Blog Archives

Bloomberg: Deficit Reduction “Victory Lap” Was Premature!

Obama-money

Any deficit reduction victory will soon be forgotten amid a national debt crisis. A few days ago Bob Allen responded to Secretary of the Treasury Jack Lew’s “victory lap” over the historically small deficit. You know you’re doomed when your

Posted in Debt, Spending Tagged with: ,

The National Debt Keeps Piling Up, But Government Boasts

obama-tuxedo

Record taxes mean that the Feds “only” added a half-trillion dollars to the national debt this year. Let’s celebrate? You know you’re doomed when your Secretary of the Treasury takes a “victory lap” simply because the Federal Government devoured an

Posted in Debt, Spending, Taxes Tagged with: , , ,

Do Lower Energy Prices Have a Downside?

obama big oil

Technically the answer to that question is yes. Lower energy prices have a downside for people who make more money from higher energy prices. Just like tailors suffered when the sewing machine was invented, or harvesters lost their income when

Posted in Debt, Economics, Economy, Energy Tagged with: , ,

Federal Addiction to Short-Term Debt Will Not End Well

money swirl

Short-Term Debt Means a Sudden Rise in Interest Rates Will Crush Us. The short-term picture looks deceptively stable. The long-term picture is not so good. On David Stockman’s website: “Uncle Sam’s $8 Trillion Annual Debt Churn: Why Washington Is Pertrified

Posted in Debt, Economy, Entitlements Tagged with: , ,

More Income, More Debt, Less Wealth: Student Loan Poverty

student loan bubble

In case you missed it Bloomberg.com reported at the end of last week on student loan poverty: “College Debt Leaves Generation X Grads Less Wealthy Than Parents.” Most college-educated 30- and 40-somethings earn more than their parents did at the

Posted in Debt, Economy, Education, Email Featured Tagged with:

The First Casualty of War is the Budget

pentagon cash shredder

The saying you commonly hear is that “the first casualty of war is the truth.” The saying might have originated with Samuel Johnson in 1758: Among the calamities of war may be jointly numbered the diminution of the love of

Posted in Debt, Military, Spending Tagged with: , , ,

Record Revenues for the Federal Government as Debt Grows

Corporate_taxes

The Federal government is collecting record revenues yet they still can’t balance the budget. We have a massive spending problem, buttressed by a record number of Americans willing to live off money plundered from their productive neighbors (and I include

Posted in Debt, Spending, Taxes Tagged with:

Stock Market Debt: Beware the Bear!

NYSE investor credit and the market

A picture of stock market debt is worth 1000 words—I’ll be well below that. The markets are hitting new highs. Is it because the economy is performing so well, or is there another explanation? Check out the amount of borrowed

Posted in Debt, Economy Tagged with: , ,

Tennessee Is the Un-Illinois State

tre hargett

Terrible picture, but a great “State of the State” update from Tennessee Secretary of State, Tre Hargett, yesterday in Nashville. Here’s a man who has cut his office’s budget from over $30-million per year in 2009, to $27-million today—AND, they’re

Posted in Debt, Spending, Taxes Tagged with: , , ,

L.A. Infrastructure Showing Signs of Corruption

dollar bill eye pyramid

Showing city government and city planning at its finest, L.A. infrastructure is cracking up. Bloomberg.com reports: Los Angeles is showing its age, and city officials don’t have plans for financing the facelift. From buckling sidewalks to potholed thoroughfares to storm drains

Posted in Corruption, Debt, Spending, Taxes Tagged with: , ,

One Fifth of Seniors Have Nothing Saved for Retirement; Almost One Third of Everyone Have Nothing Saved

Broken piggy bank

Twenty percent of people fifty-five years of age and older have nothing saved for retirement. Thirty-one percent of adults of all ages have no retirement savings. According to the Washington Post: The sobering statistic was one of many released by

Posted in Banks, Debt, Economy, Federal Reserve Tagged with: , ,

The Obama Economy: Over a Third of Americans Dealing with Collection Agencies

debt collectors

Just how bad is the Obama economy? Associated Press reports that, according to a study by the Urban Institute, over 35 percent of people in the United States have unpaid bills or debts that have been turned over to a

Posted in Debt, Economy Tagged with: , ,