barack Obama infamously called President George W. Bush “unpatriotic,” and his polices “irresponsible” for adding $4 Trillion to the country's "credit card." This was almost more than all other US presidents combined, he argued, and therefore was putting America on a dangerous path to fiscal insolvency. Less than six years into his own administration, however, the president has failed to reverse the untenable course set by his predecessor; and, indeed, is making America's heavy debt burden even worse. CNS News reports: The total federal debt of the U.S. government has now increased more than...
  • Spending and Morality

    07/09/2014 4:32:11 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | July 9, 2014 | Walter E. Williams
    During last year's budget negotiation meetings, President Barack Obama told House Speaker John Boehner, "We don't have a spending problem." When Boehner responded with "But, Mr. President, we have a very serious spending problem," Obama replied, "I'm getting tired of hearing you say that." In one sense, the president is right. What's being called a spending problem is really a symptom of an unappreciated deep-seated national moral rot. Let's examine it with a few questions. Is it moral for Congress to forcibly use one person to serve the purposes of another? I believe that most Americans would pretend that...
  • Argentina president defies US court order on repayment of debts

    06/17/2014 5:09:22 AM PDT · by Q-ManRN · 24 replies
    Fox News.com ^ | June 17, 2014 | FoxNews,com
    Argentina's president has said that she would refuse to comply with a U.S. judge's order to pay $1.5 billion to winners of a decade-long legal battle over defaulted debt after the U.S. Supreme Court refused to hear her government's final appeal. Delivering a nationally broadcast address Monday night, Cristina Fernandez expressed willingness to negotiate with the winners, but said there is simply no way that Argentina can pay the amount in cash, in full, starting just two weeks from now, which is what the U.S. courts have ordered. Under the U.S. court orders, Argentina must hand over $907 million to...
  • End the Debt Draft

    03/19/2014 11:49:06 AM PDT · by RWB Patriot · 6 replies
    The Ayn Rand Institute ^ | 3-13-14 | Dot Watkins
    Forty thousand dollars. That’s roughly your share of the U.S. national debt. That’s bad, but it’s nothing compared to the debt the government’s going to be racking up in the years ahead thanks mainly to America’s old-age welfare programs. As the Baby Boomers retire, the bill for Social Security and Medicare will grow fast, setting off a debt tsunami. Economists can estimate the difference between how much government is on track to spend and how much it will raise from taxes. They call this “the fiscal gap.” That number is astronomical: $205 trillion dollars, or more than half a million...
  • 5 Structural Problems That Are Destroying America

    03/15/2014 5:49:12 AM PDT · by Kaslin · 49 replies
    Townhall.com ^ | March 15, 2014 | John Hawkins
    The biggest fallacy in politics is that we need "another Reagan" or more "Tea Partiers" in Congress if we want to save the country. Granted, either would certainly help, but America's structural problems are much bigger than any personnel issues we have in D.C. Even if you're an extremely talented craftsman, you're going to have trouble building a house if the only materials you're allowed to work with are sand and straw. It wouldn't matter if Kobe Bryant, LeBron James, and Kevin Durant were all on the same basketball team if they were only allowed to put three players...
  • Obama's Budget Proposal - Lower Deficit, Higher Debt, Interest Keeps Growing

    03/05/2014 3:55:58 AM PST · by LD Jackson · 8 replies
    Political Realities ^ | 03/05/14 | LD Jackson
    If the news from the past few days hasn't been enough to dampen your fire, try this on for size. Tis the season for budget proposals in Washington. President Obama is the first to reveal what he wants to spend our money on, with Paul Ryan soon to follow. I'll try to take a look at Mr. Ryan's, when he turns it loose, but for now, all we have to go on is what the President has listed as his priorities. My friends, it is not pretty. It's more of the same, really. He wants more infrastructure spending, more education...
  • Boxer: 'Absolutely No Way We're Going to Cut Spending'

    03/03/2014 3:36:56 PM PST · by gooblah · 23 replies
    CNSnews ^ | March 3, 2014 - 11:23 AM | Eric Scheiner
    (CNSNews.com) - While discussing federal spending and transportation funding last week, 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. 26, when she addressed various tax increases that may be used to raise money for the program. - See more at: http://cnsnews.com/news/article/eric-scheiner/boxer-absolutely-no-way-were-going-cut-spending#sthash.bgvFVlLs.dpuf
  • Even Paul Ryan Can't Please Conservatives Anymore

    01/16/2014 3:15:25 PM PST · by SkyPilot · 78 replies
    National Journal ^ | 16 Jan 14 | Marina Koren
    This week's spending-bill fight revealed deepening fractures within the GOP, spelling trouble for 2016. Imagine the ground is splitting open beneath your feet. The rocking plates of earth slowly spread apart, and you're left straddling both sides to keep from falling in. That is how some of the most publicly visible GOP lawmakers are feeling right now. They must choose whose side they're on: establishment Republicans or the far-right flank. Ultraconservative groups are furious over the omnibus appropriations package that coasted through the Republican-led House on Wednesday. The bill, which would fund the government for the rest of the...
  • In Defeat for Tea Party, House Passes $1.1 Trillion Spending Bill

    01/16/2014 7:14:27 AM PST · by Qbert · 33 replies
    NYT ^ | 1/15/2014 | Jonathan Weisman
    WASHINGTON — The House voted overwhelmingly on Wednesday, 359 to 67, to approve a $1.1 trillion spending bill for the current fiscal year, shrugging off the angry threats of Tea Party activists and conservative groups whose power has ebbed as Congress has moved toward fiscal cooperation. The legislation, 1,582 pages in length and unveiled only two nights ago, embodies precisely what many House Republicans have railed against since the Tea Party movement began, a huge bill dropped in the cover of darkness and voted on before lawmakers could possibly have read it. The conservative political action committee Club for Growth...
  • President Obama's Legacy Of Economic Failure

    01/10/2014 10:59:32 PM PST · by Innovative · 18 replies
    Real Clear Markets ^ | Jan 10, 2014 | Wayne Brough
    Since taking office in 2009, it has been tough sledding for the economy. Congress and the administration have increased the federal debt held by the public from $7.5 trillion to $11.2 trillion in 2012. To clarify, in terms of percent of gross domestic product-a measure of the nation's total output-the federal debt has grown from 54 percent of GDP in 2009 to 72 percent of GDP in 2012, according to the Congressional Budget Office. But sector by sector, the administration appears bent on imposing the regulations that thwart entrepreneurial activity and economic growth. ObamaCare, the jewel of Obama presidency, is...
  • The Day the Dollar Dies

    01/06/2014 12:56:44 AM PST · by Yosemitest · 53 replies
    May/June 2013 Trumpet Print Edition ^ | May/June 2013 Trumpet Print Edition | Robert Morley
    The Day the Dollar Dies America’s financial Pearl Harbor is coming December 6, 2015, 3 p.m. HKT, Hong Kong Twenty-one men representing China’s most powerful institutions file into a conference room atop the ICC Tower looming over Victoria Harbor. The Politburo Standing Committee has mustered the CEOs of China’s four largest banks, Sinopec, and several other state-owned multinationals, plus officers from the Central Military Commission and a pair of academics from China’s top technology universities. The general secretary formally opens the meeting.“As you know, the United States of America continues to manipulate its currency,” he begins. “It is devaluing...
  • The National Debt in One Picture

    01/06/2014 7:26:17 AM PST · by IbJensen · 32 replies
    Heritage Foundation ^ | 1/6/2014 | Kelsey Harris
    Congress is beginning its new year with a budget deal that busts right through “caps” it was supposed to have on spending. At Heritage, we want to hold Congress accountable for its tax-and-spend ways, even as Members claim there’s no room to cut. A good place to start is understanding the mountain of debt Americans are already under. Check out and share our infographic below that puts it in perspective.
  • The greatest conceit of mankind (importance of preparedness in uncertain times)

    01/04/2014 4:19:31 PM PST · by Perseverando
    WND ^ | January 03, 2014 | Patrice Lewis
    Welcome to the New Year. The usual platitudes for early January include wishes for greater success, greater health and all-around greater prospects. But we all know our nation faces some bleak times. Our constitutional rights are at an all-time low, and our national debt is at an all-time high. The government is spying on its citizens like never before, and anyone who thinks endless spending (such as “QE Infinity”) is the way to handle our economic issues is a blind fool. In short, while I won’t go so far as to make any dire predictions for what 2014 will bring...
  • Planned Parenthood received $540.6 million in tax dollars, performed 327,166 abortions in 2012

    12/11/2013 11:51:40 PM PST · by huldah1776 · 11 replies
    LifeSiteNews ^ | December 11, 2013 | Ben Johnson
    WASHINGTON, D.C., December 11, 2013 (LifeSiteNews.com) – Planned Parenthood performed 327,166 abortions last year while collecting more than half-a-billion dollars from U.S. taxpayers, according to its most recent annual report. The numbers represent a modest decrease from 2011 levels, when Planned Parenthood performed a record-setting 333,964 abortions and collected $542.4 million, or 45.2 percent of its total revenue, from government funding. “In 2012, abortions made up 93.8 percent of Planned Parenthood’s pregnancy services, while prenatal care and adoption referrals accounted for only 5.6 percent (19,506) and 0.6 percent (2,197), respectively,” the Susan B. Anthony List noted in a fact sheet....
  • Thrifty Obamas make do with 24 Christmas trees (down from 54 last year)

    12/11/2013 6:05:16 PM PST · by Perseverando · 24 replies
    Investors.com ^ | December 09, 2013 | Andrew Malcolm
    One of the Obamas' two dozen Christmas trees arrives. You may remember earlier this year that President Obama, in a fit of pique over Congress actually allowing his sequester cuts idea to take effect, had White House public tours canceled to save lunch money. During the later partial government shutdown, he ordered national monuments "closed," even though most are open-air. Now, comes holiday season in the Obama White House. Every president entertains there, though the Obamas showed no shyness about frequent lavish celebrity galas even as millions of fellow Americans struggled during the recession's highest unemployment. Every president decorates...
  • Liberals Claim Obama Has Reduced National Deficit By 50%

    12/08/2013 4:19:46 AM PST · by LD Jackson · 42 replies
    Political Realities ^ | 12/08/13 | LD Jackson
    There are some stories that are just too good to ignore. Time would escape me to write about all the nonsensical lies coming out of liberal land, but this one is really priceless. Thanks to Cry and Howl for pointing me to this piece from a blog that is clearly trying to sell a lie to the American people. It makes the claim that President Obama has reduced the national deficit by 50%. Let me explain why that is nothing but a load of hogwash. The title of the post is "NATIONAL DEFICIT DROPS 50% UNDER OBAMA ADMINISTRATION!". I'll come...
  • Now You Can't Trust Anyone Over 60

    12/06/2013 12:20:57 PM PST · by Kaslin · 14 replies
    Townhall.com ^ | December 6, 2014 | Suzanne Fields
    A gift of days with the extended family stretching from Thanksgiving through Cyber Monday inevitably invites reflection on the fields of folly where we find the rising generations at work and play. Youth, beautiful in its blossoming, arrives with predictable attitude, often illustrated by various piercings and tattoos. They're adolescents forever in search of a way to make the "meaningful" statement, as elusive as the maturity that lies ahead. Babies, naturally, are exempt from criticism, gurgling and sucking their thumbs, blissfully unaware that the Brobdingnags around them are blowing their inheritance on big-government deficits. But as the seniors say, leaving...
  • CLANCY: The power to borrow and the power to go broke

    10/24/2013 8:34:50 PM PDT · by mbj · 6 replies
    The Washington Times ^ | October 23, 2013 | Dean Clancy
    On Oct. 16, Congress gave President Obama a blank check. That’s right. For the next three months, our chief executive will be able to increase the national debt as much as he wants, and as a practical matter, no one will be able to stop him. A newly enacted law, H.R. 2775, temporarily suspends the U.S. government’s statutory debt limit and shifts Congress‘ borrowing power to the president. This is a radical and unprecedented delegation of power that should trouble every American.
  • 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...
  • Under Boehner: Debt Up $3T Under 3 Yrs—Enough to Buy Every Household 3 Yrs Tuition at State College

    10/20/2013 9:47:15 PM PDT · by Olog-hai · 6 replies
    Cybercast News Service ^ | October 20, 2013 - 11:28 PM | Terence P. Jeffrey
    Since John Boehner became speaker of the U.S. House of Representatives on Jan. 5, 2011, the debt of the federal government has increased by $3,064,063,380,067.72. That is more than the total federal debt accumulated in the first 200 years of the U.S. Congress—during the terms of the first 48 speakers of the House. It also equals about $26,722 for each of the 114,663,000 households the Census Bureau estimates are now in the United States. The $26,722 in new debt per household accumulated under Speaker Boehner would have been more than enough to buy every household in the United States a...
  • Treasury Was Open for Business on Third Day of ‘Shutdown:’ Issued $106B in New Debt

    10/06/2013 10:49:57 AM PDT · by Olog-hai · 4 replies
    Cybercast News Service ^ | October 6, 2013 - 8:59 AM | Terence P. Jeffrey
    Although politicians and the press have generally referred to what has been happening in the federal government since Tuesday, Oct. 1 as in a “shutdown” or “partial shutdown,” that did not prevent the U.S. Treasury from being open for business on Thursday—the third day of the “shutdown” and issuing $106.291 billion in new debt, according to the Daily Treasury Statement released at 4:00 p.m. on Friday. … Even though the net debt held by the public declined by $5.039 billion in Thursday, and the cash reserved declined by $33.080 billion, according to the Daily Treasury Statement, the same statement said...
  • World’s First “Trillionaire” Offers to Pay Down U.S. National Debt

    10/06/2013 11:04:19 AM PDT · by SoFloFreeper · 33 replies
    heritage.org ^ | 10/4/13 | Josh Shepherd
    A restaurant manager from Tyler, Texas, briefly became the world’s first trillionaire earlier this week—until his $4 trillion bank balance was found to be an online glitch. In an interview with KLTV, Reggie Theus said he would have used $3 trillion of his windfall to pay down the national debt.
  • 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...
  • Clinton says Obama needs to call the GOP's 'bluff'

    09/29/2013 11:42:00 AM PDT · by Eleutheria5 · 67 replies
    CNN ^ | 29//13 | Ashley Killough
    Former President Bill Clinton, who sat in the Oval Office during the last government shutdown, supports President Barack Obama's refusal to negotiate with congressional Republicans and argues he should call their "bluff" as the government nears a possible shutdown and default. "He could stop it, but the price of - the current price of stopping it is higher than the price of letting the Republicans do it and taking their medicine," he said in an interview that aired Sunday on ABC's "This Week." Clinton went on to say that House Republicans, having realized they have little chance of pushing through...
  • Polls: More than 60% of Americans want spending cuts

    09/28/2013 9:15:43 PM PDT · by cutty · 8 replies
    DG ^ | Sep 28, 2013 | Michael Krebs
    more than 60 percent of Americans want spending cuts. ... According to a Rasmussen Reports poll published earlier this week, 64 percent of Americans surveyed believe that spending cuts are the best option for the economy. ... Washington has raised the debt limit seven times during Obama’s presidency, adding $43,000 of debt for every American household in just the past four years," the Heritage Foundation's Michael Sargent wrote. "And the last time Congress and the President raised the debt ceiling, not only did they fail to accomplish any spending cuts; they also racked up an additional $300 billion in national...
  • $17 Trillion U.S. National Debt? Try $211 Trillion!

    09/23/2013 12:17:25 PM PDT · by Zakeet · 29 replies
    Zero Hedge ^ | September 23, 2013
    ... When Standard & Poor's reduced the U.S.’s credit rating from AAA to AA-plus, it was the first time the U.S. ever suffered a downgrade to its credit rating. The S&P took this action despite the plan Congress passed last week to raise the debt limit. The downgrade, S&P said, "reflects our opinion that the fiscal consolidation plan that Congress and the administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics." It's those medium- and long-term debt problems that also worry economics professor Laurence J. Kotlikoff, who served...
  • My Response To Yesterday's Stupidity

    09/11/2013 6:05:51 PM PDT · by Absolutely Nobama · 17 replies
    Alan Levy, Gun Owner | 9/11/13 | Alan Levy, Gun Owner
    Here's my response to Commander Zer0's verbal assault on reason that took place last night. I realize that our Dear Leader's plans to provide al-Qaeda air cover may not materialize, but keep this in mind: We have a failing dictator who's willing to start world War III to distract the country from his varied scandals and Zimbabwe-like economy. Anything is still possible with this pile of human debris in the White House. Without further ado: *** For the last couple of days, we've been exposed to an endless stream of war propaganda in support of Chairman Obama's Syrian adventure. Without...
  • 100 Days: Treasury Has Kept Debt Frozen at $16,699,396,000,000

    08/26/2013 10:24:19 PM PDT · by Olog-hai · 20 replies
    Cybercast News Service ^ | August 26, 2013 - 5:47 PM | Terence P. Jeffrey
    The Treasury Department’s latest official daily accounting of the U.S. government’s receipts, expenditures and borrowings—released this afternoon at 4:00 p.m.—indicates that the legally limited debt of the federal government has now been exactly $16,699,396,000,000 for 100 straight days. The Daily Treasury Statement released today showed the status of the government’s accounts as of the close of business on Friday, Aug. 23. Because the Treasury does no business over the weekend, the federal government’s debt did not change on Saturday or Sunday. The statement for Aug. 23 said the federal debt subject to the legal limit set by Congress was $16,699,396,000,000—or...
  • US National Debt closing in on $16.9 trillion

    08/13/2013 9:27:25 AM PDT · by Starboard · 11 replies
    www.usdebtclock.org ^ | August 13, 2013 | www.usdebtclock.org
    Today's US National Debt Clock status.
  • National Debt Stacked in Dollar Bills Would Stretch from Earth to Moon Five Times

    07/27/2013 12:45:48 PM PDT · by Olog-hai · 17 replies
    Cybercast News Service ^ | July 26, 2013 - 11:11 AM | Gregory Gwyn-Williams, Jr.
    The U.S. national debt would reach 1.1 million miles into space if stacked in one dollar bills. According to the latest available data from the U.S. Treasury, the total public debt outstanding is $16,738,105,803,858.21. A dollar bill is .0043 inches in thickness. … Thus, the national debt would stretch 1,135,951 miles into the air. …