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Tag Archives: deficits
Right-sized Government
Mark Steyn – Kindly Note the Impending Bankruptcy: My Gallic charmer is on to something. According to the most recent (2009) OECD statistics: government expenditures per person in France, $18,866.00; in the United States, $19,266.00. That’s adjusted for purchasing-power parity, … Continue reading
Too Much Debt
Zero Hedge – The Breakdown Draws Near: There are two entirely, completely, utterly different narratives at play here. One of them is that the economy is recovering, policies are working, and the vaunted consumer is either back in the game … Continue reading
I Completely Agree with Barack Obama on the Debt Ceiling
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend … Continue reading
Economic Nutpunch: Japanese Debt
Mish: The situation in Japan is so dire that if interest rates were to rise to a mere 3%, interest on the national debt would consume all revenues. That sure seems like a lot of risk to me. That debt … Continue reading
Economic Nutpunch – Federal Mandatory Spending Now Exceeds Federal Revenues
Weekly Standard – Mandatory Spending to Exceed all Federal Revenues — 50 Years Ahead of Schedule: We have now gotten to the point — as I noted yesterday — where if national defense, interstate highways, national parks, homeland security, and … Continue reading
Normal Interest Rates Would be a Disaster for U.S. Debt
“The Most Predictable Economic Crisis in History”: If fewer people are willing to lend us money, the more we’ll have to shell out in higher interest payments. And if bond buyers lose confidence in our ability to make good on … Continue reading
Bonus 2011 Deficit FAQ: Why is the Federal Reserve buying U.S. Treasuries?
“An abundance of money which would lower the interest rate to two per cent would, in reducing the financing costs of the debts and public offices etc., relieve the King.” – John Law, Controller General of Finances of France, 1720 I … Continue reading
Frequently Asked Questions About the 2011 Deficit
What’s the expected 2011 U.S. budget deficit? $1.5 trillion What percent of the 2011 budget is that? 40%. So out of every 10 dollars the government will spend this year they’ll get 6 from tax revenues. They have to borrow … Continue reading
In Bizarro World Bankruptcy Am Good
Zero Hedge – 32 States Now Officially Bankrupt: $37.8 Billion Borrowed From Treasury To Fund Unemployment; CA, MI, NY Worst: Courtesy of Economic Policy Journal we now know that the majority of American states are currently insolvent, and that the … Continue reading
U.S. issued $7 trillion in debt for 2009 fiscal year
The federal fiscal year ends September 30. It’s now estimated the U.S. issued $7 trillion in debt in 2009. The U.S. finances its debt by selling U.S. Treasuries, which are interest-bearing securities similar to bonds. U.S. Treasuries are available in … Continue reading
Deficits as far as the eye can see
Via Ravnwood, who has more.
Obama, it turns out, is a spending-crazed leftist
Who knew? National Journal – Obama’s Left Turn: Centrists fear that the president’s budget reveals his liberal leanings: Having praised President Obama’s job performance in two recent columns, it is with regret that I now worry that he may be … Continue reading
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