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Archive for June, 2015

Puerto Rico’s Debt Clock Runs Out of Time

Tuesday June 30th, 2015   •   Posted by Craig Eyermann at 6:15am PDT   •   2 Comments

Back in December 2013, we featured a chart that showed how much debt per resident that Puerto Rico had accumulated. It also showed that Puerto Rico was second only to Detroit, Michigan, which had back then recently declared bankruptcy. Here is what we said at the time: Considering Puerto Rico’s situation, in the absence…
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Failed TSA Confirms No Bureaucracy Left Behind

Monday June 29th, 2015   •   Posted by K. Lloyd Billingsley at 11:07am PDT   •   0 Comments

Summer travelers know that the Transportation Security Administrative troops, drill sergeants decked out in Jiffy Lube blue shirts, do a bang-up job of making air travel more miserable than it should be. As they take off their shoes and belts, travelers may also know that the TSA is a miserable failure at its appointed…
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The Consequences of a Large and Growing National Debt

Thursday June 25th, 2015   •   Posted by Craig Eyermann at 6:42am PDT   •   4 Comments

What are the consequences of a large and growing national debt? Believe it or not, the Congressional Budget Office directly addressed that question in its 2015 Long-Term Budget Outlook: How long the nation could sustain such growth in federal debt is impossible to predict with any confidence. At some point, investors would begin to…
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Replacing the National Debt with Equity

Wednesday June 24th, 2015   •   Posted by Craig Eyermann at 7:19am PDT   •   0 Comments

What if, instead of borrowing money to sustain its spending, the U.S. government instead sold equity shares of the future performance of the U.S. economy? Evan Schulman, the president and founder of Tykhe LLC, who received a patent in 2006 for his concept of sales participation certificates — a way for businesses and other…
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High Court Slams Government Raisin Ransacking

Tuesday June 23rd, 2015   •   Posted by K. Lloyd Billingsley at 10:34am PDT   •   0 Comments

As we noted, Big Government has been colonizing economic activity through schemes such as the Agricultural Marketing Agreement Act of 1937. This New Deal act, based on the notion that central planning works, set up cooperative boards and conscripted growers into reserve set-asides. This meant that Fresno raisin growers Marvin and Laura Horne, like…
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Failing Up

Saturday June 20th, 2015   •   Posted by Craig Eyermann at 4:35pm PDT   •   0 Comments

First, the news from the Los Angeles Times: Peter Lee, the executive director of Calfornia’s Affordable Care Act exchange, after receiving a big raise this past February, is now getting a big bonus and another raise: California’s Obamacre exchange awarded its executive director a $65,000 bonus Thursday four months after giving him a 24%…
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Bullet Train Is Slow-Speed Boondoggle

Wednesday June 17th, 2015   •   Posted by K. Lloyd Billingsley at 9:51am PDT   •   2 Comments

We have been keeping track, so to speak, of California’s vaunted “Bullet Train,” officially the state’s High-Speed Rail project. But as it turns out, “high speed” is something of a misnomer, as William Bigelow notes on Breitbart. The first actual construction on the project is a viaduct over the Fresno River, nowhere near the…
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The New Long Term Outlook for the National Debt

Wednesday June 17th, 2015   •   Posted by Craig Eyermann at 6:30am PDT   •   0 Comments

According to the latest projections issued by the Congressional Budget Office, the publicly-held portion of the U.S. national debt will rise from 74% of GDP at present to surpass 107% of GDP in 25 years. Bloomberg‘s Kasia Klimasinska describes the CBO’s findings: U.S. government debt held by the public is expected to rise to…
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Rip the Bandages Off Faster

Saturday June 13th, 2015   •   Posted by Craig Eyermann at 10:58am PDT   •   1 Comment

After a government gets into trouble for racking up unsustainable levels of debt, how fast should it go about restoring its fiscal credibility? Should it seek to lessen its fiscal “pain” by spreading out spending cuts over a long period of time, or should it, in effect, rip the bandages off as quickly as…
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Which Is Bigger: The National Debt or All Other Debt?

Thursday June 11th, 2015   •   Posted by Craig Eyermann at 6:27am PDT   •   0 Comments

The question came up of which is bigger — the U.S. national debt or all other debt owed by Americans? The answer, as best as we can determine with data through the end of 2014, is graphically presented below: At the end of 2014, the total public debt outstanding for the U.S. government stood…
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