Did the S&P 500’s downgrade of the U.S. government’s credit rating change how investors view the risk of default in the United States? Better still, what events during the past several years coincide with changes in the risk of the U.S. government defaulting on the debt it issues? We can answer these questions by…
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President Barack Obama’s health care law that requires individual citizens to buy health insurance is unconstitutional. Although the court did not strike down the rest of the health care policy, the decision is a major blow to the Obama administration, which appealed a lower court ruling by U.S. District Judge Roger Vinson, who ruled…
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In his incisive new article in the Wall Street Journal, “Three Simple Ways Medicare Can Save Money,” John Goodman notes that: The most significant reason for our out-of-control deficit spending is health care. And the biggest federal health-care program is Medicare. That’s why almost everybody—on the right and the left— agrees that Medicare must…
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Here is a great new video from Gold Resource Corporation, “Gold: Independent Money,” on the governmental abandonment of gold-backed money and the resulting runaway spending, wars, and debt we face today.
The Economist had a thing or two to say about the debt deal that was reached this week. The article “Nuts and bolts” asserts: As for long-term fiscal consolidation, the deal also falls short. Total deficit reduction of $2.4 trillion is less than the $4 trillion that bipartisan groups and political leaders had more…
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How has the projected future of spending for the U.S. government changed as a result of the recent debt deal in Washington D.C.? Stanford University’s John Taylor put together the following chart to illustrate the effect the two-part planned spending reductions that are called for in the just passed Budget Control Act of 2011…
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After late night phone calls and negotiations lasting well into the evening hours, President Obama announced late Sunday night that a deal was reached on the debt ceiling crisis with Congressional members of both parties. As the deadline of August 2nd loomed over the halls of Congress, leaders promised to present the compromise to their caucuses on Monday…
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Assuming that the current U.S. debt crisis began in 2008, which is more responsible for the current U.S. government debt crisis: excessive government spending or too big a fall in government tax receipts? We present the answer using data from 1967 through 2010, graphically, below: At its peak in 2009, we find that the…
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In a speech to the Libertarian Party in Indianapolis, Michael Munger gives three things the government has to do to deal with the debt crisis: 1. Cut defense spending by by at least 15%. More than 15% — even better! 2. Sell US bonds in the Social Security trust fund. Also raise the Social…
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This article I found in “The Moral Liberal” discusses how the government takes on pet projects and decides to invest on behalf of it’s taxpayers. The article asserts an example of the business Solyndra Inc. which is ironically is located near The Independent Institute’s headquarters. The government’s “investment” in green energy startup Solyndra Inc. is a…
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