Our Dark Budgetary Future
Paul Ryan paints a grim picture of America’s fiscal future to support his budget plan at the 2013 Conservative Political Action Conference. H/T Wall Street Journal
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Call Me Stormy
Finding righteous currents in turbulent times
Archive for the tag “debt”
Sequestration Panic Time!
The “cuts” under sequestration are, in fact, not spending cuts at all. Even the one department that faces substantive cuts, Defense, will continue to spend at historically high levels. Cato Institute Senior Fellow Michael D. Tanner comments.
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Hey Washington, Get Frugal
Regular Americans everywhere are having to tighten their belts and learn to live with less. Kira Davis asks: “Why can’t Washington?”
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The Democratic Spending Spree
Washington Rep. Cathy McMorris Rodgers, one of the highest ranking Republican women in Congress, says President Obama’s State of the Union speech failed to address two of the most troubling problems facing the nation –how can we create more jobs and control runaway federal spending. She says the President also seemed closed to the idea of negotiating bi-partisan solutions, but she remains hopeful that immigration reform can perhaps be achieved over the next four years. H/T Wall Street Journal
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California’s Pension Bomb
Once widely viewed as the most beautiful state in the nation, world-renowned for its climate and its beaches, California is now flirting with disaster, seemingly destined to become America’s version of Greece. The state is hurling toward bankruptcy, but still rewards its workers with lavish pensions that the state lacks the resources to sustain. John Stossel discusses this ticking time bomb with Dan Mitchell from the CATO Institute and Los Angeles Mayoral candidate Kevin James.
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Why You Should Live Abroad
“I recommend defaulting on the debt for several reasons,” explains best-selling author, investment strategist and libertarian commentator Doug Casey. “Perhaps the best one is that I don’t think it’s correct to make the next several generations of Americans indentured servants.”
His new book, Totally Incorrect, is a collection of conversations with Louis James that explore the ways in which centralized government power threatens cultural and economic progress. In a series of engaging and wide-ranging dialogues, Casey and James talk about everything from the Great Depression to drug use to the Roman Empire.
Reason TV‘s Nick Gillespie sat down with Casey to discuss why America should default on its debt, why he spends most of his time in Argentina these days, and the importance of self-reliance and free-market principles.
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Our Coming Economic Collapse
Runaway entitlement programs ensure that a Greek-style economic collapse awaits in our future. It can’t be averted, even if federal taxes are increased to 35 percent of the Gross Domestic Product, up from a current 20 percent of the GDP. Jeffrey Rogers Hummel, a professor of economics at San Jose State University, examines the dynamics propelling us toward the collapse in an interview with Reason‘s Nick Gillespie. “In the short run it’s going to be painful,” says Hummel, “but in the long run, it’ll be a good thing.”
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Fed Reaches Debt Ceiling
The Treasury Department says the US is on track to hit the debt ceiling by Monday, about the same time we will fall off the Fiscal Cliff if Congress can’t agree on a compromise regarding how best to balance the federal budget. The Wall Street Journal‘s Damien Paletta has the latest on the complicated issues, and also discusses how they intertwine.
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Tax the Rich
Lee Doren exposes the myths, the miscalculations and the outright lies behind Democrats’ plans to tax the rich as a means to ease the federal government’s mounting debts. The catalyst for his critique is an animated piece of propaganda called Tax the Rich, created by the California Federation of Teachers. Narrated by lefty loon Ed Asner, the video blames the rich for pretty much all of the country’s economic and social woes, and even has a scene depicting the wealthy urinating on poor people. Here’s Doren’s rebuttal, followed by Tax the Rich, which should otherwise be known as Teachers Can be Just As Stupid, Biased and Bigoted As Anyone Else, If Not More So.
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To Infinity and Beyond
This just in…Nancy Pelosi says Congress ought to give President Obama the power to raise the debt level to infinity. “Here’s a news flash, Nancy, Obama’s already doing it anyway.” says Jodi Miller. Also hear her address United Nations Ambassador Susan Rice, the NBA and Michigan’s debate over whether to dissolve the city of Detroit in this edition of NewsBusted.
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