Keyword: deficitspending

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  • Penzeys Shows Me its True Colors

    03/04/2015 5:46:31 AM PST · by JayGalt · 12 replies
    email | Wed, Mar 4, 2015 | Bill Penzey
    The Pi Day of the century, 3.14/15 is only a little over a week away. For a time now Pi Day has been all about fun and of course pie, but with the way in recent years, science and even reality itself have come more and more under attack, I’m thinking maybe this year it’s time for Pi Day to emerge as something more than just fun. For so much of our history, the people of our country and the world have benefited greatly from the science-based reality that has shaped America’s future. Science may be based on numbers, but...
  • The Incurable Disease -- Government Spending

    11/02/2014 9:03:10 PM PST · by Abakumov · 7 replies
    Radix News ^ | November 3, 2014 | Ben Carson
    I have had a fulfilling career as a pediatric neurosurgeon, which unfortunately included numerous instances where worst-case scenarios played out in the operating room. Good surgeons plan ahead for these possible events so that bad outcomes are minimized. But of course, few treatment plans will succeed if the doctor continually fails to make a proper diagnosis before surgery begins. When I look at our nation’s massive federal debt, it is clear that Washington has chronically misdiagnosed the situation, which has resulted in a seemingly never-ending cycle of borrowing and spending. Much like a life-threatening disease, if the underlying cause is...
  • I Hate When That Happens...

    10/09/2013 5:58:16 AM PDT · by SatinDoll · 6 replies
    The Market-ticker ^ | October 9, 2013 | Karl Denninger
    You know how it is, you're going along with the lies that are told every day about "recovery" and "economic conditions are kinda "OK" and "we're doing all right" and then the mainstream media and "economists" like Goldman's Alec Phillips step on their ***** and tell the truth by accident. Economists at Goldman Sachs Group Inc., IHS Inc. (IHS) and BNP Paribas SA said they expect the Treasury to husband the tax money it collects to make sure it can meet interest and principal payments on the nation’s debt. Other obligations, from salaries of government workers to payments to defense...
  • Sequester: Not Even a Cut

    03/06/2013 4:21:14 AM PST · by Kaslin · 7 replies ^ | March 6, 2013 | John Stossel
    If you're reading this, you've survived the "sequester" cuts! That may surprise you, since President Obama likened the sequester to taking a "meat cleaver" to government, causing FBI agents to be furloughed, prosecutors to let criminals escape and medical research to grind to a halt! The media hyped it, too. The NBC Nightly News said, "The sequester could cripple air travel, force firefighter layoffs -- even kick preschoolers out of child care!" The truth is that the terrifying sequester cuts weren't even cuts. They were merely a small reduction in government's planned increase in spending. A very small reduction. After...
  • The Ugly Reality On The Budget, Deficits And Debt Ceiling

    01/06/2013 10:34:02 AM PST · by SatinDoll · 19 replies
    The Market Ticker ^ | January 6, 2013 | Karl Deninger
    As you folks all know I've been pounding the table for years about the fact that if we're serious about addressing what's wrong with our budget we must break the medical monopolies. Indeed, there's an entire sub-category of Tickers dedicated to Health Reform, which I started writing on when the entire Obama mess began and the discussion took off in earnest. But lately I've been asked to look once again at exactly what sort of realistic budget cuts we could make, especially now that the "fiscal cliff" game has been "punted." Let's remember something here folks -- last calendar year's...
  • Insanity: Spending Our Way Out of Debt

    01/02/2013 11:02:57 AM PST · by SaveOurRepublicFromTyranny · 3 replies
    TPNN - TEA PARTY NEWS NETWORK ^ | January 2, 2013 | Jennifer Burke
    Congress continues to show that they view us as serfs and view your hard earned money as automatically belonging to them first… should just be happy that they allow you to keep some...
  • Our debt isn't the problem (Why worry about balancing the federal budget at all?)

    01/01/2013 4:43:34 PM PST · by gunsequalfreedom · 22 replies
    NewEconPerspectives ^ | January 1, 2013 | Stephanie Kelton
    Look, up in the sky! It’s a “fiscal cliff.” It’s a slope. It’s an obstacle course. The truth is, it doesn’t really matter what we call it. It only matters what it is: a lamebrained package of economic depressants bearing down on a lame-duck Congress. This hastily concocted mix of across-the-board spending cuts and tax increases for all was supposed to force Congress to get serious about dealing with our nation’s debt and deficit. The question everyone’s asking is this: On whose backs should we balance the federal budget? One side wants higher taxes; the other wants spending cuts. And...
  • The Madness of Keynesian Economics

    12/24/2012 7:50:37 AM PST · by Moseley · 14 replies
    American Thinker ^ | December 24, 2012 | Jonathon Moseley
    President Barack Obama demands more stimulus spending to avoid the "fiscal cliff." Obama increased the national debt $6 trillion to $16 trillion. Yet the Democrats' 'cure for what ails ya' is even more spending. Obama demands around $75 billion in new spending to stimulate the economy in 2013. "Keynesian Economics" is the insane belief that the economy can be stimulated by government spending. It provides the excuse to depart from common sense that allows politicians to ignore the alarm bells. It is ludicrous mainly because our government doesn't have any money to spend. If the government had a surplus saved...
  • Oh My: McConnell Laughed Out Loud When Geithner Discussed Obama’s Plan

    11/30/2012 2:54:55 AM PST · by Kaslin · 24 replies ^ | November 29, 2012 | Daniel Doherty
    Negotiations can’t be going too well if the Senate Minority leader is openly scoffing at President Obama’s “bipartisan” plan to solve the looming “fiscal cliff” crisis. Yikes: Mitch McConnell, the Senate Republican leader, says he “burst into laughter” Thursday when Treasury Secretary Tim Geithner outlined the administration proposal for averting the fiscal cliff. He wasn’t trying to embarrass Geithner, McConnell says, only responding candidly to his one-sided plan, explicit on tax increases, vague on spending cuts. Geithner’s visit to his office left McConnell discouraged about reaching a “balanced” deal on tax hikes and spending reductions designed to prevent a shock...
  • If Obama wins he will nationalize your 401K

    09/07/2012 11:06:25 AM PDT · by Pietro · 84 replies
    Vanity | 9/7/2012 | Pietro
    I beleive that if Obama wins this election he will move to nationalize our 401Ks and every other pension plan in the country. Why? Consider: Even after raising taxes on the "rich" he'll be no nearer to reducing the deficit; and then Obamacare kicks in. His big idea boys will look around and notice the trillions locked up in pensions and 401Ks. They'll figure its all the government's money anyway and so they'll grab it. They won't be able to go through the legislature so they'll need to use one of the Cabinet dept's to make the grab, and they'll...
  • Labor Dept. Attempts to Stop Layoffs by Giving $100 Million to States to Subsidize Payrolls

    08/15/2012 6:29:00 PM PDT · by bt_dooftlook · 20 replies ^ | 08/15/2012 | Penny Starr
    The Labor Department announced on Monday that it will be awarding almost $100 million in grant funding to states to prevent layoffs by allowing businesses to pay employees as part-time workers and the federal government will pick up the tab for the cost of a full-time paycheck. The “work-sharing” program was passed as part of a Republican-led bill in the House, H.R. 3630, and Senate Amendment 1465 to extend the payroll tax deduction and unemployment benefits. In February 2012, President Barack Obama signed the bill into law, which included the $100 million in funding. "Establishing or expanding work-sharing programs nationwide...
  • Name The Bubble (Guessing Contest)

    02/27/2012 11:29:52 AM PST · by RightGeek · 14 replies
    Zero Hedge ^ | 2/27/2012 | Tyler Durden
    As the title suggests, please name the latest bubble: (see picture - answer below)
  • Debt? What’s the big deal. Do you have kids?

    01/18/2012 1:14:57 PM PST · by Mark Landsbaum · 4 replies
    Orange Punch Orange County Register blog ^ | 1-18-2012 | Mark Landsbaum
    Sometimes it helps to offer an analogy to show how utterly out of their minds they are in Washington when it comes to financial matters. We offer for your consideration, this short video. The names have been changed to protect the politicians.
  • Chart showing History of U.S. Surplus or Deficit by Year since 1890

    08/13/2011 7:48:31 AM PDT · by Rebam98 · 50 replies ^ | 8/12/11 | Amber Pawlik
    This is your government. This is your government on deficit spending. Any questions?
  • The Addiction of Deficit Spending

    05/25/2011 6:46:44 AM PDT · by jmaroneps37 · 7 replies · 1+ views ^ | May 25, 2011 | Basil Irwin, staff writer
    Almost any knowledgeable person with a lick of common sense knows government can’t create jobs. If it could, then a private-sector economy wouldn’t be needed, you know, like in those dynamos of economic propensity, communism and socialism. Thus, Obamanomic “stimulus” has amounted to nothing more than “creating” jobs that are the modern-day equivalent of hole-digging/hole-filling operations. That’s because, by definition, jobs “created” by government “stimulus” are jobs the private industry didn’t/wouldn’t/couldn’t create because such jobs would not have been productive, wealth-creating jobs. And when the government stimulus stops as it invariably must, the government “created” jobs will cease to exist...

    03/15/2011 10:26:59 AM PDT · by tutstar · 42 replies
    US Congress ^ | 3/15/11 | misc
    PolitiFact, FactCheck, and WaPo All Confirm: The $105 Billion Obamacare Slush Fund Exists SLY to put it nicely for the 3 jokers to hide teh funding in the bill. Why on earth would the House vote to repeal ZERO-care but vote to fund the monstrosity? If the dems had done the budget back in the fall there wouldn't be the possibility of government shutdown in the first place. They didn't want the budget to affect the Nov election and they don't want to commit to it now. It was supposedly to their advantage so that they can say the "Republicans...
  • JOHN STOSSEL: I Can Balance the Budget

    02/03/2011 2:46:26 PM PST · by smokingfrog · 56 replies ^ | 3 Feb 2010 | John Stossel
    The Congressional Budget Office says the current year's budget deficit will be a record $1.5 trillion. It also says that over the next decade we're on track for annual deficits of "only" $768 billion. I suspect the CBO has hired Rosy Scenario to do the bookkeeping, but let's take that number at face value. I'm now going to balance the budget, with the help of some recent guests on my TV show. I'll begin with things I'm most eager to cut. Let's privatize air traffic control. Canada did it, and it works better. Then privatize Amtrak. Get rid of all...
  • Jobs threatened as end nears for stimulus

    12/13/2010 2:15:09 AM PST · by Cincinatus' Wife · 15 replies
    Houston Chronicle ^ | December 13, 2010 | Stewart M. Powell
    ..."That's the nature of a short-term stimulus," says Thomas Mann, a scholar at the Brookings Institution in Washington, D.C., and former executive director of the American Political Science Association. "Many jobs initially created or temporarily sustained with federal support will disappear if the private economy does not revive and state government (tax) receipts do not increase." Situation 'dire' The end of $787 billion in national emergency spending is pushing Houston-area recipients to hasten the search for new ways to pay for the jobs - or face politically embarrassing layoffs. The "few jobs (the stimulus) did create have been temporary and...
  • Obama to announce $50 bln infrastructure job plan (Failed "Stimulus", The Sequel)

    09/06/2010 6:07:51 AM PDT · by tobyhill · 54 replies · 1+ views
    reuters ^ | 9/6/2010 | STAFF
    U.S. President Barack Obama will announce on Monday a six-year infrastructure revamp plan with an initial investment of $50 billion to jump-start job creation, a white house official said. Obama is committed to working with the U.S. Congress to fully fund the program, which also includes a proposed infrastructure bank to leverage private capital, the official said. Obama is to make the announcement in Milwaukee, where he will make a speech to a labor rally on Monday, the Labor Day holiday that marks the informal start of the election campaign season. With a jobless rate near 10 percent, Democrats are...
  • Answering the Wrong Question

    08/12/2010 2:24:18 PM PDT · by timesthattrymenssouls · 3 replies · 1+ views
    Constitutional Guardian ^ | 8/12/2010 | Nancy Tengler
    The Democrats and their profligate spending indicate clearly that they are motivated by the question: How much money can we spend? Not how many jobs can we create. And their spending, rather than slowing, is gaining momentum like a snowball rolling down a hill. Faster, more furious, unstoppable. Trillion after trillion after billions zoom by to the point of eyes glazing, minds numbing. A giant blur of dollar signs. Expansive, exploding, multiplying like a deadly virus, unreal in its magnitude and potential for calamity. Yet despite the spending, the unemployed remain so, in fact their numbers have ballooned. The job...
  • Does Anyone Listen to Paul Krugman Anymore? Let's Hope Not!

    07/07/2010 7:30:28 AM PDT · by timesthattrymenssouls · 8 replies
    Constitutional Guardian ^ | July 7, 2010 | Nancy Tengler
    In a July 6th entry to his blog entitled, The Conscience of a Liberal, Paul Krugman cites Lincoln's statement to General McClellan that if McClellan wasn't going to use the army to engage in battle against the South, Lincoln would like to "borrow it for a while," as a springboard for his argument that the government must continue to stimulate the economy even if it means borrowing the money. (For those who have lost their way in the blizzard of Obama spending, we are referring here to more of the same $787B Stimulus Bill--recalculated by the CBO to actually cost...
  • Role Reversal: GOP Council Members Vote for Deficit Spending (RINO Watch)

    06/22/2010 10:38:40 AM PDT · by gunsequalfreedom · 4 replies
    California City News Service ^ | June 22, 2010 | Mike Madrid
    Role Reversal: GOP Council Members Vote for Deficit Spending To vote or not to vote for deficit spending over a balanced budget, that was the question facing the Desert Hot Springs city council and in a reversal of traditional roles, it was the council’s two Republican members that opted to put the city in the red rather than taking more time to come up with a balanced budget, which is the option that the council’s three Democrats voted to support. A $13.9 million budget was presented at the council’s recent meeting, but since it contained a $500,000 shortfall, Democrats rejected...
  • Spain: A Political Risk Analysis

    06/19/2010 5:51:00 PM PDT · by fightinJAG · 1 replies · 395+ views
    Brussels Journal ^ | June 11,2 010 | Soeren Kern
    Spain is in the throes of the worst economic crisis in its recent history. Reeling from the collapse of a debt-driven construction boom, Spain entered recession in the second quarter of 2008 and posted six consecutive quarters of negative growth. Although the economy grew by 0.1 percent during the first quarter of 2010, Spain’s growth prospects are poor and any pick-up could be short lived. Spanish GDP fell 3.6 percent in 2009, and a package of harsh austerity measures announced since then will undermine any economic recovery during the foreseeable future. The International Monetary Fund (IMF) says there will be...
  • Correction: Obamics Part 2--This Isn't Monopoly Money or a Theoretical Exercise, It's Sheer Lunacy

    02/04/2010 6:36:21 AM PST · by timesthattrymenssouls · 1 replies · 140+ views
    Constitutional Guardian ^ | 2/4/2010 | Nancy Tengler
    "Money is...that which sustains its (government) life and motion" Federalist 30, Alexander Hamilton My undergraduate degree is in Psychology. One of the first principles we study is: projection--the attribution of one's own ideas, feelings and beliefs onto others. Projection is dangerous in many human interactions to be sure, but it is especially dangerous in elections. As voters, we make certain assumptions about our leaders and their conduct. We expect them to tell the truth, not to steal (especially from us) and to work hard. Very hard. At least as hard as we do each day rushing to work, caring for...
  • Obamics Part 2--This Isn't Monopoly Money or a Theoretical Exercise, It's Sheer LUncancy

    02/04/2010 6:33:37 AM PST · by timesthattrymenssouls · 116+ views
    Constitutional Guardian ^ | 2/4/2010 | Nancy Tengler
    "Money is...that which sustains its (government) life and motion" Federalist 30, Alexander Hamilton My undergraduate degree is in Psychology. One of the first principles we study is: projection--the attribution of one's own ideas, feelings and beliefs onto others. Projection is dangerous in many human interactions to be sure, but it is especially dangerous in elections. As voters, we make certain assumptions about our leaders and their conduct. We expect them to tell the truth, not to steal (especially from us) and to work hard. Very hard. At least as hard as we do each day rushing to work, caring for...
  • Obamics: Gladly Pay You Tuesday for a Hamburger Today

    02/02/2010 6:06:27 AM PST · by timesthattrymenssouls · 171+ views
    Constitutional Guardian ^ | 2/2/2010 | Nancy Tengler
    In the Popeye Cartoon, Wellington Wimpy's oft repeated phrase: "I'll gladly pay you on Tuesday for a hamburger today" was ludicrous even to the five and six year olds watching the show. Children understand the morality lacking in Wimpy's request. They know that eating a hamburger you can't pay for until tomorrow is wrong. They know it intuitively. The request is laughable. And laugh they did. Popeye is a cartoon after all. All the more tragic as we watch Wimpy Economics (aka Obamics) being played out before our very eyes. With our very own money. Would that Obama had studied...
  • Government is Obliged to Control Itself

    01/02/2010 6:50:22 AM PST · by timesthattrymenssouls · 1 replies · 376+ views
    Constitutional Guardian ^ | 1/2/2010 | Nancy Tengler
    n Federalist 51, James Madison writes about the checks and balances provided by the Constitution. It is in this paper he penned these famous words: "...But what is government itself, but the greatest of all reflections on human nature. If men were angels, no government would be necessary. If angels were to govern men, neither external or internal controls on government would be necessary." And, of course, we know that men (read: our elected officials and bureaucrats) are not angels. Yet somehow our respect for the government our Founders gave us has blinded us to the reality that government is...
  • The Bailout Goes Nuclear (What now it's ok to use Nueclear power!)

    12/21/2009 1:51:44 PM PST · by FromLori · 33 replies · 985+ views
    Mother Jones ^ | 12/21/09 | Mariah Blake
    Unistar Nuclear Energy, which in 2007 became the first company in nearly 30 years to apply to build a new reactor in the US, bills itself as "the business model for a new generation of nuclear energy facilities." If that's so, taxpayers should be mighty concerned. In addition to its proposed flagship plant in the tiny Chesapeake Bay town of Lusby, Maryland, UniStar plans to build three more reactors in Missouri, New York, and Pennsylvania. But while UniStar estimates that these projects will cost up to $38 billion, the company, a joint venture between a French nuclear firm and US-based...
  • KY-Sen. 2010: (Rand) Paul explains his platform ("government created the entire problem")

    11/09/2009 12:28:45 PM PST · by rabscuttle385 · 14 replies · 1,562+ views
    The Times-Tribune, Corbin, Ky. ^ | 2009-11-09 | Adam S. Sulfridge
    Dr. Rand Paul, Republican candidate for U.S. Senate, explained his position on taxes, government spending, the drug abuse epidemic, welfare and other government benefits during an exclusive interview with the Times-Tribune, just hours before his appearance at the University of the Cumberlands in Williamsburg. Initially, Dr. Paul addressed drug abuse in rural Kentucky. As a doctor, he immediately zeroed in on more vigilant policing of doctors who recklessly write prescriptions. He asked, “Are they being disciplined? I’m a doctor and occasionally I’ll get notification from the medical licensure board of people who are having their licenses suspended.” Referencing a recent...
  • Job One is to Tell the Whole Jobs Story

    11/04/2009 5:17:50 AM PST · by myknowledge · 1 replies · 383+ views
    The Heritage Foundation ^ | October 30, 2009 | J.D. Foster
    Whenever government throws billions of dollars at the economy, one would certainly expect to find some jobs at the end of those dollars. President Obama has worked hard to convince the nation that the mega fiscal stimulus he signed into law produced some 650,000 jobs. This PR blitz is amazing in the face of an economy that has shed 3.4 million jobs since Obama was sworn in, the unemployment rate is pressing toward 10 percent, and the Obama jobs gap – the gap between where he promised we would be and actual employment — rises monthly. Political chutzpah aside, the...
  • Government Statistics and Lies [Ron Paul says Feds stealing from seniors, young Americans]

    11/02/2009 11:39:23 AM PST · by rabscuttle385 · 12 replies · 1,041+ views
    There has been a lot of talk in Washington recently about senior citizens, mostly about how various healthcare reform models would help or hurt them. But there is another critical issue that has quietly devastated seniors financially over the last few decades. It concerns how the cost of living is calculated. How does the administration justify not giving a cost of living increase to Social Security recipients this year? According to the official Consumer Price Index calculation, life has gotten cheaper for the first time in decades. If the government can show statistically that the cost of living has gone...
  • Our view on the federal budget: Both parties share blame as deficit soars to new heights

    10/24/2009 9:42:43 PM PDT · by rabscuttle385 · 30 replies · 651+ views
    USA Today | 2009-10-21
    Link only, per FR posting rules

    10/10/2009 8:19:00 AM PDT · by TheFreedomPoster · 5 replies · 315+ views
    THE FREEDOM POST ^ | October 10, 2009 | TheCapitalist
    Based on a theory known as Keynesian economics, (or, "Keynesianism" see: John Maynard Keynes) tax-and-spend politicians in Washington, D.C. have resuscitated the debunked, nonsensical notion that deficit spending during a recession can "stimulate" an economy. Considering the nation's out-of-control, unprecedented deficit spending, and the ridiculous idea floating around Washington of a "second stimulus, this short video is especially timely and educational.
  • Why the Stimulus Failed - Fiscal policy cannot exnihilate new demand

    09/02/2009 2:56:18 PM PDT · by neverdem · 9 replies · 841+ views
    National Review Online ^ | September 7, 2009 | BRIAN RIEDL
    Conservatives have correctly declared President Obama’s $787 billion “stimulus” a flop. In a January report, White House economists predicted the bill would create (not merely save) 3.3 million jobs. Since then, 2.8 million jobs have been lost, pushing unemployment toward 10 percent. Yet few have explained correctly why the stimulus failed. By blaming the slow pace of stimulus spending (even though it’s ahead of schedule), many conservatives have accepted the premise that government spending stimulates the economy. Their thinking implies that we should have spent much more by now. History proves otherwise. In 1939, after a doubling of federal spending...
  • Staying on Budget

    08/24/2009 7:52:35 AM PDT · by bs9021 · 192+ views
    Campus Report ^ | August 24, 2009 | Brittany Fortier
    Staying on Budget by: Brittany Fortier, August 24, 2009 Many Americans are expressing concerns about deficit spending in Washington, and the call for the government to reform its wasteful ways is being heard at town halls all over the nation. Newt Gingrich, Former Speaker of the House and author of the book Real Change, discussed his “new model” for America’s budgetary process at the American Enterprise Institute on August 13, 2009. Gingrich disagrees with politicians who think our budgetary problems are merely “transitory.” “I think 2009 is different,” Gingrich said. “I think we have entered into a different world. I...
  • McCain refuses to consider taxes to reduce deficit [says reduction of SS, Medicare costs needed]

    08/23/2009 9:03:03 AM PDT · by rabscuttle385 · 28 replies · 1,192+ views
    AP ^ | 2009-08-23
    WASHINGTON (AP) — Sen. John McCain is refusing to consider raising taxes to reduce the ballooning deficit. McCain was asked on ABC's "This Week" whether he would make a similar pledge as Treasury Secretary Timothy Geithner to do whatever it takes to bring down the deficit over the long run, such as raising taxes. The Arizona Republican said "no."

    08/09/2009 2:42:15 AM PDT · by Scanian · 20 replies · 1,218+ views
    NY Post ^ | August 9, 2009 | Casey B. Mulligan
    In February, the President signed a "fiscal stimulus law" to supposedly "create or save" millions of jobs. If executed according to plan, the bill will cost $789 billion, or about $2,600 for every American, and this does not even count the extra economic harm when our government levies the taxes to pay for it. Fortunately, almost 90% of the government spending planned by the law has not yet occurred -- which means that it can, and should, be stopped. The economy has been in bad shape. Employment has fallen for a year and a half now. Real GDP has dropped...
  • Huckabee compares his obesity to Obama's spending

    08/08/2009 3:40:24 PM PDT · by rabscuttle385 · 1 replies · 498+ views
    WASHINGTON (CNN) - Former presidential candidate Mike Huckabee compares his past weight problem to President Obama's economic policies in a pitch Wednesday for a financial newsletter. Huckabee, a former Arkansas governor who failed to win the 2008 Republican presidential nomination, charges that the president "is devouring the entire free-enterprise system" and lists Obama's decision to bail out the auto and banking industries as mistakes. The pitch for "Successful Investing" was sent out to readers of the conservative publication Human Events.
  • McCain: Obama spending binge must end [a RINO continues his pre-election charge to the right]

    08/07/2009 12:48:17 PM PDT · by rabscuttle385 · 29 replies · 1,410+ views
    PHOENIX -- The Obama Administration is on a spending binge that must come to an end -- and without the president's health care reform proposal, Sen. John McCain, R-Ariz., declared Friday. McCain, who lost to President Barack Obama in last year's election, told Austin Hill, guest host on News/Talk 92-3 KTAR's "Ankarlo Mornings," that "We've amassed over a trillion dollars in additional debt on the American people since the president took office." He said Obama is slipping in the polls because, "The polls are showing the manifestation of the deep concern and worry Americans have about the debt and the...
  • Senate OKs $2 billion more for Cash for Clunkers

    08/06/2009 5:55:58 PM PDT · by hole_n_one · 19 replies · 501+ views
    CNN ^ | 8/6/09 | Jennifer Liberto and Ben Rooney
    Lawmakers pass an extension of the popular program aimed at boosting auto sales. By Jennifer Liberto and Ben Rooney, staff writers Last Updated: August 6, 2009: 8:21 PM ETWASHINGTON ( -- The Senate voted 60-37 passing a $2 billion extension of the popular Cash for Clunkers program Thursday evening, as lawmakers rushed to finish business before their August recess. The House had already voted to extend the program, which blew through its $1 billion in initial funding, before it adjourned for the summer last Friday."Thank you so much for allowing this important stimulus to continue throughout the month of August,"...
  • Top Democrat predicts extension of 'cash for clunkers' plan (Just think healthcare)

    08/05/2009 3:35:27 PM PDT · by Libloather · 16 replies · 738+ views
    Yahoo ^ | 8/04/09
    Top Democrat predicts extension of 'cash for clunkers' planTue Aug 4, 4:22 PM WASHINGTON (AFP) - The Democratic leader of the US Senate Harry Reid on Tuesday predicted that Congress would this week extend a wildly popular plan to entice Americans to trade in gas guzzling cars. The "Cash for Clunkers" plan, which offers drivers up to 4,500 dollars to replace obsolete autos with more fuel efficient models, exhausted its one billion dollar budget in a weeklong spree which boosted depressed car sales. Senate Majority leader Reid said after a meeting with President Barack Obama that despite congressional wrangling over...
  • Analysis: House Health Care Bill’s Price Tag Tops $1.6 Trillion

    07/20/2009 9:21:34 PM PDT · by rabscuttle385 · 8 replies · 1,505+ views
    Roll Call ^ | 2009-07-20 | Steven T. Dennis
    How much does the House Democrats’ health care overhaul cost? Is it $1 trillion or $1.6 trillion? Democrats argue the number should be $1 trillion, a number provided by the Congressional Budget Office for the net cost of the portion of the bill affecting health insurance, and they boasted in press releases that the bill actually creates a $6 billion surplus over the coming decade. But the gross cost of the bill is much higher, more than $1.6 trillion, according to a Roll Call analysis of the CBO data. And despite more than $800 billion in tax and fee hikes,...

    06/23/2009 3:38:23 PM PDT · by TheFreedomPoster · 7 replies · 306+ views
    THE FREEDOM POST ^ | June 23, 2009 | TheCapitalist
    "President Obama, your banker is on the phone. He says that your account is overdrawn...again. You've bounced another rubber check, and your credit card is over its credit limit."
  • Here Comes Hyperinflation

    06/10/2009 8:59:40 AM PDT · by FromLori · 38 replies · 1,443+ views
    <p>Arthur Laffer joins the chorus of economists predicting that the Fed's massive stimulus will lead to hyper-inflation.</p> <p>Laffer focuses on the huge expansion of the monetary base and predicts that faced with two bad choices--inflation or crippling the economy--Bernanke will choose inflation.</p>
  • McCain: Both parties to blame for US woes [attacks the GOP]

    05/27/2009 9:31:45 AM PDT · by rabscuttle385 · 65 replies · 1,439+ views
    The Arizona Daily Star, Tucson, Ariz. ^ | 2009-05-27 | Brian J. Pedersen
    Elections have consequences. Like a stand-up comedian trying to push a catchphrase, Sen. John McCain, R-Ariz., kept coming back to that statement during an hour-long town hall gathering Tuesday in Marana. Whether it was efforts being made to turn around the economy, President Obama's nomination of Sonia Sotomayor for the Supreme Court or U.S. Rep. Nancy Pelosi's CIA allegations, McCain told the crowd of more than 200 people at the Marana Municipal Complex that today's America is a direct result of last November's voting. But rather than place all the blame on the ruling Democratic Party, McCain said Republicans were...
  • The cultural contradictions of J. M. Keynes - On the insights & limitations of the influential...

    05/24/2009 8:50:09 PM PDT · by neverdem · 5 replies · 585+ views
    The New Criterion ^ | May 2009 | James Piereson
    On the insights & limitations of the influential economist.Among the unhappy consequences of the current financial meltdown is the apparent triumph of a set of moral imperatives that seem every bit as perverse as those recorded in Alice in Wonderland. Financial institutions that took extreme risks and collapsed have to be bailed out by taxpayers on the grounds that “they are too big to fail.” Improvident borrowers, who purchased homes they could not afford and then defaulted when they could not make the monthly mortgage payments, must be subsidized by taxpayers in order to halt the slide in all house...
  • Obama's Dangerous Debt

    05/17/2009 10:35:40 PM PDT · by rabscuttle385 · 6 replies · 765+ views
    Real Clear Politics / The Washington Post ^ | 2009-05-18 | Robert Samuelson
    WASHINGTON -- Just how much government debt does a president have to endorse before he's labeled "irresponsible"? Well, apparently much more than the massive amounts envisioned by President Obama. The final version of his 2010 budget, released last week, is a case study in political expediency and economic gambling. Let's see. From 2010 to 2019, Obama projects annual deficits totaling $7.1 trillion; that's atop the $1.8 trillion deficit for 2009. By 2019, the ratio of publicly held federal debt to gross domestic product (GDP, or the economy) would reach 70 percent, up from 41 percent in 2008. That would be...
  • Obama Gives the GOP Back its Lower Taxes/Fiscal Responsibility Issue

    03/26/2009 6:44:15 AM PDT · by Shellybenoit · 11 replies · 399+ views
    WSJ/Yidwithlid ^ | 3/26/09 | Yidwithlid
    Thank You Mr. President ! During the presidential campaign you stole the Republican's Issue. The stump speech given by your campaign (and the future TOTUS) kept talking about the over-spending of President Bush and the Republican congress. Your platform was about fiscal responsibility and cutting taxes (to 95% of the country). That argument was very popular in taxpayer land. It was also the argument that the GOP has used successfully for years. What gave Obama's argument legitimacy was that republican's talked that game but acted differently. In less than 70 days since he took office the POTUS/TOTUS has proven to...
  • Obama Used 'Invest' or 'Investment' 18 Times in Press Conference to Describe...

    03/25/2009 4:06:56 AM PDT · by Cindy · 36 replies · 1,366+ views
    CNS ^ | Wednesday, March 25, 2009 | By Terence P. Jeffrey
    "Obama Used 'Invest' or 'Investment' 18 Times in Press Conference to Describe Government Deficit Spending" SNIPPET: "“CBO has also analyzed the policy proposals outlined in the President’s preliminary budget request,” said CBO’s report. “Under those policies, the deficit would total $1.8 trillion (13.1 percent of GDP) in 2009 and $1.4 trillion (9.6 percent of GDP) in 2010. The cumulative deficit over the 2010–2019 projection period would equal $9.3 trillion and would average 5.3 percent of GDP. Debt held by the public would rise from 57 percent of GDP in 2009 to 82 percent of GDP in 2019.” The CBO analysis...
  • Ron Paul defends earmarks, says anti-pork McCain is just grandstanding

    03/11/2009 6:56:34 PM PDT · by pissant · 119 replies · 3,103+ views
    LA TImes ^ | 3/11/09 | Andrew Malcom
    Ron Paul, the Texas congressman who is the darling of the Libertarian Right, has more earmarks in the pork-laden $410-billion spending bill than any other Republican. That's not according to the MSM, or the liberal blogosphere. That's what Fox News is reporting. In an interview Tuesday night with Fox News' Neil Cavuto, Paul not only defended his own earmarks, he argued that every penny in the federal budget should be earmarked, to improve transparency. Paul, a fiscal watchdog who said he voted against the bill because he believes federal spending is out of control, acknowledged that $73 million in the...