Posts Tagged ‘budget deficit’

Federal Government Debt Undermines the Programs It Finances


Wednesday January 23rd, 2013   •   Posted by Randall Holcombe at 9:08am PDT   •   1 Comment

Just looking at the rate at which the federal government’s debt is growing is unnerving. If you’re brave, you can look here. The table shows federal debt on September 30 of each year, the end of the federal government’s fiscal year. The numbers almost speak for themselves. About 37.6% of that debt was accumulated…
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Fiscal Discipline?


Monday March 5th, 2012   •   Posted by Emily Skarbek at 11:50am PDT   •   0 Comments

Last week, Moody’s cut Greece’s credit rating to the lowest level on its scale, citing risk of default despite the recent write-off deal. Moody’s said the rating decision was “prompted by the recently announced debt exchange proposals for Greece, which imply expected losses to investors in excess of 70%.” The sovereign debt crisis in…
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Should Politicians Rely on Millionaires to Fund Government?


Wednesday November 16th, 2011   •   Posted by Craig Eyermann at 5:52am PDT   •   2 Comments

Pretend for a moment that you’ve just been elected to public office and that you now have the power to choose whose income you’re going to tax to pay for all the vital government programs you believe should be supported. If you want to keep those vital government programs on a sound financial footing,…
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Washington Breaks Government Spending Record: $3.6 Trillion


Tuesday October 25th, 2011   •   Posted by David Theroux at 11:39pm PDT   •   1 Comment

The Wall Street Journal reports in “A New Spending Record: Washington had its best year ever in fiscal 2011″ that: Maybe it’s a sign of the tumultuous times, but the federal government recently wrapped up its biggest spending year, and its second biggest annual budget deficit, and almost nobody noticed. Is it rude to…
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The Federal Government Admits It Paid $600 Million to Dead People


Saturday September 24th, 2011   •   Posted by David Theroux at 3:51pm PDT   •   2 Comments

Sam Hananel at the Associated Press reports that despite knowing about the problem since 2005: The federal government has doled out more than $600 million in benefit payments to dead people over the past five years, a watchdog report says. Such payments are meant for retired or disabled federal workers, but sometimes the checks…
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The Dilemma of “Too Big to Fail” Bank Bailouts


Saturday July 16th, 2011   •   Posted by David Theroux at 2:44pm PDT   •   0 Comments

In his article in the Summer 2011 issue of The Independent Review, “The Dilemma of Bailouts,” economist Roy C. Smith (New York University) examines why despite its prohibition of taxpayer-funded bailouts, the Dodd-Frank Act has left the financial system exposed to meltdowns and promotes the shifting of risk from large “systemically important” financial firms…
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Unemployment Up to 9.2%: Obama Wants Far More Spending, Debt and Taxes


Friday July 8th, 2011   •   Posted by David Theroux at 5:38pm PDT   •   1 Comment

With the official unemployment rate having now risen to 9.2%, Patrick Buchanan notes in his new column, “An Establishment in Panic,” that another 7% are underemployed and economic growth is a very weak 1.8%. Obama’s predictable answer is higher taxes and to raise the federal debt ceiling so that even more spending and debt…
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Is America Now More a Nation of Takers than Makers?


Friday April 1st, 2011   •   Posted by David Theroux at 2:11pm PDT   •   4 Comments

In a new article for the Wall Street Journal, “We’ve Become a Nation of Takers, Not Makers,” Stephen Moore discusses that “More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined.” If you want to understand better why so many states—from New York to Wisconsin to California—are teetering…
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The Day the Debt Comes Due


Monday March 28th, 2011   •   Posted by Emily Skarbek at 7:14am PDT   •   4 Comments

“My fellow Americans, I come to you today with a heavy heart. We have a crisis on our hands. It is one of our own making. And it is one that leaves us with no good choices. For many years, our nation’s government has lived beyond its means…We have not faced the hard reality…
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World’s Biggest Bond Fund Dumps All U.S. Government Debt


Wednesday March 9th, 2011   •   Posted by David Theroux at 7:50pm PDT   •   0 Comments

Susanne Walker reports at Bloomberg that because of fears of inflation created by the enormous credit expansion by the Federal Reserve and rapidly increasing U.S. government deficit spending, the world’s biggest bond fund at Pacific Investment Management Company (Pimco) has dropped all U.S. government debt from its portfolio. Bill Gross, who runs the world’s…
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