Posts Tagged ‘entitlements’

The BIG FOUR Enter the Discourse of Debt


Monday April 4th, 2011   •   Posted by Emily Skarbek at 7:13am PDT   •   0 Comments

No, I am not referring to the Allied Leaders in WWI, college basketball, or the top accounting firms in the U.S. The BIG FOUR of the Budget are Medicare, Medicaid, Social Security and Defense. Together they make up around 65% of non-discretionary spending. Today, the New York Times and Wall Street Journal are running…
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The Day the Debt Comes Due


Monday March 28th, 2011   •   Posted by Emily Skarbek at 7:14am PDT   •   3 Comments

“My fellow Americans, I come to you today with a heavy heart. We have a crisis on our hands. It is one of our own making. And it is one that leaves us with no good choices. For many years, our nation’s government has lived beyond its means…We have not faced the hard reality…
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Will Disaster-Ravaged Japan Now Sell Off $886 Billion of U.S. Debt?


Friday March 25th, 2011   •   Posted by David Theroux at 5:42pm PDT   •   0 Comments

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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New Video on Spending and Debt Crises for State Governments


Thursday March 17th, 2011   •   Posted by David Theroux at 2:40pm PDT   •   0 Comments

FreedomWorks has produced a very timely new video, “We Won Wisconsin—But the Fight Goes On,” on the very serious, looming crises for state government across the U.S., as a result of the unsustainable entitlements, government employee union costs, and other spending and debt.

“Mandatory” U.S. Spending Alone to Exceed All Federal Revenues


Wednesday March 16th, 2011   •   Posted by David Theroux at 12:38pm PDT   •   0 Comments

Jeffrey Anderson at The Weekly Standard reports that “Mandatory Spending to Exceed all Federal Revenues — 50 Years Ahead of Schedule”. We have now gotten to the point . . . where if national defense, interstate highways, national parks, homeland security, and all other discretionary programs somehow became absolutely free, we’d still have a…
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How to Cut the 2011 Federal Budget by 2/3 and Have a $1.3 Trillion Surplus


Friday February 11th, 2011   •   Posted by David Theroux at 12:41pm PST   •   22 Comments

In conjunction with its Government Cost Calculator, the Independent Institute is proposing cutting the 2011 Fiscal Year budget for the federal government by $2.5 trillion from the updated $3.7 trillion in spending projected by the Congressional Budget Office in January. The result would reduce federal spending by 67.6% with a surplus for the year…
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Repeal of Obamacare Would Not Add to the Deficit


Saturday January 22nd, 2011   •   Posted by David Theroux at 4:19pm PST   •   1 Comment

Former Congressional Budget Office (CBO) officials Douglas Holtz-Eakin (Director), Joseph Antos (Assistant Director) and James Capretta (Associate Director) show in a new Wall Street Journal article, “Health Care Repeal Won’t Add to the Deficit,” that repealing Obamacare (“Affordable Care Act” or ACA) will not increase the federal deficit. In so doing, they refute the…
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Former House Majority Leader Dick Armey: Cut Federal Spending by Scrapping Federal Programs


Thursday January 20th, 2011   •   Posted by David Theroux at 10:13pm PST   •   0 Comments

In a January 19th article in the Wall Street Journal, “What Congress Should Cut,” former U.S. House Majority Leader Dick Armey and FreedomWorks President Matt Kibbe propose abolishing “the Departments of Commerce and Housing and Urban Development, end farm subsidies, and end urban mass transit grants, for starters.” The primary economic challenge today is…
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U.S. Government Liabilities Leaped $2 Trillion in Fiscal 2010


Tuesday December 21st, 2010   •   Posted by David Theroux at 5:48pm PST   •   0 Comments

In an article from Reuters, David Lawder reports that a new U.S. Treasury report of cash holdings, “The Financial Report of the United States,” shows that the U.S. government went into greater debt in fiscal year 2010 to the tune of additional $2 trillion. Unfortunately, the report does not include the massive land, minerals,…
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Video Visualizes Obama’s Proposed $100 Million in Budget Savings


Tuesday November 23rd, 2010   •   Posted by David Theroux at 9:13pm PST   •   3 Comments

In response to growing public opposition to the gigantic spending by the federal government, President Barack Obama in 2009 called on his Cabinet to identify a combined $100 million dollars in budget cuts compared to the $3.5 trillion federal budget as a whole (not including the $787 “stimulus package” or the $83 billion in…
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