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…
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…
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,…
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…
The remedy for Fox and CNN
Beck Bennett charges America’s Youth with the challenge of dissecting the big issues and news and politics.
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…
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…
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…
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?