California Gov. Jerry Brown on Sunday said California would start a tax-increase wave across the nation, but recent history suggests California’s tax increases will only accelerate the number of people who will leave California to other states with better tax climates. When asked whether California was going to start a “tax-increase sweep” across the nation on CNN’s […]
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 The night before, House Speaker John A. Boehner had withdrawn from negotiations to raise the $14 trillion federal debt limit […]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 […]
On Friday, Bloomberg News reported another embarrassing fact about the recently completed Democratic National Convention: it operated at a $15 million deficit. In a move certain to raise eyebrows at the Federal Election Commission, $10 million of that deficit was covered by a temporary line of credit from Duke Energy Corporation. Even with that borrowed […]
SOCIALIST TYPE GOVERNMENTS HAVE RESULTED IN A LOSS OF FREEDOM AND VERY HIGH TAX RATES IN THE EUROPEAN UNION: WILL THIS BE AMERICA’S FUTURE TOO? Have you ever wondered what the real cost of those proposed socialist programs are going to be – once most of the programs of the Democrat-Socialists are fully implemented in […]
By Craig Steiner Time and time again, anyone reading the mainstream news or reading articles on the Internet will read the claim that President Clinton not only balanced the budget, but had a surplus. This is then used as an argument to further highlight the fiscal irresponsibility of the federal government under the Bush administration. […]
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 […]
Although treaties forbid ownership, the powerful nation would have little resistance when laying claim to lunar resources. Within about 15 years, China could have a permanent presence on the moon, and be laying claim to its resources. There may not be anything the United States, hobbled by debt and politically polarized, can do to stop […]
From 1900 to 1940, the Chinese Government issued millions of dollars in sovereign debt – most notably, a large tranche of £25,000,000 issued at 5% in 1913 set to mature in 1960. This massive bond funded the modernization of China’s infrastructure and was widely acquired at the time by governments, banks, and investors across the […]
Last week, the Senate Budget Committee Republican staff released a report revealing that, over the next 75 years, Obamacare will add an additional $17 trillion in unfunded obligations—i.e., the benefits promised by the federal government that haven’t yet been paid for. Before Obamacare, federal programs were already responsible for racking up 75-year unfunded obligations of […]
