Posts Tagged ‘ national debt ’

Today, several news organizations indicated that in the early hours of the morning, the national debt tops $13 trillion for the first time in history.  This news comes as Congress gets set to vote this week on an additional $130 billion of spending to add to the 2010 Obama budget deficit of over $1.4 trillion.  The...
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Last week Rep. Eric Cantor (R-VA) announced the start of the You Cut Federal Budget program.  The idea behind the you cut budget program is that voters can vote on items presented each week to cut  from the federal budget.  As we reported last week, Youcut is a program put forth by House republicans to help...
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Youcut is a program put forth by House republicans to help curb federal spending, reduce the budget deficit, and potentially reduce the national debt.  The program is designed to allow Americans to vote for federal budget items that they would support cutting from the federal budget. In a recent interview in the Richmond Times...
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The Obama administration has produced a record budget deficit of over $1.3 trillion for fiscal year 2010.  The CBO has re-estimated its 10 year projections to predict that Obama’s budget deficits will push the country almost $10 trillion further in debt by 2020. Putting the federal deficit in terms that Americans can understand, when Obama...
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Incinerating a Hot Potato By Scott Spiegel If deficit spending is the way out of an economic downturn, as leftist economists like Paul Krugman keep telling us, then one way to characterize President Obama’s approach to reviving the ailing economy is “killing it with kindness.” Another is “tough love” – not the kind where...
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For years, the Federal Government has kept budget deficits lower than they would have been by borrowing money from Social Security.   However, now this borrowing has lead to a situation where Social Security is now in the red.  In fiscal year 2010, Social Security will run a cash deficit of $28 billion. As pointed out...
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Today we read a post that indicated that as of 3:00 pm on 11/17, the United States National debt topped $12 billion for the first time setting a new US national debt record. According to a post at Hot Air, the United States national debt was $12,031,299,186,290.07 at 3:00 pm.  This indicates that it...
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As our government debates adding trillions of dollars in spending through the health care reform bill, we are reminded the sad shape of our government’s finances.  President Obama has delivered a record monthly budget deficit in his first fiscal year as president.   It was reported this week that Obama has delivered the largest October budget...
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As always, the world of politics continues to make headlines in the media.  Below is a list of stories that you might have missed. HR 3200 Will Cover Illegal Immigrants - Despite claims from several people in congress, the health care reform bill will cover illegal immigrants according to the congressional research service.  This is...
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