Tag: "government debt"

Federal Debt Interest 2017
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Still a Bottomless Pit IV

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Why isn’t this figure newsworthy?

Federal Debt Interest
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Still a Bottomless Pit III

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Why isn’t this figure newsworthy?

Federal Debt Interest 2015
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Still a Bottomless Pit II

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Isn’t this number newsworthy?

21st-Century Federal Debt Interest
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Still a Bottomless Pit

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Shouldn’t this figure be newsworthy?

Bottomless Pit: Interest Paid on the Federal Debt
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Bottomless Pit: Interest Paid on the Federal Debt

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A number you never see on the nightly news.

Alexander Hamilton Quote
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An Historical Aside on the Debt Ceiling

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The Confederation Congress could not tax, but it could borrow.

Social Security Trust Fund
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SSA: Say What?

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Who’s zooming whom?

Broken Piggy Bank
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The Path To Prosperity Or Bankruptcy? Staggering Facts On America’s Rising Debt

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Real government spending has increased almost twice as fast as government revenue.

We Need to Stop Eating the Marshmallows
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We Need to Stop Eating the Marshmallows

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It seems there might be a lesson here for America.

Michigan's governor Rick Snyder and Detroit's emergency manager Kevyn Orr
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In my Native City of Detroit, Atlas Has at Long Last Shrugged

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You had better restrain government so that Atlas doesn’t shrug where you live.

Hey, Big Spenders
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Hey, Big Spenders

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I don’t know who they are, but I’ve got to hand it to them. I’m too cynical to do what they do! I speak of the Americans who, every year, donate money to pay down America’s national debt. The Bureau of the Public Debt — part of the Treasury Department — began allowing such donations […]

Sandy Hook Elementary School, 12/14/2012
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Sandy Hook: the View from Mars

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This week, in the wake of the massacre at Sandy Hook, we’ve been hearing it over and over again, even more than we do at other times: children are precious, we say. They’re our most valuable natural resource. Indeed, Tim Beamer, a cousin of Dawn Hochsprung, late principal of Sandy Hook Elementary School, was quoted […]

Does Paul Ryan Want to Take Medicare Away From Seniors?
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Does Paul Ryan Want to Take Medicare Away From Seniors?

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A year ago, opponents attacked Rep. Paul Ryan (R-Wis.), claiming that his plan to reform Medicare would kill grandma by taking away her benefits. Mitt Romney, who, of course, has chosen Ryan as his running mate, is proposing similar changes to Medicare. Does Ryan want to gut Medicare? To the contrary, Ryan’s intention is to […]

A Whiff of Privatization
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A Whiff of Privatization

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Three decades ago, Prime Minister Margaret Thatcher implemented a policy called “privatization” to rejuvenate the moribund economy of the United Kingdom. Like the United States today, the cost of a too-large government was sapping the vitality of the U.K.’s economy. The private sector was staggering under the heavy tax burden needed to fund the public […]

Gradually, Then Suddenly
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Gradually, Then Suddenly

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It is not often that one sees Ernest Hemingway cited in an article on the federal budget and fiscal situation. But that is what GOP House Budget Chair Paul Ryan (R-WI) and Senator Jeff Sessions (R-AL), ranking member of the Senate Committee, did in a recentWashington Post op-ed on President Obama’s last budget of his first term. […]

Short-Lived Euphoria in Europe
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Short-Lived Euphoria in Europe

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Thursday, Oct. 27, 2011, was a giddy day for European politicians and global investors. European Union officials announced a plan for addressing the EU’s worst financial problems. There would be a partial write-down of Greek sovereign debt—a 50 percent haircut for private bondholders, but no haircut for governmental creditors (the political class looks after its […]

It’s the Spending, Stupid: A Crucial Historical Look at Federal Spending
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It’s the Spending, Stupid: A Crucial Historical Look at Federal Spending

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We have failed to heed the lessons of economic history, with terrible consequences for our economy and country. And the most crucial of those lessons, particularly since the start of LBJ’s Great Society, is this: deficits have been caused not by a lack of income-tax increases but by recession and, most of all, by excessive […]

One More Reason the Out Years are Too Late
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One More Reason the Out Years are Too Late

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Here’s a fact that was not lost on my teenage daughter: The infamous debt-ceiling deal doesn’t actually reduce much of our debt until she finishes high school, graduates from college, and has potentially purchased a minivan and a pair of mom jeans. Did I mention she’s just about to start ninth grade? “Wait,” my daughter […]

Big Deal or No Big Deal?
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Big Deal or No Big Deal?

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As the August 2 deadline for a debt-ceiling deal drew near, many expected a big deal that would significantly change the direction of federal fiscal policy. After weeks of tumultuous negotiations, partisan bickering, and impassioned histrionics, the agreement that finally emerged was, to put it bluntly, no big deal. Ironically, the most accurate assessment I […]

<em>In</em> the World or <em>Of</em> the World?
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In the World or Of the World?

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One can hardly turn on the radio or the TV without hearing the melodrama being played out in Washington DC around the Federal Budget. Well, I guess it is not so mellow. There are no simple answers, there are no immediate cures. As is true in any question in life, there are two sides to […]

Distributism and the Health Care System, Part 1: Free Market Confusions
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Distributism and the Health Care System, Part 1: Free Market Confusions

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Distributism would be of little practical use if it could not provide useful answers to practical problems of the type we face practically everyday. I believe distributism does indeed provide a useful set of tools to analyze these problems and to devise useful solutions. But the proof of this claim can only come in the analysis of […]

Debt, Finance, and Catholics
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Debt, Finance, and Catholics

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Debt and deficits seem to be on everyone’s minds these days. Whether it be worries about the American government’s fiscal woes, Europe’s fragile banking system, or the debt-as-a-way-of-life culture that disfigures so many lives, many people are seeking guidance about how to release ourselves from this mess with our souls intact. In this regard, Catholics […]

Size Matters
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Size Matters

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The current deficit and debt ceiling negotiations happening in Washington represent politics at their worst – politics on steroids.  Amidst the posturing and prevaricating, however, one conservative has emerged with a legitimate plan to liberate America from its bondage of debt.  This week, Senator Tom Coburn released a 600-page plan that would reduce the deficit […]

My Congressman's Tough Job
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My Congressman’s Tough Job

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Being a congressman can be a great job. It can be attractive for someone who relishes the ersatz virtue of playing Santa Claus with other people’s money, who finds a year-round routine of fund-raising social events enjoyable, and who covets receiving one of the most generous pensions on the planet. It can also be a […]

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