The Chart That Should Accompany All Discussions of the Debt Ceiling

  There’s really not a huge need for commentary here as if you can read the chart, a picture is worth a thousand words.  The question is why isn’t this chart brought up every time someone suggests that Obama has created all of the deficit and debt problem?  Why isn’t the administration itself not educating people on the facts reflected on the chart?   Bookmark It Hide Sites $$('div.d3362').each(... Read More

Reagan’s 100th Birthday: Revisiting the nightmare

They say it’s not good to speak ill of the dead, but I’ll have to violate that stricture and talk about Reagan.  All around the web, people are commemorating his 100th birthday and looking back on his presidency with nostalgia and believing that he presided over “morning in America”, when in fact he was the principal actor in our current trip down the road to the fiscal nightmare that now besets us.  It was the Reagan administration’s... Read More

A New Radio Show: The Tea Party and various other fictions

I’ve been thinking about adding a verbal edition to my written blog, but hadn’t gotten around to it until this weekend.  My intention was to record the following show merely as a test, but since it didn’t come out too badly, I’d thought I’d proceed with publishing it.  This initial show just includes me and the topic is an overall review of current political trends with a focus on the tea party.  As I move forward, I’ll... Read More

US Must Address Debt, Warns Debt Commission

President Obama’s bi-partisan debt commission gave a preliminary read out of the nation’s fiscal situation today.  There was nothing earth shattering about the conclusion.  The prognosis from co-chair Erskine Bowles is that current trends will destroy the country from within.  I think Bowles is actually a bit off on that one as the holders of the debt and the bond vigilantes will take care of the destruction; it’s just that... Read More

Is a debt crisis coming to your neighborhood?

Debt Rises Times Five An excellent article here on a possible US debt crisis coming to your neighborhood in the future.  The chart above is a projection of interest payments on the national debt over the next decade.  They’re projected to grow to such an extent that they’ll constitute a large percentage of all annual spending.   This chart was put together by the congressional budget office and I don’t have access to their interest rate... Read More

Obama's Budget Proposal

President Barack Obama speaks at the GOP House Issues Conference in Baltimore, Maryland, January 29, 2010. REUTERS/Larry Downing Now here comes the challenging part.  No, I’m not talking about the challenges around Obama’s budget, but about the challenge of keeping this blogging hobby of mine up while going into tax season.  This ought to be interesting. Of course, my personal challenges pale beside the challenges of our nation as reflected... Read More

The Real Story Behind the Great Recession: Debt

  A Zimbabwean man carrying money to purchase something.  The annual rate of inflation in Zimbabwe is 100,000%  Above all else, the level of debt is the biggest problem behind the economic malaise we find ourselves in.  The debt problems are everywhere—mortgages, government debt, credit cards, auto loans and etc.  The basic problem is that there’s way too much of it and much of it won’t be paid back owing mainly to less income for individuals,... Read More

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