Based on a new study from the Congressional Research Service (CRS), Chris Gonsalves at NewsMax reports in “What Debt Crisis? Fed Workers Making More Than Governors” that: At a time when many American workers are struggling to make ends meet and government debt is threatening to undermine economic recovery, thousands of federal employees are…
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Terence Jeffrey reports at CNSNews.com that “China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills” over a 20-month period. Is this a major reflection of the increasingly precarious status of the U.S. dollar and U.S. government finances worldwide? China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing…
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In the Washington Post, Lori Montgomery and Paul Kane report that with strong public support and White House opposition, the “House rejects proposal to raise debt ceiling” by voting down a measure that would raise the national debt ceiling by 16.8% from the current $14.3 trillion to a whopping $16.7 trillion. With an August…
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Here is a great video presentation on the gigantic growth of Big Government federal spending and debt in the United States and its impact on the average America:
In a new agreement reported by William Boston in the Wall Street Journal, “Want to Buy a Piece of a Greek Island?”, the government of Greece is taking steps to sell off and privatize a small amount of its enormous holdings of government-owned property. Will this properly begin the process of divesting to the…
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In “Mediscare: The Surprising Truth,” Thomas Savings and John Goodman discuss in the Wall Street Journal the scare-mongering campaign by the Obama administration regarding ObamaCare and Medicare, and then provide positive reform directions based on creating tax-free, private, health care accounts providing choice: The Obama administration has repeatedly claimed that the health-reform bill it…
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In “Stimulus price tag once again lurches higher,” Stephen Dinan reports in the Washington Times that according to the Congressional Budget Office, the cost of Obama’s “economic stimulus” package (American Recovery and Reinvestment Act of 2009 or ARRA) has now risen by another $40 billion. Congress’s chief scorekeeper said Wednesday that the price tag…
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Jed Graham in Investor’s Business Daily reports that a new study of the financial condition of Social Security and Medicare indicate that with baby boomer retirements, rising health costs, and the ongoing economic malaise, these federal entitlement programs are producing massive deficits in perpetuity unless major changes are made to cut these unsustainable liabilities….
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Independent Institute Research Fellow Emily Skarbek is interviewed here by Nick Gillespie of Reason TV regarding the Institute’s very timely and far-reaching Government Cost Calculator. The Calculator enables any American to clearly understand three aspects of federal government spending. First, the Calculator helps you determine how much a person will pay for various federal…
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Ed O’Keefe reports at the Washington Post that the U.S. government’s postal monopoly continues to hemorrhage red ink at an astounding rate as a result of huge and unsustainable, public-employee-union pension schemes: The U.S. Postal Service reported $2.2 billion in losses during its second quarter, continuing several quarters of historic losses amid declining mail…
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