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Illinois' Pension Crisis: The Future of American Entitlements
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Illinois' Pension Crisis: The Future of American Entitlements

Sit up and take notice, Washington – the future of America’s entitlements is unfolding before you in the form of the Illinois pension crisis. Illinois’ five state-funded pension systems were almost $100 billion too small to meet promised pension obligations, potentially affecting state employees, “down-state” teachers (Chicago teachers have their own pension problems), state university employees and even General Assembly members.

04/03/2013
Cyprus! Government Spending, Debt and Government Confiscation of Private Property
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Cyprus! Government Spending, Debt and Government Confiscation of Private Property

Democracy and Power 104: Future Debt Burden A government debt is a government claim against personal income and private property – an unpaid tax bill. —Hans F. SennholzExcessive spending and inflicting debilitating debt is integral to all modern democracies. Why? Elected politicians institute programs for current voters and shift the debt to future workers, even the unborn. Social Security, Medicare, prescriptions drug benefits for seniors are prime examples in America.

03/22/2013
Democrats Introduce First Formal Budget Proposal in Four Years
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Democrats Introduce First Formal Budget Proposal in Four Years

Congressional Democrats have finally gotten around to proposing a federal budget - the first one in four years - and you can probably imagine what it includes. According to The Hill,The first budget from Senate Democrats in four years includes nearly $1 trillion in new taxes but would not balance the budget.

03/13/2013
A Freedom Guide to Debt and Sequester
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A Freedom Guide to Debt and Sequester

Democracy and Power 104: Future Debt BurdenA government debt is a government claim against personal income and private property – an unpaid tax bill. —Hans F. SennholzA Freedom Guide to Debt and Sequester Here is a quick guide on debt and sequester, plus related articles for more in depth study of what's currently happening in American politics.

02/28/2013
CBO Report Confirms That Deficit Reduction Leads To Economic Growth, Helps All Families
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CBO Report Confirms That Deficit Reduction Leads To Economic Growth, Helps All Families

On February 5, the Congressional Budget Office released a report titled, "Macroeconomic Effects of Alternative Budgetary Paths". Full disclosure: even to us policy wonks, this report sounds a bit dry. Not exactly 50 Shades of Grey, if you know what I mean. But this report did contain some very interesting nuggets. Prepared at the request of the Chair of the Senate Budget Committee, Patty Murray, I'm certain that it came as a bit of a surprise.

02/21/2013
End the Debt Ceiling Shenanigans
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End the Debt Ceiling Shenanigans

Here we go again… The U.S. is expected to hit the $16.4 trillion debt ceiling by the end of February. That means that we can expect more partisan bickering in Washington over whether to raise the debt ceiling—with or without spending cuts. It has now become typical for Washington to stumble from one manufactured crisis to the next instead of fixing the root cause of the problem.

01/17/2013
FreedomWorks Busts Myth Of Debt Ceiling And "Not Paying Our Bills"
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FreedomWorks Busts Myth Of Debt Ceiling And "Not Paying Our Bills"

The repeated refrain from the likes of Paul Krugman and Jay Carney is that we MUST increase the debt limit so that we don't default on the full faith and credit of the United States, and that we continue to pay our bills. Indeed, on Monday, President Obama chastised Congressional Republicans for making spending cuts mandatory in any debt ceiling negotiation:

01/17/2013
If Obama Wants Kids On Stage, Let's Give Him Kids On Stage
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If Obama Wants Kids On Stage, Let's Give Him Kids On Stage

Today, Obama is once again going to ignore the Constitution. This time, the Constitutional right under attack is gun control. According to White House Press Secretary Jay Carney, Obama will be presenting a “concrete package” of proposals which will water down the Constitutional rights of American citizens.

01/16/2013
Opposition Grows As Jack Lew Proves He Doesn't Understand Budgets
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Opposition Grows As Jack Lew Proves He Doesn't Understand Budgets

Jack Lew, President Obama's choice to replace Timothy Geithner as Treasury Secretary, has been in Washington DC a long time. Anyone in public service that long will have quite a record of public statements that will paint an accurate picture for Senators who are considering his nomination.

01/14/2013
Government Debt – Does America Need a Constitutionally Defined Debt Limit?
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Government Debt – Does America Need a Constitutionally Defined Debt Limit?

Democracy and Power 105: The Politician seeks powerThe desire to rule is the mother of heresies. —St. John Chrysostom

01/03/2013

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