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Debt Ceiling Debate Plunges Into the Absurd
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Blog

Debt Ceiling Debate Plunges Into the Absurd

You can begin to comprehend the desperation level of a particular party or ideological persuasion when the arguments that are posited leave the realm of logic and plunge into the abyss of absurdity. 

07/13/2011
The Future of Fiscal Irresponsibility
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The Future of Fiscal Irresponsibility

As Matthew Clemente pointed out in his last entry, the national debt will surpass GDP as soon as 2012. Unfortunately, it gets more frightening—according to the 2008 Financial Report of the U.S. Government, the government has already promised $65 trillion in Medicare and Social Security—more than the GDP of the entire world. Even this figure is already outdated: consider the additional promised payouts with the passing of the healthcare bill.

06/11/2010
Obama to Eliminate Tax Breaks
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Obama to Eliminate Tax Breaks

The president recently announced plans to crack down on what he calls "corporate tax abuses."  He is seeking another $200 billion out of companies over the next ten years that do business internationally.  Whether he calls it closing a loophole or a tax hike, it will have the same effect as raising taxes by $200 billion on American businesses.  That might cause the elimination of more jobs, drive companies to more tax-competitive countries, and slow business in the United States.  Government should not tax and spend more, especially in a recession.

05/05/2009