Archives for 


Here Comes the Senate Spending Splurge

rand paul spending The coming Senate spending increase is crazy; we should be capping spending rather than spending more. Mitch McConnell promised that there would be more government spending and that seems to be happening at the time I am writing this. The Associated Press documented the Conservatives' attempt to talk sense to the Senate: The Senate is on track to pass a spending bill to prevent the government from shutting down this week, over the opposition of the most hardline conservative Republicans. Tuesday’s Read more [...] Continue reading →

New Student Loan Data Shows Government Can’t Stop College Collapse

tuition A college collapse is inevitable and the federal government might delay it but it can’t stop it from happening. Not all schools are the same and not all professors are the same. Some people just want to go college to party and get a degree as a minimal requirement for their entry into the job market. Others want to follow a rigorous path of study in order to be able to become and sell themselves as some of the best in their chosen field. So you can’t classify all education as the same. Read more [...] Continue reading →

It Costs $3 for Every $1 that the Government Benefits Someone

burning money Government benefits are basically an inefficient and overpriced way for society to make government do the charity we all should do. How much do government benefits cost? According to one economist, they cost three times the benefits bestowed on the recipients. The Washington Free Beacon reports this under an incredibly positive headline, “Federal Debt Held by the Public Totals $107,000 Per Household.” I say it is positive because a friend of mind did some counting and says that, if you account Read more [...] Continue reading →

Collecting Record Plunder but Still Adding to the Debt

cash vortex federal employees Despite an amazing amount of tax revenue in 2015, the government is still adding to the debt to the tune of $530 billion! Sometime in 2014 we started to get stories about how the deficit was “lowering.” Since the deficit is always adding to the debt of the nation, the fact that the deficit was lower one year than the year before meant nothing. The National debt keeps growing, and there is no plan to shrink it. If you tell someone their cancer is growing at a slower rate, that can be good Read more [...] Continue reading →

Mainstream Media Preps Us for Major Government Spending Increase

money dam We need to brace ourselves for more government spending by Republicans cooperating with Barack Obama. It isn’t hard to see the agenda in this Associated Press story: “Congress Returns to Weighty List of Unfinished Business.” Nowhere does this weighty list include reducing spending. The coming financial black hole is simply going to be ignored. We are supposed to forget about all that and accept that the country will fall apart if Congress doesn’t cooperate with the President and spend Read more [...] Continue reading →

CBO Predicts 2018 Will Mean Unsustainable Debt

us over cliff The CBO predicts 2018 will end a good period in American finance, but he is assuming the economy continues to recover. I expect the mainstream media, to the extent they cover the story, will spin the Congressional Budget Office report as a “glass half full” story. But the CBO predicts 2018 will be when the glass starts emptying. I think the Washington Times headline is accurate: “CBO report forecasts unsustainable debt in long term.” The economy is sluggish but growing and inflation remains Read more [...] Continue reading →

Student Welfare for Post Graduates and Universities

student loan bubble Here’s another boondoggle brought to you by our government: post graduate student welfare as loan forgiveness. Basically, public debt and/or taxpayers are being used to provide people going into professional and profitable careers a massive subsidy. Perhaps more importantly, the government sustains the college tuition bubble a bit longer by providing this subsidy. When you hear candidates try to come up with a way to give out free community college, you might get the impression that we are Read more [...] Continue reading →

Telegraph: Economic Doomsday Is Here

stock market crash The inevitable collapse of China is finally happening and with it comes economic doomsday — but we should welcome it. The Telegraph has an excellent account of what is happening in the world economy: “Doomsday clock for global market crash strikes one minute to midnight as central banks lose control.” Here is a video that illustrates the report: The article begins with an obvious whitewash: When the banking crisis crippled global markets seven years ago, central bankers stepped Read more [...] Continue reading →

More Taxes and Debt as Gov Consumes, but Spends More

tax_revenues-through_july-record-chart The government continues collecting more taxes and debt. That which is unsustainable will not be sustained. Back in September 2014, Bob Allen wrote about “Record Revenues for the Federal Government as the Debt Grows.” Sadly, the trend hasn’t stopped since then. CNS News reports, “$2,672,414,000,000: Federal Taxes Set Record through July; $17,955 Per Worker—Feds Still Run $465.5B Deficit.” The federal government raked in a record of approximately $2,672,414,000,000 in tax revenues Read more [...] Continue reading →

After Greece, Will Italy be Next?

fall-of-rome The capital of Italy is said to be on the verge of collapse. Spain or Portugal may go first, but this story in the Telegraph about the situation in Rome makes me wonder if Italy is going to be next to follow Greece despite the competition for that “honor”: “Rome is on the verge of collapse and needs urgent repair, leaders warn.” The Eternal City is facing crisis, with its administration engulfed in corruption scandals and debt, its roads scarred by pot-holes, the main airport partially Read more [...] Continue reading →

Venezuela Hyperinflation: This Is Where Socialism Goes, and So Do We

crash and burn cash Both Greece and Venezuela show us slightly different versions of the future we are being led into, but no one tries to stop it. I think the most frustrating thing about what is going on in the world right now is that we are all simply accepting that there is no other path we can travel. We are just standing in a single line to a very unpleasant crisis, with no thought of breaking out of it. Our only comfort is that other nations are ahead of us in line. That doesn’t help unless we use the Read more [...] Continue reading →

CBO Admits There is No Way to Predict U.S. Financial Crisis

fiscal cliff_02 Since I posted yesterday about one cause of our impending financial crisis, here’s another issue mentioned by the Congressional Budget Office. I have written about how using fantasy figures as the basis for pensions is sending us into a financial crisis, but there are other problems as well. Even the Congressional Budget Office is admitting to the seriousness of our situation. CNS News reports, “CBO: Debt Headed to 103% of GDP; Level Seen Only in WWII; 'No Way to Predict Whether or When' Read more [...] Continue reading →