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Keyword: nationaldebt

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  • 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 countrys 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 nation’s debt has skyrocketed during President Barack Obama’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 nation’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. Thats roughly your share of the U.S. national debt. Thats bad, but its nothing compared to the debt the governments going to be racking up in the years ahead thanks mainly to Americas 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 were 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 theres 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 wont 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 Parenthoods 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. Thats 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. governments 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 YrsEnough 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. Congressduring 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 Thursdaythe 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...
  • Worlds 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 worlds first trillionaire earlier this weekuntil 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 well 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 Obamas 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 Departments latest official daily accounting of the U.S. governments receipts, expenditures and borrowingsreleased 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 governments accounts as of the close of business on Friday, Aug. 23. Because the Treasury does no business over the weekend, the federal governments 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 $16,699,396,000,000or...
  • 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.
  • Are you 'cooking the books'? (Bachmann grills Bernanke over 'extraordinary' accounting measure)

    07/17/2013 6:26:48 PM PDT · by Perseverando · 18 replies
    WND ^ | July 17, 2013 | Garth Kant
    Rep. Michele Bachmann wants to know: How in the world has the federal government not reported any increase in the national debt in 56 days? As Federal Reserve Chairman Ben Bernanke testified before the House Financial Services Committee Wednesday, Bachmann asked how there could be no increase reported in the total debt when the government is racking up about $4 billion a day in new debt. After nearly 10 years as the head of the Federal Reserve, Chairman Bernanke could not answer my question today in Financial Services Committee, Bachmann told WND. She wondered if theres a political motive involved....
  • 40 'Frightening' Facts On The Fall Of The US Economy

    05/27/2013 12:41:13 PM PDT · by Rusty0604 · 77 replies
    Zerohedge ^ | 05/27/2013 | Tyler Durden
    #2 During Obama's first term, the federal government accumulated more debt than it did under the first 42 U.S presidents combined. #4 If you started paying off just the new debt that the U.S. has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 184,000 years to pay it off. #27 Back in 1965, only one out of every 50 Americans was on Medicaid. Today, one out of every 6 Americans is on Medicaid, and things are about to get a whole lot worse. It is being projected that Obamacare will...
  • Boehner: House wont pass Senate immigration bill

    05/23/2013 12:01:32 PM PDT · by Perdogg · 130 replies
    House Speaker John A. Boehner on Thursday flatly ruled out chances of the House passing the Senates immigration bill, saying his chamber will debate its own bill instead. Mr. Boehner and his top GOP lieutenants issued a joint statement that seemed designed to tamp down some of the momentum behind the Senaate bill, which emerged from a Senate committee on a bipartisan 13-5 vote earlier this week, and to stake out a House GOP position
  • The dollar and the USA is toast (China prepping for final collapse of America)

    05/07/2013 10:50:10 PM PDT · by Perseverando · 82 replies
    WND ^ | May 7, 2013 | Lord Monckton
    Obama has done it. He has brought America down. It only took him just over four years. The Republicans could have stopped him. They didnt. How did the nihilistic left succeed in destroying America? Simple. They learned just a little of the capitalism they hate, and they drove your nation into outright bankruptcy. And here is what the GOP has to say about it: just about nothing. The once-mighty United States is now the most indebted nation on Earth. In round numbers, here are just some of the vital statistics as the patient dies: National debt: $17 trillion, or $50,000...
  • Heritage: Amnestied Illegals Will Get $9.4T in Benefits; Increase Debt $6.3T

    05/06/2013 7:52:45 PM PDT · by Olog-hai · 10 replies
    Cybercast News Service ^ | May 6, 2013 | Elizabeth Harrington
    Granting amnesty to illegal immigrants would cost $6.3 trillion, according to a new report by the Heritage Foundation. Not only would the federal deficit increase, but the cost of benefits and services to millions of newly minted citizens would reach nearly $10 trillion.
  • Advice from "beyond the echo chamber"

    02/06/2009 3:56:41 PM PST · by Cindy · 14 replies · 337+ views
    WHITEHOUSE.gov - blog ^ | Friday, February 6th, 2009 at 12:55 pm | n/a
    Note: The following text is a quote: http://www.whitehouse.gov/blog_post/beyond_the_echo_chamber/ Friday, February 6th, 2009 at 12:55 pm Advice from "beyond the echo chamber" We just learned the economy lost another 600,000 jobs last month. It's a staggering number, and it underscores just how deep this crisis is and, as the President pointed out this morning, its accelerating. That's why he created the Economic Recovery Advisory Board -- to solicit ideas from "beyond the echo chamber of Washington, DC." "Im not interested in groupthink, which is why the Board reflects a broad cross-section of experience, expertise, and ideology," he said. "Weve recruited...
  • Payments On Federal Debt To QUADRUPLE By 2023! Debt To Reach $20 Trillion

    05/01/2013 3:12:21 PM PDT · by whitedog57 · 6 replies
    Confounded Interest ^ | 05/01/2013 | Anthony B. Sanders
    Washington (AP) The Federal Reserve on Wednesday stood by its extraordinary efforts to stimulate the economy. And it signaled that it could increase or decrease the pace of bond purchases depending on how the job market and inflation perform. After concluding a two-day policy meeting, the Fed said in a statement that the job market has shown some improvement in recent months, on balance. But it also notes that unemployment remains high and government budget policies have begun to restrain economic growth. The Fed maintained its plan to keep short-term interest rates at record lows at least until unemployment...
  • What Will Happen When The Government Collapses?

    04/29/2013 9:11:55 AM PDT · by Perseverando · 109 replies
    The Western Center for Journalism ^ | Arpil 27, 2013 | Floyd Brown
    Yesterday, my colleague, Marty Biancuzzo, explained why America is on a path to inevitable economic and government collapse. After reading Martys piece, another colleague asked me: What will America look like after a government collapse? Its an important question, and I want to give a satisfactory answer. But I cant do that in one short column, so I plan to return to this topic several times over the next few weeks. I hope that when Im done, you will have a better understanding of where the country is headed. Now, consider our current situation Its clear that Barack Obama and...
  • The Economic Depression Is Deepening

    04/24/2013 7:18:36 AM PDT · by blam · 12 replies
    The Market Oracle ^ | 4-24-2013 | Bill Bonner
    The Economic Depression Is Deepening Economics / Great Depression IIApril 23, 2013 - 05:47 PM GMT By: Bill Bonner Gold seemed to be stabilizing at the end of last week. Commodities remained weak. Steel has fallen 31% this year. Brent crude is off 17% since early February. And copper is down 15%. Copper is the metal you need to make almost anything houses, cars, electronics. When it goes down, it generally means the world economy is getting soft.At the start of last week, the conventional analysis of the gold sell-off was that the central banks' efforts to revive global...
  • OMB: Obama Will Become First President to Spend $4T in One Year

    04/10/2013 8:56:37 AM PDT · by Sub-Driver · 21 replies
    OMB: Obama Will Become First President to Spend $4T in One Year April 10, 2013 In the historical tables it released along with President Barack Obama's fiscal 2014 budget proposal this morning, the White House Office of Management and Budget revealed that in fiscal 2016 it expects Obama to become the first president in the nation's history to preside over a federal government that spends more than $4 trillion in one year. The OMB's historical tables also reveal that the White House does not expect this administration to ever run an annual deficit as low as $458.5 billion, which was...
  • New Obama budget totals $3.77 trillion (More Tax Hikes)

    04/10/2013 7:30:23 AM PDT · by SeekAndFind · 19 replies
    Hotair ^ | 04/10/2013 | Ed Morrissey
    As the Senate prepares to produce its first budget since the FY2010 cycle four years ago, Barack Obama will finally submit his own budget proposal — two months late, of course. The last actual normal-order budget passed by Congress spent, according to the White House’s own figures, $3.456 trillion dollars on revenues of only $2.163 trillion. With even the President talking about fiscal discipline and deficit control, we must be seeing some cuts in this budget cycle, no?No: President Obama plans Wednesday to unveil a $3.77 trillion spending plan that proposes modest new investments in infrastructure and education, major new...
  • Who Really Owns the U.S. National Debt? (Final Edition for FY2012!)

    04/10/2013 6:39:42 AM PDT · by SeekAndFind · 2 replies
    The U.S. Treasury Department has revised its estimates of the foreign ownership through the end of Fiscal Year 2012, which means that we can now finalize our picture of just who the major holders of the 16.027 trillion dollars of the outstanding U.S. government debt issued through 30 September 2012 are: Overall, U.S. entities own 66% of all debt issued by the U.S. federal government. Ranking the major U.S. entities from high to low, we find that: U.S. individuals and institutions, which includes regular Americans, banks, insurance companies and other government entities, own 30.5% of the nation's debt. The...
  • Obamas Last Budget Offer To Boehner (Adds $7.3 Trillion in Debt And Gets Rid Of Sequester)

    04/07/2013 3:22:46 PM PDT · by whitedog57 · 11 replies
    Confounded Interest ^ | 04/07/2013 | Anthony B. Sanders
    The Obama Administration has posted their last budget offer to House Speaker John Boehner (R-OH). The Republicans on the Senate Budget Committee have a different take on the Presidents budget: Obamas budget turns off the sequester, adds stimulus extension, $50 billion in transportation spending and universal pre-K (better known as government baby sitting centers). And by getting rid of the sequester ($1 trillion), they propose cuts in discretionary spending of $100 billion only. In addition, Obamas budget plan, to be unveiled April 10th (the same day that North Korea is threatening to nuke us), would prohibit taxpayers from accumulating more...
  • Preparing For Inflationary Times

    03/30/2013 10:43:14 AM PDT · by blam · 25 replies
    TMO ^ | Jeff Clark
    Preparing For Inflationa​ry Times Economics / InflationMar 29, 2013 - 11:06 AM GMT By: Jeff Clark "All this money printing, massive debt, and reckless deficit spending – and we have 2% inflation? I'm beginning to believe that either the deflationists are right, or the Fed's interventions are working." – Anonymous Casey Research reader The CPI, in our view, does not accurately measure inflation, which accounts for some of the discrepancy our reader is pointing out. However, the proper definition of inflation is "an increase in the quantity of money," which we've had in spades. We've not experienced the concomitant increase...
  • Rep. Conyers: The Debt Is Not Endangering Us a Bit We Don't Think There's a Problem

    03/14/2013 6:27:56 PM PDT · by Olog-hai · 39 replies
    Cybercast News Service ^ | March 14, 2013 | Jon Street
    Rep. John Conyers (D-Mich.), the ranking member of the House Judiciary Committee, said on Thursday that the nations current debt of $16.7 trillion is not endangering the country, adding that some debt is not a bad idea and that he and other congressional Democrats dont think theres a problem. Conyers and other liberal Democrats spoke at a Capitol Hill press conference about their initiative to compel Congress to cancel the across-the-board budget cuts (sequester) of $1.2 trillion over 10 years, which actually are reductions in the rate of increase in federal spending and amount to $44 billion for this...
  • It's Time to Stock Up on Precious Metals, Guns, and Ammunition

    03/14/2013 6:53:41 AM PDT · by EXCH54FE · 94 replies
    American Thinker ^ | Mar. 14, 2013 | Neil Snyder
    If you are a regular reader of American Thinker, you already know that our nation's debt and deficit problems are unsustainable. We need to look no further than the European Union to understand the problems associated with welfare states run wild. The violence in Greece is a harbinger of things to come in the United States if we fail to take action to get our nation's fiscal house in order. It's as simple as 1, 2, 3. No nation can spend its way out of a debt and deficit problem. It is true, however, that a growing economy produces increases...
  • How Should Christians Respond to Government Growth and Spending?

    03/10/2013 11:41:23 AM PDT · by Kaslin · 23 replies
    Townhall.com ^ | March 10, 2013 | Jay W. Richards
    In his recent book, Fixing the Moral Deficit, Ron Sider argues that deficit spending by the federal government is one of the most important moral challenges that Americans have ever faced. I disagree with some of Siders proposed solutions, but hes right. Every year, the federal government spends well over a trillion dollars more than it takes in. As a result, it has racked up seventeen trillion dollars in debt, most of it in the last decade. In seven years at current rates, the U.S. will need almost a fifth of the GDP from the rest of the world just...