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Category Archives: National Debt
Does forgiving debt reduce economic stress?
(Christian Science Monitor) President Obama on Wednesday is launching a new plan to lower the cost of paying back student loans for millions of borrowers – the latest installment in his bid to move a jobs agenda that bypasses a … Continue reading
I could be wrong, but I’m not
Part of the 99%: Part of the 53%:
2007-08 Crisis, Autarchy, Budget Deficit, Closed System, Competition, Complexity, Culture Divide, Current Events, Economic Policy, Economic Theory, Federal Budget, Inflation, Interdependency, Keynesianism, Marxism, Motivation, National Debt, Perpetuity, Political Theory, Poverty, Resources, Self-Reliance, Self-Sufficiency, Sociology, Systems Theory, Wealth, Welfare Statism, Zero-sum
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Occupy Wall Street demands are vaguely familiar
The protestors on Wall Street known as ‘Occupy Wall Street’ have recently been identified by a list of demands evidently posted by one of their followers. Though there are no official demands by the group, the list does serve to … Continue reading
Closed System, Competition, Complexity, Culture Divide, Current Events, Debt Ceiling, Economic Policy, Economic Theory, Federal Budget, Game Theory, Inflation, Interdependency, Keynesianism, Legal Theory, Marxism, Motivation, National Debt, Notable Quotables, Perpetuity, Political Theory, Poverty, Systems Theory, Wealth, Zero-sum
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Is Social Security a Ponzi Scheme?
In the last couple of Republican presidential debates, a comment made by candidate Rick Perry on whether Social Security is a Ponzi Scheme has been the center of much discussion. The argument has spiraled (as these things tend to do) … Continue reading
The United States of America loses its AAA credit rating from S&P
(Reuters) The United States lost its top-notch AAA credit rating from Standard & Poor’s on Friday in an unprecedented reversal of fortune for the world’s largest economy. Read the S&P report here: http://www.ft.com/intl/cms/af2c4fac-bfc2-11e0-90d5-00144feabdc0.pdf
Solving the problem by adding to it and making it worse
(The New York Times) There is something you should know about the deal to cut federal spending that President Obama signed into law on Tuesday: It does not actually reduce federal spending. By the end of the 10-year deal, the federal … Continue reading
The debt debate goes back long before Nov. 2010
(Reuters) – White House and congressional negotiators are racing against the clock to forge a deficit reduction deal that would clear the way for Congress to raise the $14.3 trillion U.S. debt ceiling by Aug. 2 and avert an unprecedented … Continue reading
The debt ceiling as a perpetual soufflé
As Veronique de Rugy explains, the debt ceiling was initiated in the U.S. in 1917 as a way to ensure responsibility in congress. Since then, government has raised it nearly 100 times. In the last ten years, they have raised … Continue reading
This may bring my presidency down, but I will not yield on this.
President Barack Obama on the negotiations for short term extension of the debt ceiling. (Dow Jones)- President Barack Obama threatened to veto any short- term extension of the debt ceiling, according to several Democratic congressional aides, in what was described … Continue reading
Planned economy or planned destruction?
The more things change, the more they stay the same. This cartoon was published in the Chicago Tribune in 1934.
What will it take to save the American Dream?
(The Heritage Foundation) Saving the American Dream is The Heritage Foundation’s plan to fix the debt, cut spending and, above all, restore prosperity. It balances the nation’s budget within a decade—and keeps it balanced. It reduces the debt and cuts … Continue reading
The remedy for Fox and CNN
Beck Bennett charges America’s Youth with the challenge of dissecting the big issues and news and politics.
Death of the Dollar?
(Money Morning) At 12:15 p.m. April 27, at the conclusion of a two-day Federal Open Market Committee (FOMC) meeting, we’ll find out whether U.S. Federal Reserve Chairman Ben S. Bernanke and his policymaking posse opted for a sharp increase in … Continue reading
A government of Hottentots
(Washington Post) It was billed as President Obama’s big speech on reducing the federal budget deficit. But the Wednesday afternoon address sounded at times like the speech he did not give when he launched his reelection campaign last week. … … Continue reading
Intervention affects the economy even more when the intervention stops
(New York Times) Among the people anxiously waiting to hear if Congress can reach a budget deal are front desk clerks at the Ahwahnee Hotel in Yosemite National Park, manufacturing executives whose companies supply goods to federal agencies, bank loan … Continue reading
Perspective on the proposed budget cuts
(Reuters) – Congressional negotiators on Wednesday raced against a looming deadline to craft a budget deal that would cut billions of dollars in spending and keep the government operating beyond Friday. To gauge what all the wrangling is about, it … Continue reading
How does adding debt prevent us from default?
Geithner’s suggestion is to raise the amount of debt the borrower can take in. But that only allows the borrower to get further in the hole, and end up owing more every year. If the borrower can’t pay off the debt as it stands, what is to say that he will be able to do so when the debt is more than his income? Continue reading
A kindred spirit in effort to slay the Juggernaut
Released in 2009, Chris Martenson’s video seminar ‘Crash Course’ provides an excellent analysis of our predicament. Expanding the talk into what he calls “the Three ‘E’s”, this seminar is comprehensive if not wholly conclusive. Martenson’s book, ‘The Crash Course‘, provides … Continue reading
Does size matter in government?
In his Inaugural Address, Obama stated, “The question we ask today is not whether our government is too big or too small, but whether it works, whether it helps families find jobs at a decent wage, care they can afford, … Continue reading