Politicians have seen to it. “There is precedent for a government shutdown,” Lloyd Blankfein, the chief executive officer of Goldman Sachs, remarked last week. “There’s no precedent for default. How wrong he is. The U.S. government defaulted after the Revolutionary War, and it defaulted at intervals thereafter. Moreover, on the authority of ... MORE
Showing posts with label debt ceiling. Show all posts
Showing posts with label debt ceiling. Show all posts
James Grant: America's Default On Its Debt Is Inevitable
Politicians have seen to it. “There is precedent for a government shutdown,” Lloyd Blankfein, the chief executive officer of Goldman Sachs, remarked last week. “There’s no precedent for default. How wrong he is. The U.S. government defaulted after the Revolutionary War, and it defaulted at intervals thereafter. Moreover, on the authority of ... MOREDebt Ceiling Lifted; Government Borrowing Spree Resumes
by J.D. Tuccille. When Congress saved America from the perilous clutches of a
federal government compelled to live within its means without
running up the credit card, it came up with a doozy of a deal. From
now until February 7, 2014, the U.S. Department of the Treasury can
borrow as much as it pleases. Jack Lew and company aren't ... MORE
Ronald Baily: The Morning After America's Debt Binge
The hangover will likely last two decades. President
Barack Obama is adamant that he will not be held “hostage” by the
Republicans in the House of Representatives, who are threatening
not to raise the U.S. debt ceiling without some concessions on
future spending and Obamacare. If the debt limit is not raised,
allowing the Treasury ... MOREPeter Schiff: Debt Ceiling Delusions
Debt accumulation does not equal economic growth. The popular take on the current debt ceiling stand-off is that the Tea Party wing of the Republican Party has a delusional belief that it can hit the brakes on new debt creation without bringing on an economic catastrophe. While Republicans are indeed kidding themselves ... MOREJohn Stossel: Shutdown Theater
This is where you come in. Government wants you to play a role in the "shutdown" of the federal government. Your role is to panic. Republicans and Democrats both assume that shutting some government is a terrible thing. The press concurs. "Shutdown threatens fragile economy," warns Politico. "Federal workers turn to prayer," ... MORELee Cary: The Black Swan In The Perfect Storm.
The Black Swan is Arithmetic. She is coming and she is already here. In Detroit, you see her in the debris of a once great American city. The Perfect Storm is the confluence of events that will wreak economic havoc on America. It need not have anything to do with the current debt ceiling controversy. Most don't see it coming. For them, it will ... MOREGeorge Will Compares ObamaCare To Fugitive Slave Act
Bad laws can be changed. Conservative columnist and pundit George Will on Wednesday compared Obamacare to the Fugitive Slave Act and segregation to demonstrate the "bruising, untidy, utterly Democratic" process of changing laws. In an interview with NPR's "Morning Edition," host Steve Inskeep asked Will about President Barack Obama's ... MOREFOX NEWS POLL: Majority Against Raising Debt Ceiling
But politicians LOVE to spend. Soon Congress will have to vote on raising the nation’s debt limit so the federal government can borrow more money to make good on its spending commitments. If it were up to the American public, they would vote no -- with a majority saying the debt limit should only be raised after major spending cuts have been ... MOREAmy Payne: Ready For Another Increase In The Debt Limit?
Obama's debt ceiling raises have cost families $43,000. Did you know that since President Obama came into office, the debt limit has been raised seven times? With those increases, Congress has added $43,000 in debt for every American household in just the last four years. And now the debt limit deadline is looming again. Treasury will ... MORELouis Woodhill: Time To Bury The GOP And Start Over
Death to clueless conservatism! In his January 18 article, “Go for the Throat!”, John Dickerson, Slate’s chief political correspondent, called on President Obama to “declare war” on the Republican Party. Calm down, John. There is no need for Obama to get (politically)
violent. At the national level, the Republican Party is near death
anyway. ... MORE
Betsy McCaughey: Obama Dives Over Constitutional Cliff
The president's unprecedented power grab. President Obama went over the constitutional cliff this week, demanding more power than the U.S. Constitution allows any president to have. All Americans — regardless of party affiliation — should shudder at the president's attempted power grab and say no. Compromising on taxes and ... MOREMark Steyn: The Edge Of The Abyss
American society is more liberal and statist than ever. Amid the ruin and rubble of the grey morning after, it may seem in poor taste to do anything so vulgar as plug the new and stunningly topical paperback edition of my book, After America — or, as Dennis Miller retitled it on the radio the other day, Wednesday. But the business of America is business, ... MOREJon N. Hall: What 'Every Economist' Says
Except for the ones that disagree. The expression "every economist" is one of the most widely abused in politics. In various formulations, one hears a lot of this rhetoric. You see, there's no disagreement among economists. Keynesians, Austrians, Marxists, classical economists, Rastafarians, you name it...they all say the same thing. Here are ... MORESteve Chapman: Balanced-Budget Amendment Delusion
Wrong tool to halt the growth of government. When I graduated from college in 1976, I got a job in Washington with the National Taxpayers Union, which was working to get a constitutional amendment to require a balanced federal budget. Someone graduating today could sign up there and pursue the same goal. The balanced-budget amendment has never ... MOREMark Steyn: More, More, More
What does government have in common with a porn actress? I see Andrea True died earlier this month. The late disco diva enjoyed a brief moment of global celebrity in 1976 with her ubiquitous glitterball favorite: More More More. In honor of Andrea’s passing, I have asked my congressman to propose the adoption of this song as the U.S. ... MORECharles Krauthammer: The Pipeline Sellout
Obama puts politics over nation, again. In 2008, the slogan was “Yes We Can.” For 2011–12, it’s “We Can’t Wait.” What happened in between? Candidate Obama, the vessel into which myriad dreams were poured, met the reality of governance. His near–$1 trillion stimulus begat a stagnant economy with 9 percent unemployment. His attempt at Wall Street reform left ... MOREBrian Koenig: Lawmakers Lack Economics Education
80 percent have no background in business or economics. While U.S. lawmakers wrestle with high unemployment and a mounting federal deficit, 80 percent of them have no academic background in business or economics, according to a new study by the Employment Policies Institute (EPI). The study found that only 8.4 percent of U.S. lawmakers majored ... MORE
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