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Keyword: budgetdeficit

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  • States Are the Canary In the Fiscal Coal Mine

    03/23/2010 6:39:54 AM PDT · by SeekAndFind · 6 replies · 400+ views
    Real Clear Markets ^ | 03/23/2010 | Josh Barro
    <p>Last week, Moody's released guidance stating that the US and UK Aaa bond ratings are at risk. Debt levels are rising rapidly to levels where those ratings cannot be maintained, and avoiding that outcome will require "fiscal adjustments" -- read, spending cuts and/or tax increases -- that are likely to "test social cohesion."</p>
  • Congress Votes to Socialize Health Care in United States

    03/22/2010 1:44:50 AM PDT · by Cindy · 26 replies · 1,397+ views
    CNS ^ | Monday, March 22, 2010 | By Terence P. Jeffrey, Editor-in-Chief
    "Congress Votes to Socialize Health Care in United States" Monday, March 22, 2010 By Terence P. Jeffrey, Editor-in-Chief SNIPPET: "According to the CBO, by 2016, the cheapest family health care plan that Americans will be required to buy under the law will cost $12,000 per year. The average family plan will cost $15,200. A family of four making $88,201 per year—or more than 400 percent of the poverty level—will not receive any federal subsidy to purchase such a plan. They will pay taxes, however, to subsidize the health care purchases of people earning less than 400 percent of poverty. According...
  • Obama's Hostile Takeover

    03/11/2010 8:43:28 AM PST · by timesthattrymenssouls · 8 replies · 769+ views
    Constitutional Guardian ^ | 3/11/2010 | Nancy Tengler
    "Enlightened statesmen will not always be at the helm. " Federalist 10, James Madison In the late 1990's I managed a large portfolio for a German re-insurance company. I loved visiting my client in the quaint city of Cologne. Church bells, spires, street markets with handmade goods including colorful steins and wooden nutcrackers, baked goods that looked like works of art in shop windows. Though I was working I felt like I had been transported to a surreal fairyland. Except for one thing. The persistent double-digit unemployment. I asked my client about the cause of Germany's relentless unemployment. His reply?...
  • Obama Numbers on Economy Prove to be False

    03/08/2010 11:54:18 AM PST · by Welshman007 · 4 replies · 31+ views
    Conservative Examiner ^ | 3/8/2010 | Anthony G. Martin
    For those true believers out there who still accept whatever this Administration tells them, despite being caught in numerous lies, here is one to add to the list. Perhaps this will convince you that Barack Obama and his minions cannot be trusted. The Congressional Budget Office released figures that show that despite Obama's notion that his plan for America will reduce the national debt, the Obama agenda will actually add 9.7 trillion dollars to the debt over the next ten years, almost doubling the current debt-load of 12 trillion.
  • Obama avoids hard budget choices: A weak leader talks tough and passes the buck

    02/22/2010 7:42:23 PM PST · by Abakumov · 10 replies · 423+ views
    The Washington Times ^ | February 23, 2010 | Editorial
    President Obama said on Thursday, "The politics of dealing with chronic deficits is fraught with hard choices, and therefore, it's treacherous to officeholders here in Washington. As a consequence, nobody has been too eager to deal with it." He then handed the problem off to a commission, thus proving his point. Mr. Obama likes to use the expression "hard choices," but he has yet to make any when it comes to federal spending. After announcing his fiscal commission, he went to Las Vegas and announced a $1.5 billion housing assistance program, seeking to bolster the flagging fortunes of Senate Majority...
  • Budget by Executive Order?

    02/19/2010 11:21:54 AM PST · by Welshman007 · 3 replies · 280+ views
    YouTube ^ | 2/19/2010 | Anthony G. Martin
    This is The Liberty Sphere Report by Anthony G. Martin: Obama has created a bipartisan panel to deal with the budget deficit and national debt, which is the job of Congress, according to the Constitution. WARNING! Danger ahead.
  • Cutting spending in New Jersey: Garden State governor offers Obama an example of fiscal courage

    02/16/2010 8:08:39 PM PST · by Abakumov · 23 replies · 940+ views
    The Washington Times ^ | February 17, 2010 | Editorial
    On Feb. 2 in Nashua, N.H., Mr. Obama lectured the American people on fiscal responsibility. "When times are tough, you tighten your belts," he said. "You don't go buying a boat when you can barely pay your mortgage." However, his budget proposal is the most fiscally irresponsible in American history. It lavishes billions of dollars on unnecessary programs, pet projects and pork for cronies. There is no belt-tightening in his reckless budget; he does not believe in budget cuts. He's the guy who can't pay his mortgage but decides to buy a boat, a sports car and a home theater...
  • What’s Sustainable About This Budget? (nothing)

    02/14/2010 3:41:21 AM PST · by reaganaut1 · 4 replies · 336+ views
    New York Times ^ | February 14, 2010 | N. Gregory Mankiw
    ... The troubling feature of Mr. Obama’s budget is that it fails to return the federal government to manageable budget deficits, even as the wars wind down and the economy recovers from the recession. According to the administration’s own numbers, the budget deficit under the president’s proposed policies will never fall below 3.6 percent of G.D.P. By 2020, the end of the planning horizon, it will be 4.2 percent and rising. As a result, the government’s debts will grow faster than the economy. The administration projects that the debt-to-G.D.P. ratio will rise in each of the next 10 years. By...
  • US debt will keep growing even with recovery

    02/14/2010 3:32:49 AM PST · by reaganaut1 · 6 replies · 302+ views
    Associated Press ^ | February 14, 2010 | Tom Raum
    It's bad enough that Greece's debt problems have rattled global financial markets. In the world's largest economic and military power, there's a far more serious debt dilemma. For the U.S., the crushing weight of its debt threatens to overwhelm everything the federal government does, even in the short-term, best-case financial scenario — a full recovery and a return to prerecession employment levels. The government already has made so many promises to so many expanding "mandatory" programs. Just keeping these commitments, without major changes in taxing and spending, will lead to deficits that cannot be sustained. Take Social Security, Medicare and...
  • What is a Blink of an Eye, Astronomically?

    02/13/2010 4:21:07 AM PST · by mattstat · 6 replies · 409+ views
    n a January 15 Science news item, Yudhijit Bhattacharjee reported that the earliest galaxies began to form around 300 million years after the Big Bang. He said this was: Of course that is just a figure of speech, but I thought we should figure that figure of speech out. Just what is a “blink of an eye” astronomically? The best guess for the age of the universe is about 14 billion years, maybe a little less. There’s about 365 and a quarter days per year, accounting for leap years, and 24 hours to each day. Each hour has 60 minutes,...
  • When Deficits Become Dangerous

    02/12/2010 11:00:12 AM PST · by reaganaut1 · 15 replies · 572+ views
    Wall Street Journal ^ | February 11, 2010 | Michael J. Boskin
    President Barack Obama's 2011 budget lays out a stunningly expensive big-government spending agenda, mostly to be paid for years down the road. He proposes to increase capital gains, dividend, payroll, income and energy taxes. But the enormous deficits and endless accumulation of debt will eventually force growth-inhibiting income tax hikes, a national value-added tax similar to those in Europe, or severe inflation. On average, in the first three years of the 10-year budget plan, federal spending rises by 4.4% of GDP. That's more than during President Lyndon Johnson's Great Society and Vietnam War buildup and President Ronald Reagan's defense buildup...
  • Why cities aren't hitting panic button -- yet

    02/12/2010 8:07:31 AM PST · by SeekAndFind · 10 replies · 498+ views
    Fortune ^ | 02/12/2010 | Colin Barr
    Cities and other municipalities are in a world of budgetary hurt. Is a wave of bankruptcies on the way? The odds are against it, given the rules that restrict who can file for protection from creditors under Chapter 9 of the federal bankruptcy code. States, for instance, can't file, while in many cities, towns and other government bodies can seek bankruptcy only in limited circumstances. Yet with Greece's fiscal problems blaring from the headlines and governments across the United States bracing for another round of draconian cuts, municipal bond investors have been keeping an eye out for a rare event:...
  • Stimulus money running out in Los Angeles

    02/02/2010 11:53:13 AM PST · by wmposh · 10 replies · 603+ views
    ABC News Los Angeles ^ | Feb 1, 2010 | Leane Sutter
    LOS ANGELES (KABC) -- The city of Los Angeles is facing big budget problems, and now it seems jobs that were once exempt from looming layoffs may also be on the chopping block. A Los Angeles City Council committee ordered analysts Monday to consider slashing police and fire department jobs, and the cuts will not stop there. The L.A. City Council chambers were standing room only Monday as a budget and finance committee held a first hearing on layoffs and cutbacks in city services. It's grim.

    02/02/2010 1:17:25 AM PST · by TheFreedomPoster · 1 replies · 175+ views
    THE FREEDOM POST ^ | February 2, 2010 | Matthew Burke
    VIDEO: President Obama has recently announced that there will be a budget freeze on a significant portion of the next 3 years worth of budgets. This video walks through what that budget freeze looks like and how much money is actually saved by implementing this policy.
  • Obama's Budget Seeks $2 Trillion More in Spending and Deficits Than Last Year

    02/01/2010 9:07:15 PM PST · by myknowledge · 13 replies · 698+ views
    The Heritage Foundation ^ | February 1, 2010 | Brian M. Riedl
    Last year, President Obama swept into office on a promise to confront tough choices--and then released a budget proposing the largest debt-and-spending spree in American history. With Washington having committed itself to more government than its taxpayers could realistically afford, basic fiscal responsibility suggests that the President scale back his expensive proposals. Instead, this year's budget is even more fiscally irresponsible. Over the 10 years in which both budgets overlap (FY 2010-2019), this year's budget would spend an additional $1.7 trillion and run up an additional $2 trillion in budget deficits (see Table 1).[1] In fact, this year's proposal shows...
  • Obama Sends 2011 Budget to Congress

    02/01/2010 5:37:43 PM PST · by myknowledge · 21 replies · 1,065+ views
    VOA News ^ | February 1, 2010 | Paula Wolfson
    U.S. President Barack Obama has sent a $3.8 trillion budget request to Congress for the fiscal year that begins on October first. It is the first step in what is expected to be a long, contentious budget process. President Obama is walking a fine line in his 2011 budget. He is seeking $100 billion to tackle unemployment, while moving to trim the federal budget deficit. "It is time to hold Washington to the same standard families and businesses hold themselves. It is time to save what we can and what we must and live within our means once again," he...
  • After Obama Promises to Trim Deficits 2 Days Ago- Proposes Largest Spending Bill in History Today

    02/01/2010 8:57:33 AM PST · by opentalk · 14 replies · 689+ views
    Gateway Pundit ^ | February 1, 2010, | Jim Hoft
    You Lie. Two days ago Barack Obama told the American public that trimming the budget deficit was as important as creating jobs. This was after he tripled the budget deficit in here But that was Saturday… Today Barack Obama proposed a record budget that will increase the US budget deficit by at least $100 billion dollars. Obama’s $3.8 trillion budget will cause the deficit to skyrocket to a record $1.6 trillion. President Barack Obama will propose on Monday a $3.8 trillion budget for fiscal 2011 that projects the deficit will shoot up to a record $1.6 trillion this year,...
  • Obama's Budget Is 'Fiscal Insanity': Sen. Gregg (Implies Obama is Communist)

    02/01/2010 8:28:09 AM PST · by kristinn · 142 replies · 6,826+ views
    CNBC ^ | Monday, February 1, 2010
    President Obama's economic policies are promoting 'fiscal insanity' that is leading the nation down the path of insolvency, Sen. Judd Gregg (R)-NH told CNBC Monday. "We're going to get ourselves into deep, deep trouble here if we continue to pursue this course of fiscal insanity, in my opinion," said Gregg, a ranking member of the Senate Budget Committee, said in a live interview. "It's not just this year, which is the issue of stimulus," Gregg added. "It's the year after, it's the year after that and the year after, eight years out the president is projecting a trillion dollar defecit,...
  • Deficit to Hit All-Time High (Tax Revenues Plummet, New FY 2010 Deficit of $1.6 Trillion)

    01/31/2010 5:29:42 PM PST · by kristinn · 99 replies · 3,549+ views
    The Wall Street Journal ^ | Sunday, January 31, 2010 | Jonathan Weisman
    President Barack Obama will propose on Monday a $3.8 trillion budget for fiscal 2011 that projects the deficit will shoot up to a record $1.6 trillion this year, but would push the red ink down to about $700 billion, or 4% of the gross domestic product, by 2013, according to congressional aides. The deficit for the current fiscal year, which ends on Sept. 30, would eclipse last year's $1.4 trillion deficit, in part due to new spending on a proposed jobs package. The president also wants $25 billion for cash-strapped state governments, mainly to offset their funding of the Medicaid...
  • A 'Bleak' Budget but Slightly Better (CBO Estimates Deficit of $1.35T, better than expected $1.4T)

    01/27/2010 8:39:29 AM PST · by SeekAndFind · 1 replies · 201+ views
    Wall Street Journal ^ | 01/27/2010 | JOhn Mckinnon
    The Congressional Budget Office on Tuesday called the U.S. budget outlook "bleak," in a forecast that hurts the chances for extending Bush-era tax cuts and raises pressure for fiscal belt-tightening. In its annual report, the nonpartisan CBO pegged the 2010 U.S. budget deficit at $1.35 trillion, a slight decrease from the $1.4 trillion 2009 deficit that set a post-World War II record. The report also contained grim projections for Americans looking for a brighter employment picture. The CBO predicts that unemployment, currently 10%, won't return to 5% until the middle of the decade. The report projects slightly lower growth in...