Devin Dwyer and Luis Martinez report for ABC News in “Cost of Libya Intervention $600 Million for First Week, Pentagon Says,” that: One week after an international military coalition intervened in Libya, the cost to U.S. taxpayers has reached at least $600 million, according figures provided by the Pentagon. U.S. ships and submarines in…
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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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The General Accountability Office (GAO) released a new report early Tuesday morning, identifying billions of dollars currently being spent on “duplicate federal programs”. �How does this happen? It’s simple, really. When a bureaucratic body fails to be efficient and accomplish the objectives of it’s charter, our enlightened, pork-loving representatives in Washington simply finance a…
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One of the reasons federal spending has spiraled out of control in recent decades is that neither the public, nor the Congress, has any idea what the huge budget numbers really mean. Per capita income in the United States now stands at approximately $33,070. It’s higher in most urban areas. In the Dallas-Fort Worth…
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In an article at the American Spectator by Philip Klein, he reports on the new report from the Congressional Budget Office (CBO) that shows that repeal of Obamacare (“Patient Protection and Affordable Care Act”) would cut $1.4 trillion from projected federal spending over ten years. In addition, even greater cuts of $732 billion could…
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Visually explained in terms of shots of Jack Daniels in this video, here is the $1.5 trillion U.S. deficit and the absolutely feeble proposal by the Republican leadership to cut $100 billion (oops, now $74 billion). Meanwhile, Democratic Senate Majority Leader Harry Reid ludicrously called the Republican proposal “unworkable” and “even more draconian than…
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In a new article in the Christian Science Monitor, “Pentagon cuts don’t cut it. Want to really save money? Get a new security strategy”, Independent Institute Senior Fellow Charles V. Pe�a shows that the proposal by Obama administration Defense Secretary Robert Gates of “cuts” in spending by the Department of Defense are not cuts…
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The latest economic forecasts are now projecting that the federal budget deficit will reach a record of nearly $1.5 trillion in 2011. As the Wall Street Journal reports, this �grim outlook landed a day after President Barack Obama outlined plans to push for new spending that he said would help keep the U.S. globally…
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If you want to quickly see how President Barack Obama and the Congressional Democrats’ federal government spending proposal for 2011 stacks up against what Congressional Republicans have in mind, shown against a background illustrating the trend in U.S. federal government spending since 1967, here you go! References 1 Obama, Barack. The State of the…
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Michael Snyder reports on seventeen statistics on the unsustainable nature of reckless U.S. government spending and debt. 1. As of December 28th, 2010, the U.S. national debt was $13,877,230,355,933.00. 2. If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it…
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