The so-called Millennials, 18-29 year olds, voted 60% to 36% for Obama. I call that an anti-Faustian bargain because while Faust sold his soul to the devil he at least gained knowledge and power. The Millennials sold out their future … Continue reading
From the Washington Post: In Pa., Obama pushes for his debt-reduction approach Obama has no “debt-reduction” approach. His only proposal so far is a $1.6 trillion tax increase and elimination of the debt ceiling. He proposes no spending cuts of … Continue reading
On July 15, 2011, I wrote this: Federal debt as a share of GDP was 40% in 2008; it is estimated to be 72% this year. I’ve read commentary that cites research showing that societies begin a steep decline when … Continue reading
How long can a government with a $16 trillion foreign debt remain a world power? The Americans have injected their paper wealth into the world economy and today the aftermaths and negative effects of their pseudo-wealth have plagued them. An empire, … Continue reading
US Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP Flickr Darth Obama’s Debt Star Big government is too expensive and those who have to pay for it never get their money’s worth. … Continue reading
The Five Most Catastrophic Hidden Costs of the Obama Presidency First, the obvious damages: High unemployment Crashing home values, worst since the Great Depression Explosion in the national debt and the annual deficit Massive and growing unfunded liabilities for Social … Continue reading
House Speaker John Boehner’s plan provides some spending cuts and raises the debt ceiling enough to allow things to go on for a while but not through the next election. Those italicized words are the most important part of Boehner’s … Continue reading
Moody’s has called for a repeal of the debt-ceiling law. Their reasoning is that it leads to the sorts of political chicken games now being played in Washington that throw world financial markets into turmoil. Thomas Sowell also calls for … Continue reading
If Jane uses credit card B to pay off the balance on credit card A, then charges more on card A because Jane is still spending more than her income every month, we know that Jane will soon max out … Continue reading
(CNSNews.com) - 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 … Continue reading