The White House is now reporting that the debt day is approaching faster than expected. August 2nd was the cut-off date for negotiating a deal, but now Congress must agree to a deficit-reduction deal by July 22 to avoid hitting the limit. Meanwhile, Republicans and Democrats are deadlocked in opposing positions. Included in one…
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In a new article, “How Can Anyone Take This Seriously?”, Independent Institute Research Editor Anthony Gregory slams the absurd squabbling in Congress over 2% of the federal deficit while the U.S.’s gigantic spending and debt crisis plunges onward. The U.S. is running deficits somewhere between one and one and a half trillion dollars, and…
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Seth McLaughlin at the Washington Times reports in “Fears rise that Japan could sell off U.S. debt” of the growing concerns that the earthquake, tsunami, and nuclear disasters and now economic crisis in Japan could trigger a major sell-off of there of its huge holdings of U.S. government debt. As of January, Japan is…
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Rasmussen Reports has released a new poll indicating that 58% of likely American voters prefer a partial shutdown of the U.S. government “until Democrats and Republicans can agree on what spending to cut” and 61% want less spending. As Republicans and Democrats in Congress haggle over the budget, most voters would rather have a…
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According to CBS News, on the last day of 2010 the U.S. National Debt hit a record level of more than $14 trillion or $14,025,215,218,708.52, up from $9 trillion just over three years ago and a whopping 55% increase since just before 2008. As the report states: It took just 7 months for the…
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Are there any limits to the federal government�s power to regulate commerce? U.S. District Judge Henry Hudson has promised a decision on this issue before the end of this year. Judge Hudson is presiding over the Commonwealth of Virginia�s challenge to the Patient Protection and Affordable Care Act (better known as Obamacare), which forces…
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October 1 is the beginning of the federal government’s 2011 fiscal year. Congress has not passed a budget, and it appears likely that one won’t be passed until January. The government that wants to take over and run your health care (and other aspects of your life) can’t even pass its own budget. One…
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For many, economic logic and application to a wise management of finances is a chore considered best left to the �professionals�. After all, crunching numbers given the vast array of rules and regulations can be taxing (pardon the pun). However, debt finance is a particular economic subject that can be easily understood and just…
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