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Keyword: deficits

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  • Obama's Fiscal Rollercoaster Won't Excite Economy

    11/07/2011 7:14:13 AM PST · by Slyscribe
    Investor's Business Daily ^ | 11/7/2011 | Jed Graham
    Democrats and Republicans may never agree on the multiplier from government stimulus, but that debate is increasingly about the past. What matters now is that the multiplier — whatever it is — is diminishing as policymakers try to erect something of a fiscal roller-coaster. Even deeper payroll tax cuts proposed by President Obama for 2012 would, at least on paper, be followed by an abrupt reversal and a ramping up of tax increases on higher earners. The policies spelled out by the White House would mean a jarring $380 billion tax hike in fiscal 2014 compared to 2012, equal to...
  • Editorial: Ron Paul's $1 trillion in cuts

    10/28/2011 2:09:20 PM PDT · by landsbaum · 4 replies
    The Orange County Register ^ | 10-28-2011 | Orange County Register editorial boarad
    The odds of Ron Paul being nominated by Republicans and defeating President Barack Obama are, in the words of one news service, "beyond remote." Perhaps. But Mr. Paul's "Plan to Restore America" is breathtaking, nevertheless. Candidates whose success may be less remote would do well to adopt this plan in large measure...
  • Where Is The Urgency? (Vanity)

    10/20/2011 4:02:57 PM PDT · by CXin99 · 1 replies
    Napa Whine Country ^ | October 17, 2011 | Tom Thurlow
    Right about the date of Republican debate last week it started to rain pretty heavily here in Napa County. Rains like this are rare for early October. A rainfall right before the grapes are picked can form a fungus on the grapes called Botrytis, which can distort the fermentation of the grapes when the winemakers try to ferment the grape juice into wine. Within a few hours, grapes in Napa and Sonoma Counties, at least the most vulnerable chardonnay and sauvignon blanc grapes, were being picked before the fungus could set in. Traffic here was pretty bad, with those flat-bed...
  • STEVE WYNN Goes On-Rant About Occupy Wall Street,Obama, Deficits..Anger At Government

    10/19/2011 5:26:37 PM PDT · by STARWISE · 27 replies
    Business Insider ^ | 10-19-11 | Joe Weisenthal
    COMPLETE TITLE: STEVE WYNN Goes On Big Rant About Occupy Wall Street, Obama, Deficits, And Anger At The Government ### Classic. On the conference call for Wynn Resorts, CEO Steve Wynn went on a big rant on Occupy Wall Street, Obama, and deficits. Here are our notes in raw form. It's all mostly paraphrased. In a nutshell, he says: Deficits are killing us, our dollars are worthless, and the Democrats are bankrupting the country and vilifying anyone who's successful. So naturally, people are protesting. *snip* You're seeing it taken to the next level in Greece. People are trying to break...
  • US US gov't runs $1.3 trillion budget deficit in 2011 ( 3rd year of $1 trillion plus imbalances)

    10/14/2011 12:09:58 PM PDT · by SeekAndFind · 12 replies
    Associated Press Via Yahoo News ^ | 10/14/2011 | Martin Crutsinger
    WASHINGTON (AP) -- The government ran a $1.3 trillion for the budget year that ended last month, the third straight year it has operated more than $1 trillion in the red. The 2011 budget deficit was the second highest on record. It's slightly ahead of the previous budget year's $1.29 trillion deficit but below the $1.41 trillion imbalance record in 2009. A decade ago, the government was running surpluses and trillion-dollar deficits seemed unimaginable. But those deficits now loom over tense negotiations in Washington. Lawmakers are under pressure to agree by Thanksgiving on where they can cut $1.2 trillion over...
  • California, the Example of What the Nation Could Become

    10/11/2011 10:42:15 AM PDT · by Tolerance Sucks Rocks · 31 replies
    California Political Review ^ | October 10, 2011 | Congressman Tom McClintock
    I want to welcome this groundbreaking scientific expedition to the savage lands of the Left Coast. You are here in California to answer an important theoretical question and now you have your answer. Yes, this is what Barack Obama’s second term would look like. Study it. Fear it. And then go home and make sure that it never happens to the rest of the country. Of course, in spite of all of its problems, California is still one of the best places in the country to build a successful small business. All you have to do is start with a...
  • Biden Says Obama, Not Bush, Should Get Credit for Economy

    10/01/2011 10:35:32 AM PDT · by John Semmens · 26 replies
    Insisting that “things are much better than most people think,” Vice-President Joe Biden said he is “comfortable with the idea of phasing former President George Bush out of the conversation when it comes to the economy.” “A narrow focus on unemployment and deficits misses the overarching improvements we have achieved since Barack Obama took office,” Biden cautioned. “Look, if you’re among the 9% who are unemployed it’s a bummer. But if you’re one of the 91% who has a job your commute to work is easier since fewer people will be driving to jobs on the streets you use. So,...
  • Inflation and Debt (huge deficits may cause hyperinflation)

    09/29/2011 11:19:01 AM PDT · by reaganaut1 · 5 replies
    National Affairs ^ | Fall 2011 | John Cochrane
    For several years, a heated debate has raged among economists and policymakers about whether we face a serious risk of inflation. That debate has focused largely on the Federal Reserve — especially on whether the Fed has been too aggressive in increasing the money supply, whether it has kept interest rates too low, and whether it can be relied on to reverse course if signs of inflation emerge. But these questions miss a grave danger. As a result of the federal government's enormous debt and deficits, substantial inflation could break out in America in the next few years. If people...
  • Spending Cuts, Not Tax Hikes, Best for Deficit: NABE

    08/22/2011 6:51:56 AM PDT · by MNJohnnie · 12 replies
    CNBC ^ | 08-22-11 | CNBC
    The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts. The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and tax increases. The remaining 7 percent believe it should be done only or mostly through tax increases. As for how to reduce the deficit, nearly 40 percent said the best way would be to contain Medicare and Medicaid costs. Nearly a quarter recommended overhauling the tax system...
  • The Economic Delusions of the Political Class(Spending=growth=deficit reduction)

    08/17/2011 7:35:53 PM PDT · by sickoflibs · 7 replies
    Mises Institute ^ | August 16, 2011 | William L. Anderson
    The New York Times recently ran an "analysis" article entitled, "Debt Problem's Sure Cure: Economic Growth." This is something that falls into the category of "Gee, why didn't I think of that?" All you need is growth, so let's go get us some growth! That will take care of everything! Journalist Catherine Rampell asserts, There is, in theory, a happy solution to our debt troubles. It's called economic growth. No need to raise taxes or cut programs. Just get the economy growing the way it used to. Rampell admits that this is a dicey proposition. She holds to the belief...
  • Bush? Obama? Congress Spends the Money...

    08/15/2011 1:59:35 PM PDT · by pgyanke · 11 replies
    pgyanke | 8/15/2011 | pgyanke
    I'm really getting tired of hearing about Bush's spending compared to Obama's (don't get me wrong, like most conservatives, I didn't approve of Bush's spending either). I'm also tired of hearing about Clinton's surplus (you know, the surplus where we continued to fall deeper in debt...). Congress (specifically, the House) has the greatest authority over the purse. Want a better picture of federal financial management since Reagan? Here it is... Notice that both Reagan and GHW Bush had to deal with Democratic Congresses and we had deficit spending. Clinton was prevented from implementing "Hillarycare" early in his presidency and the...
  • Dollar to drop on S&P move; safe-haven demand seen

    08/07/2011 3:57:34 AM PDT · by markomalley · 6 replies
    Reuters/Yahoo ^ | 8/7/11 | Saikat Chatterjee
    The U.S. dollar may weaken and Treasury yields rise when Asian markets reopen on Monday, though any selling in response to ratings agency S&P's downgrade of the United States is likely to be tempered by the escalating crisis in the euro zone. The S&P cut in the U.S. long-term credit rating by a notch to AA-plus is an unprecedented blow and results from concerns about the nation's budget deficits and climbing debt burden. It called the outlook "negative," signaling another downgrade is possible in the next 12 to 18 months. "The initial reaction will be a high degree of uncertainty...
  • The Debt Deal's Three Biggest Winners and Losers

    08/02/2011 11:11:19 AM PDT · by JohnRLott · 30 replies
    Fox News ^ | August 2, 2011 | John R. Lott Jr.
    With a debt ceiling agreement finally in place and the Senate on track to approve it today congratulations are being handed out all around.  Armageddon and catastrophe has supposedly been averted. And politicians are rushing to put the best face on the deal.  Unfortunately, the new agreement does not accomplish as much as many had hoped, or as much as it should have, in terms of curbing spending and continued deficits. This explains why stock markets continued to fall despite the supposedly "good" news. The reason is because, once again, politicians are continuing to push the problem to the future. ...
  • Paul Krugman: The President Surrenders

    07/31/2011 9:25:53 PM PDT · by 2ndDivisionVet · 96 replies
    The New York Times ^ | July 31, 2011 | Paul Krugman
    A deal to raise the federal debt ceiling is in the works. If it goes through, many commentators will declare that disaster was avoided. But they will be wrong. For the deal itself, given the available information, is a disaster, and not just for President Obama and his party. It will damage an already depressed economy; it will probably make America’s long-run deficit problem worse, not better; and most important, by demonstrating that raw extortion works and carries no political cost, it will take America a long way down the road to banana-republic status. Start with the economics. We currently...
  • C-Town Supermarket, Single Mom's & For-Profit, Online Universities

    07/31/2011 10:12:08 AM PDT · by UnBubba · 18 replies
    Vanity | 7-31-11 | Self
    Just another day in Paradise.
  • The painful price of deficit hysteria (The Left is saddened)

    07/31/2011 9:43:24 AM PDT · by 2ndDivisionVet · 7 replies
    Salaon's War Room ^ | July 28, 2011 | Professor Julian E. Zelizer, Princeton University
    For decades, the right has used debt fears to attack the social safety net -- while Democrats have played along. Regardless of the outcome of the debt ceiling debate, conservatives have already scored a major victory over liberalism. Even if President Obama emerges from the struggle in stronger political shape than the GOP, the fiscalization of American politics -- meaning the focus of debate on deficits and debt -- constitutes a powerful blow to liberal Democrats who once hoped that President Obama's election would herald a new era for their cause. Liberals were wrong. Conservatives, who have a mediocre field...

    07/28/2011 2:16:08 AM PDT · by AmericanInTokyo · 14 replies
    CNN International ^ | 28 July 2011 | AmericanInTokyo
    Those Yanks living overseas or posted on assignment/traveling will more than likely have to put up with CNN International, which is unfathomably a couple of magnitudes worse than domestic CNN.
  • National Debt Politics : How Obama sees the voter as stupid

    07/25/2011 7:22:23 PM PDT · by sickoflibs · 24 replies
    sickoflibs rant | July 25, 2011 | sickoflibs
    First let’s cut through the ‘big budget deal’ Obama smoke screen. Obama’s original demand to Republicans months ago was a debt limit increase that is big enough (~ 3 trillion $) to get him through his presidential election, with NO budget cuts. And that is his only demand still: a huge debt increase that is clean of budget cuts. So his 'big deal debt/budget negotiations were a shame and the trillions in budget cuts he claimed he offered never existed because his own congressional leaders told them they were DOA which is why he killed the ‘big deal’ last week....
  • Hoyer: Balanced Budget Amendment Would ‘Make it Virtually Impossible to Raise’ Taxes

    07/20/2011 11:12:32 AM PDT · by Sub-Driver · 56 replies
    Hoyer: Balanced Budget Amendment Would ‘Make it Virtually Impossible to Raise’ Taxes Wednesday, July 20, 2011 By Terence P. Jeffrey ( - House Minority Whip Steny Hoyer (D.-Md.) said on the House floor last night that if the balanced budget amendment Republicans are supporting is ratified and included in the Constitution it would make it “virtually impossible” to raise taxes. “In order to pay our bills, Republicans would require us to pass a Constitutional amendment that would permanently enshrine their partisan budget priorities in law and make it virtually impossible to raise revenue,” Hoyer said. The push for a balanced...
  • Role reversal: Latin America taunts US on debt woes

    07/20/2011 1:37:17 PM PDT · by george76 · 9 replies
    Reuters ^ | Jul 20, 2011 | Brian Winter
    After three decades spent battling their own debt crises and getting constantly lectured about them by Uncle Sam, many Latin Americans are watching the countdown to a possible default in Washington with a mix of schadenfraude and fear of what a collapse might mean for them. For everybody from presidents on down to street vendors, seeing U.S. politicians argue over where to make painful budget cuts has also been a reminder that those days are over in Latin America. For now, at least, as most of the region enjoys an era of economic prosperity and comparatively tiny deficits.