President Obama finally admitted the truth about the spending cuts mandated by his sequester as he officially signed off on them on Friday, March 1, 2013: http://youtu.be/S3qZ811q1xs That comment almost completes the President’s change in tune from the kinds of claims he was making just 9 days earlier. However, much as it takes time…
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We recently noted that gasoline prices are up 75 cents since December and motorists in southern California are now paying as much as $6 a gallon. But Golden State motorists will soon be paying even more, “no matter what market forces do,” as one report puts it, because California’s State Board of Equalization just…
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Watch the following YouTube video and see if you can notice a change in President Obama’s tune with respect to the long-dreaded budget cutting “sequester”, which is supposed to go into effect today: We wonder what changed the President’s mind on supporting his own proposal to impose the automatic budget cuts that are taking…
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Wall Street cash bonuses for 2012 could rise 8 percent to a grand total of $20 billion according to the Wall Street Journal, in an industry where the average salary is $362,900, higher than before the financial crisis began. Those who bagged the fat bonuses are doubtless popping the bubbly and heading for the…
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As Thomas Sowell has pointed out, politicians like to spend money on government pensions, for obvious reasons. It reinforces their professional ruling-class status, they are spending other people’s money on themselves, and the spending comes down the line in the future. But in a lingering recession and shrinking economy, articles like this are starting…
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If the looming sequester cuts to the federal government’s spending were a real threat to the U.S. economy, who would be complaining the loudest? There’s only one correct answer to that question: U.S. companies and corporations. The reason why is because they are the ones who would be most impacted by the negative effects…
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Lawyers are beginning to complain about California’s cuts to the court system, one of “the hardest hit arms of government during the recession” with revenue “slashed by $1.1 billion over the last five years – an agonizing 30 percent cut since 2007” according to Brian Kabateck, president of Consumer Attorneys of California. As a…
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At what point does the size of a country’s national debt begin to weigh down the growth potential of its economy? Previously, the threshold at which that happened was believed to be when a country’s national debt reached 90% of its annual Gross Domestic Product (GDP), which is based on the historic research of…
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Gasoline prices are up 75 cents a gallon since December and now double what they were when President Obama was inaugurated. Motorists in southern California are already paying more than $5 a gallon and prices are headed resolutely skyward. What could be the reason? First, understand that soaring gasoline prices are not due to…
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Like the proverbial poltergeists from a certain sequel to an 80’s horror flick, former co-chairs of the national debt commission that President Obama chartered to create a plan to balance the federal government’s budget, Erskine Bowles and Alan Simpson, have returned with an updated plan to raise $600 billion in taxes by closing “loopholes”…
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