Browsing: National Debt

Senate Democrats, who have been unable to pass a federal budget for the last five years, finally proposed and passed a federal budget. Before we applaud them for meeting the minimum standards of their job description, we must point out that they did so only to counter the budget proposed by Republican Paul Ryan. Senate Democrats took their proposed federal budget on tour with all of the usual media suspects. Employing the usual playbook of the left, they used poll tested terms like balanced approach and fair share.  They stood tall and claimed that they are the adults in the…

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National debt is skyrocketing while Obama fiddles, just as Nero did while Rome burned. Obama continues offering only false rhetoric and political doublespeak, while our national debt burns further and further into uncharted territory. Relying on tired rallying cries of hope and change, Obama's rhetoric promises to part the seas, but doesn't discuss the skyrocketing national debt. Before becoming Divider-in-Chief, candidate Obama described President Bush as un-American for adding to our national debt at one-fourth the rate of Obama. The core of Obama's reelection campaign theme is to completely ignore the national debt and tax the millionaires and billionaires who don't pay…

As congress continues to seek a compromise on how much federal spending to cut in order to avoid a government shutdown, Tea Party activists who helped propel Republicans back into power are growing impatient with the budget debate. When Republicans captured the House in November, vowing to slash $100 billion in federal spending from the budget year ending in September, 76 percent of Tea Party activists supported their deficit-reduction plan, according to a new Pew Research poll released last week.  But after House Republicans approved a plan last month to cut federal spending by $61 billion, that Tea Party support…

With voters growing weary of the continuing games from Washington and yet another threat of a government shut down looming, Democrats and Republicans spent Thursday alternately declaring they had or had not reached a deal on funding the federal government through the current fiscal year. Senate Majority Leader Harry Reid (Democrat, Nevada) repeated Vice President Joe Biden's assertion that the two sides had at least agreed to a number, if not yet the details about what may be cut and what won't. House Speaker John Boehner (Republican, Ohio) quickly shot down Reid's statement, adamantly denying there was any deal at…

A new, nonpartisan analysis of Barack Obama's proposed 10-year budget reveals that the Obama administration has underestimated budget deficits by more than $2.3 trillion. In their preliminary report, the Congressional Budget Office (CBO) stated, "In all, deficits would total $9.5 trillion between 2012 and 2021 under the president's budget." The Obama budget projected $7.2 trillion deficits over the same period, understating deficits by $2.3 trillion dollars. Even more alarming, the CBO estimates that the "federal debt held by the public would double under the president's budget, growing from $10.4 trillion (69 percent of GDP) at the end of 2011 to…

Politicians typically break campaign promises more often than not.  When an elected official instead chooses to keep their word, he or she deserves recognition for their consistency.  With the rise of the Tea Party movement, many lawmakers are talking about cutting government spending. Few politicians, however, are willing to truly walk their talk. Some of those exceptions include new senators such as Sen. Rand Paul (R-KY) and Sen. Mike Lee (R-UT), as Senator Rand Paul introduces balanced budget. Last week, Sen. Paul along with Senators Lee and DeMint released a plan that would balance the federal budget within five years.…

Madison Wisconsin. (February 28) The call went out far and wide for massive protests to stand with the unions in Wisconsin. Every liberal, socialist, communist, Marxist, anarchist and left wing group in the country sent - and answered - the call. I have been watching in rapt fascination as a little known governor from an often overlooked state is honoring campaign promises he made when he was elected in November to balance the budget in Wisconsin.  In fulfilling his promises, a rare and honorable thing among politicians, Wisconsin has become a battle over far more than a state budget. Two…

The gold-plated AAA credit rating of the United States may be at risk as the nation copes with growing debt. Moody's states that even US Treasury bonds which carry a AAA credit rating, considered the safest of investments, could be downgraded if Washington continues on its current path of failing to manage the federal debt. Moody’s said the United States and other major Western nations, particularly Britain, have moved substantially closer to losing their gilt-edged ratings. The ratings are stable, but their ‘distance-to-downgrade’ has in all cases substantially diminished,” the credit rating agency said. "Preserving debt affordability at levels consistent…

Even before the massive costs of nationalized health care are added to the federal budget, the crushing deficits of Obama and the Democrats have credit rating agencies facing downgrades to America's AAA credit rating. The gold-plated credit rating of the United States may be at risk as the nation copes with growing debt. Moody's states that even AAA-rated US Treasury bonds, considered  the safest of investments, could be downgraded if Washington continues on its current path of failing to manage the federal debt. Moody’s said the United States and other major Western nations, particularly Britain, have moved substantially closer to…

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