Federal entitlements, which comprise 60% of the budget, have been correctly identified as the root cause of our growing annual deficit. We certainly need to enact significant reforms of Social Security, Medicare, and Medicaid. However, in order to achieve some level of fiscal integrity, there is an equally important change that we must all accept – just saying no.
I’ve only recently come to realize the nature of the hurdle this country faces in trying to turn around a stalled economy and horrendous deficit.
The potentates on the Potomac claim that President Barack Obama's signature on the "debt deal" solves the immediate problems created by Washington's spendthrift fiscal madness while "protecting America's future." Truth be told, it does neither. Here's why.
In the self-declared “Little City” where I live, a sign went up recently. It says that Falls Church plans to build one of those radar signs to alert drivers if they’re going too fast.
The failures of federal, state and local officials of both major parties, over many years, have primed a ticking bankruptcy bomb for America that will explode the American Dream if we don't disarm it.
Four years ago the Fair Tax movement helped power Mike Huckabee to a win in the Iowa caucuses. The former Arkansas governor embraced the scheme and all of its absurd assumptions –the Constitution could be amended to repeal the 17thAmendment, senior citizens wouldn’t mind having many of their assets devalued overnight etc—and reaped the political benefits.
President Obama and Democrats in congress are once again trying to sell America on tax increases. All of our problems will be solved if the “rich” would just pay more in taxes. We’ve been down this road before with disastrous results.
A leading institutional investment group is alarmed by the rapid rise in government benefits and has a new calculation to measure consumer dependency on government.
As Congress starts to wrangle with the debt ceiling issue, they might be well advised to regard Greece as the Cradle of Debt-ocracy with the U.S. as its favored son.
When Barack Obama is in flyover country, if you close your eyes, you can almost hear a moderate Republican on the stump.
If you look at the historical tables attached to President Barack Obama's latest budget proposal, they say the federal government took in $2.165 trillion in revenues in fiscal 2010 and spent $3.720 trillion, leaving a federal deficit of approximately $1.555 trillion.
If there is one number from the vast jumble the Obama administration calls a federal budget, it's this one: The American economy is projected to grow at the rate of 5 percent a year.
"America is not broke," filmmaker Michael Moore told a group protesting against Wisconsin Gov. Scott Walker's attempts to curb public employee union collective bargaining in Madison over the weekend.
When Ronald Reagan delivered his farewell address more than two decades ago, he cited one regret: a continuing deficit he had put the nation on track to eliminate.
When will you wing nuts stop referring to our economic restructuring as "socialism"? Winning the 21st century is all about business.
President Obama’s State of the Union address was arguably his best opportunity since his mid-term “shellacking” to seriously address the debt and deficit issues that threaten America’s economic stability now and far into our grandchildren’s future.
Spring is months away, but bipartisanship is blooming in Washington.
Construction Spending "Once Again Defies Expectations" Much Weaker Than Expected; Four Reasons Economists Perplexed | Mike Shedlock