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Keyword: nationaldebt

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  • The Five Most Catastrophic Hidden Costs of the Obama Presidency

    08/24/2011 12:24:59 PM PDT · by Kaslin · 11 replies
    Pajamas Media ^ | August 24, 2011 | Kyle- Anne Shiver
    Deep prices waiting to pounceWe well remember candidate Barack Obama’s ’08 throngs laying in breathless wait for the “Lightworker” to appear and speak as “sort of like God” from his teleprompter on high. Now, with nearly everything this president has touched lying in shambles, a shrunken Obama whines from town to town, transported in a taxpayer-purchased bus that resembles a big, fat hearse — the perfect symbol for the harbinger of economic death that Obama’s presidency has become.It’s painfully apparent now that the American people were scammed in ’08 by Barack the Bamboozler in what will be known historically as...
  • Obama Is Unpatriotic

    08/24/2011 12:00:15 PM PDT · by chatter4 · 6 replies
    Youtube ^ | August 24, 2011 | Chatter4
    Obama has already added over $4 trillion in only 2 1/2 years. Is that Patriotic? Obama himself said it is not...
  • National debt has increased $4 trillion under Obama [Obama blames policies inherited from......]

    08/22/2011 4:51:56 PM PDT · by Sub-Driver · 9 replies
    National debt has increased $4 trillion under Obama By Mark Knoller The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It's the most rapid increase in the debt under any U.S. president. The national debt increased $4.9 trillion during the eight-year presidency of George W. Bush. The debt now is rising at a pace to surpass that amount during Mr. Obama's four-year term. Mr....
  • US will never default, Vice-President Biden tells China

    08/21/2011 11:42:17 AM PDT · by Baladas · 33 replies
    BBC News ^ | 21 August 2011 | staff
    United States Vice-President Joe Biden, who is visiting China, has said the US would never default on its debt. In a speech on the last day of his visit, he reiterated that China's large holdings of dollar assets were safe. His trip comes amid mounting tension between the two over America's debt. Chinese officials have criticised the political row in the US over raising its borrowing ceiling, and expressed concern over the recent downgrade of the country's credit rating. "You're safe," Mr Biden told university students in the south-western town of Chengdua, in answer to a question about Washington's ability...
  • Your share of the national debt is $246,000, but state indebts can add another $23,000 to your tab

    08/17/2011 8:12:52 AM PDT · by jmaroneps37 · 8 replies · 1+ views ^ | August 17, 2011 | Kevin Coach Collins
    Our current national debt is more than $14.4 TRILLION dollars and your personal share is more than $246,000! Using $40,000 as an average yearly income, this means our government has eaten through more than six years of our income. If these numbers were the only debt piled on our heads it would be bad enough, unfortunately this $246,000 is only our share of the federal debt. Depending on the state you live in, your indebtedness can be much worse. A new report from the Institute for Truth In Accounting (IFTIA) holds some disturbing news about how deep some states have...
  • What's the Real National Debt? $211,000,000,000,000

    08/08/2011 11:36:18 AM PDT · by SeekAndFind · 8 replies
    Christian Post ^ | 08/08/2011 | Napp Nazworth
    The national debt is at $14.5 trillion, but the real debt is the $211 trillion in unfunded liabilities. The national debt is the United States' current outstanding debt obligations. Though the current debt is quite high, discussion of the current debt avoids the real issue that Standard & Poor's attempted to raise with its downgrade of the nation's credit rating. The current level of debt is large, but manageable. The levels of future debt are where the real problem lies and where policy solutions need to be addressed. The U.S. government has made promises that it will be unable to...
  • Amid Criticism on Downgrade of U.S., S.&P. Fires Back

    08/07/2011 5:17:23 AM PDT · by reaganaut1 · 35 replies
    New York Times ^ | August 6, 2011 | NELSON D. SCHWARTZ and ERIC DASH
    The day after Standard & Poors took the unprecedented step of stripping the United States government of its top credit rating, the ratings agency offered a full-throated defense of its decision, calling the bitter stand-off between President Obama and Congress over raising the debt ceiling a debacle. It warned that further downgrades may lie ahead. In an unusual Saturday conference call with reporters, senior S.& P. officials insisted the ratings firm hadnt overstepped its bounds by focusing on the political paralysis in Washington as much as fiscal policy in determining the new rating. The debacle over the debt ceiling continued...
  • Anger Over Credit Rating Resurfaces in Washington

    08/07/2011 5:06:01 AM PDT · by reaganaut1 · 40 replies
    New York Times ^ | August 6, 2011 | LOUISE STORY, JULIE CRESWELL and GRETCHEN MORGENSON
    The frustration in the air was palpable. Officials from the credit ratings agency Standard & Poors were meeting with Congressional leaders on a stifling late day in late July to discuss the thorniest issue in Washington: the effort to cut the nations deficit and raise the borrowing limit to avert a default. S.& P. and two financial industry groups listened to various proposals for debt reduction and warned the lawmakers of the impact a default would have on world markets, according to a Congressional staff member in attendance. The staff member said the agency was providing guidance on what target...
  • The Hawks Dilemma

    08/06/2011 8:36:04 AM PDT · by AfricanChristian · 6 replies
    New York Times ^ | Ross Douthat
    Theres plenty to be said about the details of the debt ceiling deal, but lets start with the provision thats making conservatives unhappiest: The use of broad defense cuts as part of the trigger mechanism that would automatically slash spending if the latest deficit commissions recommendations cant pass Congress. (See Rich Lowry, Bill Kristol, Yuval Levin, and others for expressions of concern and/or outright alarm.) In effect, defense cuts assumed the role that liberals wanted revenue increases to play in these negotiations, becoming the place where Republicans would give a little in order to get the deal they wanted done....
  • Obamas Bad Bargain (the left is becoming unhinged)

    08/03/2011 9:54:12 AM PDT · by Huskrrrr · 50 replies
    The Nation ^ | July 27, 2011 | William Greider
    The most distressing outcome of the deficit hysteria gripping Washington may be what Barack Obama has revealed about himself. It was disconcerting to watch the president slip-slide so easily into voicing the fallacious economic arguments of the right. It was shocking when he betrayed core principles of the Democratic Party, portraying himself as high-minded and brave because he defied his loyal constituents. Supporters may hope this rightward shift was only a matter of political tactics, but I think Obama has at last revealed his sincere convictions. If he wins a second term, he will be free to strike a truly...
  • Young Girl Explains the Debt to Dad

    08/01/2011 7:16:22 PM PDT · by CharlyFord · 20 replies
    YouTube ^ | Jul 31, 2011 | RightChange
    Young Girl Explains the Debt to Dad
  • A Fool's Tower: Debt, Default, and Worldview -Chuck Colson's Breakpoint commentary

    07/31/2011 5:59:13 AM PDT · by InvisibleChurch · 14 replies · 1+ views ^ | 07'28'11 | Chuck Colson
    The clock is ticking. The United States is on the verge of default. Congress and the president seem unable to come together and find an agreement avoiding an economic catastrophe. How in the world did we get into this fix? Well, it didnt happen overnight. Its been coming for a generation. For years, fiscal conservatives have warned about the dangers of out-of-control borrowing and spending, but current and previous presidents and congresses have ignored them, rolling up a massive national debt. The bigger question is why did the American people stand for this? The answer is painfully clear. Because the...
  • Carney Gets Hit For Ten Minutes On The Obama Plan (Or Lack Thereof)

    After bobbing-and-weaving for nine minutes, Carney finally says what everybody knows: the president wont put his plan on paper because he doesnt want it to become politically charged before a compromise can be reached. In other words, youve got to pass it to find out whats in it:
  • Debt Financing Business As Usual

    07/26/2011 4:04:43 PM PDT · by street_lawyer · 6 replies
    In the cart below the blue line represents government spending and the red line represents tax revenue. When they say we have a spending problem not a revenue problem I dont buy it. I think the real problem is that industry has been disappearing from the economy for at least the past 40 years and it would be fair to say the past 70 years. Its not about what the economy is doing on a year by year. Its not about consumer confidence. Its not about spending on national defense, its not even about social security and Medicare. The problem...
  • The Gold Standard, Printing Money and the Federal Reserve

    07/24/2011 12:40:22 PM PDT · by Tolerance Sucks Rocks · 32 replies
    Nolan Chart ^ | July 23, 2011 | James Luko (centrist)
    The media is hyping and harping on the issue that the Federal Reserve will resort to PRINTING more money to feed another round of quantitative easing. This is a wholly incorrect fact. The Department of Treasury prints our "paper currency NOT the Federal Reserve. Quantitative easing is the Federal Reserve increasing bank reserves- thereby creating new money electronically- but, for a stated purpose of stimulating the economy and NOT for paying government debt. This is a salient point that the media mixes up, assuming and misinforming the public that QE is paying for increased government debts. QE serves a fundamental...
  • Cornyn: Obama Bypassing Congress on Debt Limit is 'Crazy Talk'

    07/03/2011 2:33:35 PM PDT · by ColdOne · 36 replies ^ | July 03, 2011 |
    Sen. John Cornyn warned President Obama on Sunday to not even consider interpreting the Constitution's Fourteenth Amendment to bypass Congress and raise the debt limit without its approval.
  • America's Economy Of Errors

    06/29/2011 4:04:46 PM PDT · by Barry Secrest
    Conservative Refocus ^ | 06/29/2011 | Barry Secrest
    It has always been the case in history, when a particular event occurs that is significant, no one can actually know at the time the portent of the event in question. For instance, who could have known that the tyrannical excesses of King George during the Americas' colonization would eventually lead to a Revolution that would define free societies for the next two and a half centuries? Even better, who could have known that this same revolt against Great Britain would ultimately lead to the salvation of a latter day United Kingdom, if not the world, during both Germany and...
  • The final ticks of Americas bankruptcy bomb

    06/24/2011 12:43:42 PM PDT · by Clintonfatigued · 13 replies
    The Washingtin Times ^ | June 23, 2011 | Peter Ferrara
    The failures of federal, state and local officials of both major parties - over many years - have primed a ticking bankruptcy bomb for the United States that will explode the American Dream if we dont disarm it. But its not too late to reverse course and avert the coming national bankruptcy. That will require fundamental structural reforms of all levels of government and our most politically sensitive entitlement programs. If we do this right, thoroughly modernized entitlements will serve the poor and most vulnerable among us far better, and a new economic boom will restore Americas traditional, world-leading prosperity....
  • The Insolvency Index

    06/20/2011 6:11:06 AM PDT · by randita · 6 replies
    American Thinker ^ | 6/20/11 | Steve McCann
    June 20, 2011The Insolvency Index By Steve McCann In the early 1970's economist Arthur Okun developed the Misery Index. This was intended to measure or put in some context the real-world suffering of the individual during an economic downturn. It was also simple in its nature, as the index was a combination of the inflation rate and the unemployment rate; as such it was easy to understand and relate to.Today the issue is not just the suffering of individual citizens in countries throughout the world (and the United States) but the financial survival of these nations. Never before in history...
  • China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills

    06/04/2011 7:07:59 AM PDT · by Clintonfatigued · 56 replies
    CNS News ^ | June 3, 2011 | Terence P. Jeffrey
    China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing its ownership of the short-term U.S. government securities from a peak of $210.4 billion in May 2009 to $5.69 billion in March 2011, the most recent month reported by the U.S. Treasury. Treasury bills are securities that mature in one year or less that are sold by the U.S. Treasury Department to fund the nations debt. Mainland Chinese holdings of U.S. Treasury bills are reported in column 9 of the Treasury report linked here. Until October, the Chinese were generally making up for their decreasing holdings in...
  • Outlaw Josey Wales - Part Four

    06/02/2011 6:00:44 PM PDT · by Aquamarine · 15 replies
    Now remember, when things look bad and it looks like youre not gonna make it, then you gotta get mean. I mean plumb, mad-dog mean. Cause if you lose your head and you give up then you neither live nor win. Thats just the way it is. Josey Wales Outlaw Josey Wales To hell with them fellas. Buzzards gotta eat, same as worms. Josey Wales Outlaw Josey Wales There is a war underway in this country. The working middle class that built this country from the ground up are being systematically eliminated by a small cabal...
  • Idaho to be first Chinese state

    05/31/2011 8:02:52 PM PDT · by Tolerance Sucks Rocks · 57 replies
    The Examiner ^ | May 31, 2011 | Bill Turner
    Governor Butch Otter, in league with notorious Marxist, B. Hussein Obama, have hatched a plan to make Idaho the first Chinese owned state in America. Otter and company have named this Project 60. Sounds innocent enough, until you realize that Otter and his minions are afraid to call it what it is, globalization of America and surrender of sovereignty. If it were called that someone may want to charge Otter with sedition. Under B. Hussein Obama it has become increasingly difficult to do business in America, unless you are from a foreign nation. Idaho, under the stewardship of Governor Butch...
  • Point of No Return | National Debt Tops Personal Income

    05/29/2011 12:26:49 PM PDT · by NaturalBornConservative · 14 replies
    Natural Born Conservative ^ | May 29, 2011 | Larry Walker, Jr.
    ~ By: Larry Walker, Jr. ~For the first time since World War II, the National Debt of the United States has exceeded personal income, on a per capita basis. The point of no return was breached in 2010, during Barack Obamas second year in office, and the derangement continues to spin hopelessly out of control. This means that every dollar earned by an American citizen is now owned by the federal government, and then some. Thats right, the average annual income of most working-class Americans now belongs to the federal government. The warning of Thomas Jefferson has come to pass,...
  • Selling Gold at Fort Knox Emerges as Next Big Question in Debate on Federal Debt Limit

    05/17/2011 12:21:08 PM PDT · by statestreet · 118 replies · 1+ views
    The New York Sun ^ | May 17, 2011 | David Pietrusza
    NEW YORK The next big question on the federal debt limit could be whether to start selling the governments holdings of gold at Fort Knox and at least one presidential contender, Ron Paul, has told The New York Sun he thinks it would be a good move. The question has been ricocheting around the policy circles today. An analyst at the Heritage Foundation, Ron Utt, told the Washington Post that the gold holdings of the government are just sort of sitting there. He added: Given the high price it is now, and the tremendous debt problem we now...
  • Governments fiscal malfeasance should be grounds for impeachment

    04/26/2011 6:52:01 AM PDT · by James H. Shott · 3 replies
    Liberty Ledger ^ | April 269, 2011 | James H. Shott
    Did you know that the United States paid $413 billion in interest on the national debt in 2010, and that was more than we spent running a dozen federal departments and agencies (Health and Human Services, Transportation, Energy, Veterans Affairs, Housing and Urban Development, Justice, Homeland Security, Agriculture, Commerce, Treasury, Labor, and the Small Business Administration) combined? The US spending addiction is so bad that since 1988 we have spent $8 trillion on interest payments alone. According to, thats enough to buy every taxpayer more than 140 million of us a really expensive Lotus sports car. The...
  • Nouriel Roubini On The One Big Reason To Be OPTIMISTIC About The National Debt

    04/20/2011 12:00:14 PM PDT · by SeekAndFind · 16 replies
    Business Insider ^ | 04/20/2011 | Joe Weisenthal
    This is odd. A rare note ot sorta-optimism from Nouriel Roubini (AKA Dr. Doom) regarding the US debt situation. In a note this morning that he put with fellow analyst Arnab Das, he writes: "The United States has the most manageable fiscal issues of any major advanced economy because federal, state and local revenues as a share of GDP are very low, for cyclical and other reasons. Therefore, fiscal balance can be restored by fiscal adjustment without major economic difficulty in the near term." In other words, US revenue and spending can be brought closer into line via raising more...
  • Forget "Deficit Reduction"--We Need Debt Reduction!

    04/14/2011 1:02:35 PM PDT · by Joachim · 6 replies
    4/14/2011 | Self
    Anyone else tired of all the deficit reduction talk? If winning the political game is about having the winning narrative, why are conservatives even talking about deficit reduction? Do ordinary Americans, those trying to live within their means, content themselves with deficit reduction? Could they? Does any normal person, uncorrupted by political discourse, feel motivated by the lofty goal of going a little less in the hole than last year? No. People are motivated by the goal of becoming debt-free, of taking back their freedom from their creditors. People recognize that debt is financial slavery: a small servitude yes, if...
  • Analysis: GOP Won First Round of Budget Battle (but looking forward to next big battle)

    04/09/2011 6:08:28 PM PDT · by sickoflibs · 118 replies
    AOL News ^ | Apr 9, 2011 | Charles Babington
    WASHINGTON -- Republican conservatives were the chief winners in the budget deal that forced Democrats to accept historic spending cuts they strongly opposed. Emboldened by last fall's election victories, fiscal conservatives have changed the debate in Washington. The question no longer is whether to cut spending, but how deeply. Rarely mentioned is the idea of higher taxes to lower the deficit. Their success is all the more notable because Democrats control the Senate and White House. But more difficult decisions lie ahead, and it's not clear whether GOP lawmakers can rely on their winning formula. They pushed Democrats to the...
  • Libertarians say Paul Ryan is worse than Bill Clinton

    04/05/2011 8:27:51 PM PDT · by Tolerance Sucks Rocks · 70 replies
    The Libertarian Party ^ | April 5, 2011 | The Libertarian Party
    WASHINGTON - In response to House Budget Committee Chairman Paul Ryan's new budget proposal, Libertarian Party Chair Mark Hinkle issued the following statement today: "Americans hoping to get real about our national debt just got sucker-punched by Republican Paul Ryan. "Republicans want to spend $40 trillion over ten years. That averages a staggering $4 trillion per year. As recently as 2000, federal spending was only about $1.8 trillion. "They also want to increase the federal debt from $15.0 trillion to $23.1 trillion. I hope our children and grandchildren enjoy paying interest on that extra $8.1 trillion. "People should not judge...
  • GOP proposes $6.2 trillion in spending cuts

    04/05/2011 9:01:56 AM PDT · by Ernest_at_the_Beach · 32 replies
    MarketWatch ^ | April 5, 2011, 11:24 a.m. EDT | Robert Schroeder, MarketWatch
    2012 plan revamps Medicare, lowers corporate tax rate to 25%WASHINGTON (MarketWatch) Opening a new battle in Washingtons budget wars, House Republicans on Tuesday proposed to slash government spending by $6.2 trillion over 10 years, cut the top corporate tax rate to 25%, and dramatically overhaul the Medicare program. Republicans fiscal 2012 budget blueprint, released by House Budget Committee Chairman Paul Ryan of Wisconsin, would also scrap President Barack Obamas health-care law, remake federal welfare programs and allow oil and gas companies to drill more freely. It cuts $6.2 trillion over the next decade compared to Obamas 2012 budget proposal....
  • I heard a comparison that puts a trillion in perspective . . .(Vanity)

    04/04/2011 5:29:30 PM PDT · by righttackle44 · 34 replies
    Coast To Coast AM (believe it or not) | April 4, 2011 | Righttackle 44
    I have had a difficult time wrapping the concept of one trillion around my head. Comparisons to stuff in warehouses and football fields and all just didn't do it for me. But last night, Chuck Missler finally stated a comparison I can fathom. He put it in terms of seconds. One million seconds is four days. One billion seconds is 32 years. One trillion seconds is 32,000 years. Think how much money Obama and his Democrats have heaped on us, in these terms.
  • Obama goes deep, sets new record

    03/26/2011 6:23:56 PM PDT · by thatjoeguy · 24 replies
    The Times ^ | 03/25/2011 | Thomas Sowell
    - They say that records are made to be broken. President George W. Bush set a record by adding $3.2 trillion to the national debt over the course of his eight years in office. But Barack Obama has already beaten that record with $4.4 trillion in just his first three years in office. - People who thoughtlessly give money to panhandlers on the street seem not to realize that this is making installment payments on the degeneration of America. - Don't mention "municipal golf courses" to me. It sends my blood pressure up through the roof. What earthly excuse is...
  • Everyone knows that in the 1860′s Lincoln freed the slaves but

    03/17/2011 8:25:27 AM PDT · by jmaroneps37 · 9 replies · 1+ views ^ | MARCH 17TH, 2011 | Ron Reale, staff writer
    Has anyone noticed that since 2009, Obama enslaves the free? Our government now owns us, and demands payment for that ownership. Fines or imprisonment for our mere existence is in our future. The sheer magnitude of the interest on our debt will keep our children and their children at 70 to 80% tax rates, and still it will not be enough. Impossible to pay back No one comprehends figures like trillions, and the size and exponential growth of the interest. It is about to reach the point of no return. There is not enough money or business in the country...
  • Economic Collapse 101 For Dummies

    03/11/2011 7:59:01 PM PST · by grey_whiskers · 5 replies
    You Tube ^ | Jan 02 2011 | samruai conservative
    Click the link. It's devastating to Obama.
  • Our Fiscal Nightmare on Steroids

    03/10/2011 6:06:29 AM PST · by bsaunders · 1 replies
    Beyond the Cusp ^ | March 10, 2011 | Brian Saunders
    Almost everywhere you look, somebody is talking, writing, discussing, or editorializing about cutting spending responsibly or drastically or intelligently or across the board. The problem is that nobody is proposing cutting spending in a way that will reduce the national debt. Even the most austere proponents simply desire to pass a Constitutional Amendment that requires the Federal Government to have a balanced budget. Unfortunately, even a Balanced Budget Amendment would increase the debt as most proponents exempt interest on the debt and off budget spending from being included when balancing the budget. The Balanced Budget Amendment would only require the...
  • Sowell: Reckless Spending

    02/21/2011 6:11:52 PM PST · by jazusamo · 23 replies
    GOPUSA ^ | February 21, 2011 | Thomas Sowell
    Nothing more clearly illustrates the utter irresponsibility of Barack Obama than his advocacy of "high-speed rail." The man is not stupid. He knows how to use words that will sound wonderful to people who do not bother to stop and think. High-speed rail may be feasible in parts of Europe or Japan, where the population density is much higher than in the United States. But, without enough people packed into a given space, there will never be enough riders to repay the high cost of building and maintaining a high-speed rail system. Building a high-speed rail system between Los...
  • David Brooks: Tomorrow Never Comes (Obama's leadership and the national debt)

    02/18/2011 11:45:51 AM PST · by neverdem · 15 replies
    NY Times ^ | February 17, 2011 | David Brooks
    Jonathan Alter wrote a book about Barack Obamas first year in office called The Promise. Thats a great title because it works on so many levels. For example, over the past four years, Obamas career has been marked by a constant promise: He has continually said he is on the verge of doing something serious abut the national debt. He started making the promise back when he was in the Senate. In The Audacity of Hope, published in 2006, he expressed alarm at the mountain of debt caused by $300 billion... --snip-- The president and his aides may really believe...
  • Obama Budget Doubles National Debt to $26.3 Trillion in 10 Years

    02/14/2011 12:50:54 PM PST · by Tolerance Sucks Rocks · 36 replies ^ | February 14, 2011 | Matt Cover
    ( If the federal budget released by President Barack Obama today is implemented, it will double the national debt over the next 10 years. The current national debt is $13.56 trillion (end of FY 2010). By the end of 2021, that debt would rise to $26.3 trillion under the White House budget. The figures reflect the effects of Obamas fiscal year 2012 budget priorities, particularly a federal deficit that never falls below $500 billion in any year between 2010 and 2021.The national debt both debt held by the public and debt held by government accounts (the Social Security...
  • Let Politicians Suffer the Consequences of Ruining America's Credit

    02/07/2011 3:55:49 PM PST · by all the best · 9 replies
    Hartford Advocate ^ | February 5, 2011 | Phil Maymim
    Lower the debt ceiling The big faux debate in Washington these days is whether or not the federal debt limit should be raised. Congress needs to pass a new law each time the government reaches its previous limit on how much money it can borrow. Over the past 70 years, they have raised it more than once a year on average. In other words, the debt limit is not a limit at all. Its just a formality. Its as if you set yourself a goal to have a balance of less than $3,000 on your credit card bills. Then, after...
  • Michele Bachmann Asks Iowans, Will America Endure?

    01/21/2011 11:45:52 PM PST · by iowaguy1972 · 16 replies · 1+ views
    Caffeinated Thoughts ^ | 1/22/2011 | Shane Vander Hart
    Congresswoman Michele Bachmann (R-MN) was in Des Moines, IA yesterday and wrapped up her busy day that got off to a somewhat rocky start with a speech at a reception hosted by Iowans for Tax Relief that had approximately 190 people in attendance. She noted that her trip to Des Moines has sparked a lot of speculation about 2012. She said that she had an announcement to make for those of us in the audience.
  • A Trillion Here, a Trillion There...

    01/20/2011 6:35:11 AM PST · by JerseyHighlander · 3 replies ^ | January 18, 2011 | Michael Panzner
    A Trillion Here, a Trillion There... A billion here, a billion there, and pretty soon you're talking real money.--Attributed to the late Sen. Everett DirksenWith the kinds of numbers we are seeing nowadays, I reckon the good ole Republican Senator from Illinois might have been known for a slightly different quip if he had lived for another 40 years or so:Consumer credit outstanding: $2.4 trillion Mortgage debt outstanding: $10.6 trillionFederal debt outstanding: $14 trillionCommercial/multifamily mortgage debt outstanding: $3.2 trillionMunicipal bonds outstanding: $2.8 trillionCorporate debt (non-financial companies) outstanding: $7.4 trillionPublic pension underfunding: $2.5 trillionInfrastructure investment needed: $2.2 trillionU.S. fiscal gap: $202...
  • Problem of Paying Down the Debt

    01/17/2011 12:21:05 PM PST · by survivingcalifornia · 12 replies
    Inquiring minds are reading America: Paydown problems. For the people who thought that last Novembers election bantering was just rhetoric from the rightthink again. It is not dying down or out, but increasing: It was the most startling of warnings. If the US does not get its finances in order we will have a European situation on our hands, and possibly worse, claimed Paul Ryan, the new Republican chairman of the House of Representatives budget committee. The consequences of not tackling the countrys mounting debt burden would be dire, he last week told an audience of leading budget experts and...
  • Is Harry Reid in denial?

    01/09/2011 2:44:35 AM PST · by Scanian · 8 replies
    The American Thinker Blog ^ | January 09, 2011 | Joseph Smith
    Senate Majority Leader Harry Reid sounds like he wants to believe Tea Party activists have a very short attention span. Fox News reports, and Real Clear Politics has the video, if you have the stomach for it: "The Tea Party will disappear when the economy gets better and the economy's getting better all the time," Reid said in an interview with NBC's "Meet the Press" that's set to air Sunday. Perhaps Mr. Reid is woefully unaware of what the Tea Party has been saying these past two tumultuous years. Or maybe he is simply the Dutch boy with his finger...
  • It Sure Seems Like We're Done

    01/01/2011 3:39:49 PM PST · by FromLori · 22 replies
    American Thinker ^ | 1/1/11 | Jack Curtis
    For those legislating and regulating industry out of the country and reducing our living standard back to maybe 1800 to call themselves Progressives requires a sense of humor, but in a way, they're right. Closing Post-Classical civilization to move into a new era can be called progress, at least by some. Most in the newborn Western Christian era during its early Dark Ages might not have seen it as progress but we at the intended end of its flowering of wealth and technology certainly think of it that way. History leaves no doubt that civilizations rise and fall; the fall...
  • National Debt Tops $14 Trillion

    01/03/2011 4:06:20 PM PST · by Las Vegas Ron · 32 replies ^ | January 3, 2011 5:57 PM | Mark Knoller
    The latest posting today of the National Debt shows it has topped $14 trillion for the first time. The U.S. Treasury website today reported that as of last Friday, the last day of 2010, the National Debt stood at $14,025,215,218,708.52. It took just 7 months for the National Debt to increase from $13 trillion on June 1, 2010 to $14 trillion on Dec. 31. It also means the debt is fast approaching the statutory ceiling $14.294 trillion set by Congress and signed into law by President Obama last February.
  • The Four Questions Every Liberal Must Be Asked

    12/29/2010 3:32:59 AM PST · by Scanian · 60 replies · 9+ views
    The American Thinker ^ | December 29, 2010 | Tony Kondaks
    Ever notice how liberals like to spend money...particularly other people's money? If you've ever found yourself engaged in debate with a liberal in an attempt to convince him that government spending is out of control you know it's often an exercise in frustration. This is especially true when your liberal invokes his holier-than-thou conviction that the supposed good he is intent on imposing upon the world - both domestically and internationally - must trump any financial considerations you may introduce into the debate. Well, fret no more. Here's a surefire formula to stop any liberal dead in his tracks: a...
  • Can anyone confirm or help deny or maybe even zot?

    12/18/2010 8:39:05 PM PST · by Saddle-up · 143 replies · 1+ views
    Please help confirm or deny this report.
  • National Debt - National Security Threat

    11/20/2010 11:17:18 AM PST · by OwenKellogg · 9 replies
    Federalist Papers 2 ^ | Colonel Frank Ryan
    The greatest national security threat to the United States is our national debt. A determined enemy could bring us to our knees without firing a shot. Moody's rating service indication that it is considering downgrading the debt of the U. S. Treasury from the gold standard AAA rating to a double AA rating is a warning that should not go unheeded! Just as President Reagan helped bring down the Russian empire in a classic economic chess game in the 1980s, the United States faces a similar risk in 2010 and beyond. Since 1997, the national debt has climed from $5.4...
  • "The Secret Of Oz" - The Truth Behind The Modern Financial System,... (Free link to movie)

    11/15/2010 2:40:11 AM PST · by Daisyjane69 · 11 replies
    Zero Hedge ^ | 11/14/10 | Tyler Durden
    While America is entertained by a rather realistic cartoon of what happens when the Fed (semantics aside) prints money with which to buy up whatever assets it so chooses, and launders the cash for the Primary Dealers (a topic discussed ad nauseam on Zero Hedge), we present a rather more somber and serious look at the modern financial system, courtesy of Bill Still, creator of the movie: "The Secret of Oz" which explains in a far more nuanced manner the interconnectedness in the vicious square of power, politics, money creation and debt formation, and Wall Street, the Fed, and the...
  • Why do great nations fail?

    11/01/2010 10:46:02 AM PDT · by Todd Kinsey · 10 replies
    Must see video - Why do Great Nations Fail? Why is the national debt such a big deal? Watch this video and find out.