Imagine you are working for a company that is going bankrupt, but everyone you work with and your bosses are getting pay raises. Seem absurd? Not if you work for the failing federal government, because President Obama has just decreed that Vice President Biden, members of Congress expected to decide on the “fiscal cliff”, and […]
Here is a video reminder of Obama in 2008 promising to cut the deficit in half. Obama goes on about how the USA cannot sustain the deficit spending, and that Americans were already paying the price of those deficits. Obama went on about how deficits increase the risk of another crisis as the debt rises, […]
The tax burden on the U.S. economy is already too high by historical standards and is crimping growth and hampering recovery as a result, said publisher and one-time presidential hopeful Steve Forbes. The White House and Congressional Republicans are debating a fiscal framework for 2013, with the Obama administration’s proposal calling of tax hikes on […]
The last head of state of the former Soviet Union, Mikhail Sergeyevich Gorbachev, has warned the US of an imminent Soviet-like collapse if Washington persists with its hegemonic policies. Speaking at a Thursday conference on the future of the Middle East and the Black Sea region in the Turkish city of Istanbul, Gorbachev […]
The former president of the Federal Reserve Bank of New York and current Treasury boss Timothy Geithner has informed Republicans that Obama wants absolute authority to increase the national debt. Geithner’s proposal was met with derision and laughter by Republicans. “Well, it’s outrageous,” Sen. John Cornyn (R-Texas) told Fox News when asked about Obama’s plan […]
A Census report signals that for much of America, the economic downturn has produced not one lost decade but two. But the data also show that federal safety-net programs helped keep people out of poverty. The typical US household saw its income fall last year to 1989 levels. That news, contained in a US Census […]
Inside story of Obama’s struggle to keep Congress from controlling outcome of debt ceiling crisis By Bob Woodward President Obama summoned the top four congressional leaders to the White House on Saturday morning, July 23, 2011. The night before, House Speaker John A. Boehner had withdrawn from negotiations to raise the $14 trillion federal debt limit […]
(Reuters) – German Finance Minister Wolfgang Schaeuble questioned on Tuesday how the United States could deal with its high levels of government debt after November’s presidential election. In a speech to the Bundestag lower house of parliament to open a debate on the 2013 German budget, Schaeuble said worries about U.S. debt were a burden […]
The nonpartisan Congressional Budget Office (CBO) on Wednesday warned the economy will enter a recession next year if the country goes over the so-called fiscal cliff. In its most dire warning yet about the fiscal cliff, the CBO said the economy would contract by 0.5 percent in calendar year 2013 if the George W. Bush-era […]
The U.S. government has stolen $15,876,457,645,132.66 from future generations of Americans, and we continue to add well over a hundred million dollars to that total every single day day. The 15 trillion dollar binge that we have been on over the past 30 years has fueled the greatest standard of living the world has ever […]
