Tag Archives: deficit

U.S. Debt as a Household Budget

Worth repeating: Debt ceiling debate in a nutshell … or two * US Tax Revenue. $2,170,000,000,000 Federal Budget. $3,820,000,000,000 Deficit. $1,650,000,000,000 National Debt. $14,271,000,000,000 Recent budget cuts. $38,500,000,000 Now, let’s remove 8 zeroes from the above, and use it as … Continue reading

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“Scariest Chart Ever”

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S&P Downgrade of US Debt

To add to what WizardPC said last week. They said if we didn’t pass the stimulus, unemployment would go above 8%. We passed the stimulus. Unemployment is above 9%. They said if we didn’t raise the debt ceiling, the stock … Continue reading

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More Evidence There’s No Multiplier for Government Spending

The Market Ticker – The Strategy That Has NEVER Worked What is this chart? Why, the history of our idiocy. It’s quite simple; this is the multiple that each dollar of debt (anywhere in the economy)has returned in GDP looked … Continue reading

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Mister, we could use a man like that Ross Perot again

Reason – Did We Say $38 Billion in Cuts? How Does $14 Billion Sound? So instead of the puny 2% Republican cuts or the puny 1% Democrat cuts, we’re getting accounting gimmicks and 1/3%. The last time we had a … Continue reading

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Jack Daniels Explains The Deficit

The proposed deficit cuts explained with whiskey and shot glasses:

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Your Daily Economic Nut Punch: the Deficit

Reason – The President’s Brain is Missing! (When it Comes to the Budget) President Barack Obama’s 2012 budget proposes to spend $3.48 trillion on everything except interest on the national debt. That’s a 7 percent increase over what the government … Continue reading

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Day after MA special election: Democrats propose $1.9 trillion debt increase

Ass. Press – Democrats propose $1.9T increase in debt limit: WASHINGTON Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt … Continue reading

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10 year deficit raised $2 trillion

Zero Hedge – Long-Term Budget Deficit Revised, Now $2 Trillion Dollars Worse: White House budget review set for release Aug. 25 will show cumulative deficits over the next decade amounting to $9 trillion, up from $7.1 trillion that the administration … Continue reading

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California’s farce continues towards its final act

Courthouse News – California won’t accept its own IOUs for payment: SAN FRANCISCO (CN) – Small businesses that received $682 million in IOUs from the state say California expects them to pay taxes on the worthless scraps of paper, but … Continue reading

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Deficits climbing

$188 billion in deficits in July alone. Geithner asks Congress to raise deficit ceiling as 12.1 trillion dollar limit approaches.

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Veterans angry about Obama’s insurance proposal (UPDATED)

Obama wants private insurance companies to cover service-related injuries for military veterans. The American Legion is strongly opposed to the plan: Commander Rehbein reiterated points made last week in testimony to both House and Senate Veterans’ Affairs Committees. It was … Continue reading

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Weren’t you guys the fiscally responsible ones back when?

We need a new Ross Perot to convince voters that enormous government deficits are a bad thing and not just when the other party is in power. Hat tip to tgirsch.

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