Posts Tagged ‘federal debt’

Federal Government Shutdown Theater Christmas Pageant


Friday December 22nd, 2017   •   Posted by Craig Eyermann at 6:50am PST   •   0 Comments

It’s back! It was just two weeks ago that the U.S. Congress delayed a scheduled presentation of federal government shutdown theater until the holidays, and now that the holidays have come, the U.S. Congress has… delayed what could have been a Christmas pageant episode of federal government shutdown theater for another month. Mike DeBonis…
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Getting Skinny


Thursday March 16th, 2017   •   Posted by Craig Eyermann at 6:37am PDT   •   1 Comment

Before he became president, Donald Trump perhaps made his biggest impression on Americans in his role on the reality TV game show The Apprentice. Today, with the release of the president’s so-called “skinny” budget, he looks to be in the starring role for a government-version of The Biggest Loser. Reuters reports on President Trump’s…
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The Debt Ceiling and the Skinny Budget


Monday March 13th, 2017   •   Posted by Craig Eyermann at 6:34am PDT   •   2 Comments

For the U.S. national debt, the date of March 16, 2017, marks the day when the statutory debt ceiling, which limits how much money the U.S. government can borrow, will go back into effect for the first time since it was suspended back on November 2, 2015, as part of former President Obama’s last…
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Inside a Bad Debt Deal


Tuesday October 27th, 2015   •   Posted by Craig Eyermann at 10:15pm PDT   •   0 Comments

In 2011, U.S. House of Representatives Speaker John Boehner realized the most significant achievement of his entire career in the U.S. Congress when he reached a deal with the White House to restrain the growth of U.S. government spending: the Budget Control Act of 2011. Here, using the leverage of the threat of not…
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Federal Double Standard on Debt


Monday January 26th, 2015   •   Posted by K. Lloyd Billingsley at 5:09am PST   •   1 Comment

“People who owe old debts to the Social Security Administration are getting a reprieve this tax season,” explains Fox News. “The federal government won’t be seizing their tax refunds.” Before anybody starts celebrating, that requires some clarification. As we noted, the “debts” in question are highly dubious. Mary Grice, now 58, was four years…
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The National Debt Made Simple (Presidential Edition)


Saturday September 21st, 2013   •   Posted by Mary Theroux at 12:15pm PDT   •   0 Comments

With the national debt soon to reach $17 trillion, it’s not surprising that even the President can’t quite grasp the concepts of the debt ceiling and our national debt (see: “Raising the Debt Ceiling … Does Not Increase Our Debt“)—numbers this size are notoriously difficult for any of us to accurately conceive. That’s why…
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What, Me Worry?


Sunday April 7th, 2013   •   Posted by Burt Abrams at 6:01am PDT   •   17 Comments

There are two disparate views of our large and growing public debt. Nobel Laureate Paul Krugman, in a recent International Herald Tribune editorial “Cheating America’s Children” (March 30-31, 2013), considers those who have been worrying about our burgeoning public debt as “Chicken Littles.” Chicken Little, you may recall, is hit in the head by an acorn and subsequently runs about…
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Federal Government Debt Undermines the Programs It Finances


Wednesday January 23rd, 2013   •   Posted by Randall Holcombe at 9:08am PST   •   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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Don Boudreaux on Public Debt


Tuesday March 27th, 2012   •   Posted by Emily Skarbek at 7:33am PDT   •   2 Comments

Readers of MyGovCost will likely be interested in this week’s Econtalk podcast with Don Boudreaux on the nature and significance of public debt. Roberts and Boudreaux begin by discussing debt at the household level and then work to draw out which lessons apply to the spending of a federal government. In doing so, the…
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Fiscal Discipline?


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