In a Wall Street Journal interview about fiscal cliff negotiations House Speaker John Boehner quotes President Obama: “We don’t have a spending problem.” While the President often says the word “cuts” at his campaign style media events, his next words usually are “so we can make investments in…” It’s hard to avoid the conclusion that […]
The corrupt, profligate spenders won. The media cheered, The People lost. The President and his media allies didn’t talk much about why America faced the so-called fiscal cliff. This chart shows why there is such acrimony in Congress. It took 22 years, from 1986 to 2008 for government debt owed to the public to rise […]
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 […]
Facing voters who are anxious about the government’s unprecedented deficits and debt President Obama seeks to portray himself – falsely – as a spending cutter. He and the Democrats have decided it’s time to focus on the military budget. Their campaign rhetoric is familiar: “The growing deficits are caused by ever increasing cost of the […]
Since the beginning of his campaign in 2007 President Obama, always looking for an excuse for a tax increase, has blamed government deficits on the Iraq and Afghanistan wars, claiming the were “not paid for.” But he apparently changed his position in his State of the Union address. The government has run deficits every year […]
Columnist Paul Krugman is the theologian of the progressive movement, providing a patina of academic legitimacy to economic policies with fancy names that simply seize income and resources from some citizens in order to transfer them to others. Krugman published a column on New Years Eve called “Keynes Was Right” wherein he argues – […]
The so-called Congressional Super Committee failed to reach a deficit reduction agreement even though success was absurdly easy: simply adjust the “baseline” schedule of future spending by $1.2 trillion over ten years, beginning in 2013. Put another way, all they had to do was change the currently scheduled $44+ trillion of spending over ten years […]
One would never know it from all the anguish expressed by the political-media establishment, but the Congressional Super Committee’s assignment is absurdly easy. This week the august Senators and Congressmen head into their final, dramatic days of deliberations. Their assignment is to propose $1.2 trillion of “deficit reduction” over ten years, beginning 2013. In Washington […]
We’ve been through almost a year of dramatic and acrimonious political debate about the government’s deficit, and it isn’t over yet. Much of the political media establishment has been suffering fits of anguish over alleged “austerity” and “deep cuts” being inflicted upon the defenseless government by Republicans, driven by those terrible Tea Party activists. But […]
President Obama and his media supporters called the debt-ceiling controversy “broken politics.” But through the intense debate The People became better informed and aware of the sudden increase in debt caused by Obama’s spending surge. The chart tracks polling results as the White House contrived at least 21 media events over 72 days to […]
