The Fiscal Cliff is a Symptom of The Debt Cliff

A casual consumer of “news” might perceive the so-called fiscal cliff as nothing more than a debate about whether or not “millionaires and billionaires” (defined as annual income of $250,000 or more) will be “asked to pay a little more.” The “news” rarely provides background to to answer the question, why are we on the […]

Deficit Flim Flam: Claim Cuts But Spend More

Much of the political-media establishment’s “information” about massive government deficits and fiscal cliff negotiations is deception made possible by the arcane budgeting process in Congress.  President Obama didn’t invent the process.  But he’s an enthusiastic practitioner of the deception. [continued below the chart]While most of the “news” bout fiscal cliff negotiations has been about tax […]

Jobs: Political Happy-Talk Vs Grim Reality

The Obama Administration and its media friends proclaim good news without disclosing that it masks bad news. “The Employment Emergency is Over,” announced Reuters News Service when the December Jobs report was published.  The White House bragged: …the unemployment rate declined from 7.9 percent in October to 7.7 percent in November, the lowest since December 2008. But it […]

It’s The Spending, Stupid

During weeks of post-election campaigning and economic debate in Washington the political-media establishment has simply ignored the the real cause of the government’s monstrous deficits and rapidly growing debt. After years of refusing to deal with relentless growth in federal spending Congress and the President have dragged us to the Fiscal Cliff, a nickname for […]