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Blog

How the United States could become Greece unless Congress takes mounting debt seriously

Greek voters, on Sunday, rejected austerity measures crafted by European countries and the International Monetary Fund (IMF). The results of the referendum, against which 61 percent voted, could mean the Mediterranean country exits the euro and see a run on banks similar to what it saw last week, or worse.

07/06/2015
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Press Release

Obama’s $4 Trillion Budget Joke

President Obama released his latest budget, a plan that would spend $4 trillion next year and $50 trillion over the next decade. The plan is packed with goodies from free community college to free preschool to increased infrastructure spending. The budget blows past the spending caps that Obama signed into law in 2011.

02/02/2015
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Blog

The real State of the Union response was delivered by Rand Paul

Being tasked with a response to the State of the Union address isn't easy. The message, usually given by a fresh face, is carefully crafted to fluff up a party's priorities for the coming months, as well as offer Americans a distinction between their agenda and what the president offered them earlier in the evening.

01/21/2015
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Blog

Barack Obama will propose a big spending increase in his next budget

President Barack Obama faces a Republican-controlled Congress that opposes most, if not all, of his legislative agenda. And with just two years left in his presidency, he staring down irrelevance, without many, if any, real legislative accomplishments embraced by the American people. In some way, these sorts of problems can be liberating, but, as he so frequently tells Republicans, there is still an expectation that he live in some sort of a reality.

01/16/2015
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Blog

No, Barack Obama, budget deficits aren't "manageable" by any stretch of the imagination

Looking to stake some ground just weeks before the mid-term election, President Barack Obama, in a speech last week at Northwestern University, dismissed concerns about budget deficits, claiming that ObamaCare is keeping down healthcare costs.

10/06/2014
The Salmon Rule: A Vote for Common Sense
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Blog

The Salmon Rule: A Vote for Common Sense

Keep your word. Don’t take things that aren’t yours. Don’t spend more than you have. This is common sense for most people. But in Washington, D.C., these grade-school lessons are considered downright radical.

03/11/2013
Chart: Federal spending and receipts in one image (FY 2013)
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Blog

Chart: Federal spending and receipts in one image (FY 2013)

01/25/2013
Your Guide to the National Debt (Part 4)
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Blog

Your Guide to the National Debt (Part 4)

“Never complain of that of which it is at all times in your power to rid yourself.” – Adam Smith quoting Greek Stoic philosopher Epictetus, chapter I, section II, and part VII of The Theory of Moral Sentiments, originally published in 1759.The national debt is a tremendous burden on our country, ourselves, and our posterity.

01/24/2013
If Obama Wants Kids On Stage, Let's Give Him Kids On Stage
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Blog

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
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Blog

There Is No National Debt

As we approach the next artificially constructed, politically motivated, intentionally promoted national crisis, we should keep one thing in mind: though we speak of a national debt, there is no single national debt.  The debts the government owes are real enough, and a source of national shame, totalling as they do over $16 trillion.  But those debts are owed to millions of holders of the various Treasury notes, bills, and bonds, each of whom may own multiple securities of various maturities.  Sold weekly, the securities come due and, as people get around to it, are either rolled over or redeemed every business day.That is important because as we run up against the debt ceiling, the fear mongers will claim that failure to raise the ceiling will cause us to default on the debt, as if it is one single sum owed to a single debt holder.  Defaulting on it is made to sound like the sky is falling, as if it would be the end of the nation itself.Another category of securities are those held by government agencies, such as the Social Security "Trust Fund" and the federal pension funds.  Failure to redeem one of these securities would be politically explosive, exposing the duplicitous nature of the generational theft caused by runaway spending.In fact, defaulting on one of these debts, as stupid and irresponsible as that would be, would merely cause people to reconsider the soundness of tying up their money in Treasury securities.  That would cost the government more in interest payments in the future, which would probably lead to a chain reaction of inflation.  On the other hand, it might lead people and institutions to invest in more productive ways, such as in the stock market.

01/14/2013

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