Posts Tagged ‘federal deficits’

Interest Payments on U.S. Government Debt Are on Track to Bankrupt America


Monday June 13th, 2011   •   Posted by David Theroux at 2:20pm PDT   •   5 Comments

This video, “Brother, Can You Spare a Trillion? Government Gone Wild!”, has now had over 2.7 million views on YouTube. It summarizes the gigantic threat that U.S. government debt poses for America, with annual interest payments alone this year totaling more that all federal spending for the combined costs of the departments of Commerce,…
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Social Security “Trust Fund” Deficits to Add $5 Trillion to U.S. Debt


Sunday May 15th, 2011   •   Posted by David Theroux at 9:39am PDT   •   3 Comments

Jed Graham in Investor’s Business Daily reports that a new study of the financial condition of Social Security and Medicare indicate that with baby boomer retirements, rising health costs, and the ongoing economic malaise, these federal entitlement programs are producing massive deficits in perpetuity unless major changes are made to cut these unsustainable liabilities….
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To Reduce U.S. Debt, Cut at Least 85% of Federal Government Spending


Saturday January 1st, 2011   •   Posted by David Theroux at 3:47pm PST   •   8 Comments

In an article in the Wall Street Journal, “The Right Way to Balance the Budget,” Andrew Biggs, Kevin Hassett and Matt Jensen report that new research of 21 countries over the past 37 years shows that to reduce government debt, a major reduction of spending must be adopted instead of higher taxes. On average,…
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Obama “Pay Freeze”: 1.1 Million Federal Employees to Receive $2.5 Billion in Raises


Monday December 6th, 2010   •   Posted by David Theroux at 7:03pm PST   •   8 Comments

The Federal Times reports in “Federal pay freeze plan wouldn’t stop raises” that President Obama’s claimed, 2-year “pay freeze” does nothing of the sort, but instead will result in 1.1 million employees receiving from 2.6 to 3.3 percent increases in wages or more than $2.5 billion in pay raises. (Military and legislative branch personnel…
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Congressional Candidate Likes the Independent Institute but Not Bureaucratic Spendaholics


Friday October 29th, 2010   •   Posted by Lindsay Boyd at 11:41pm PDT   •   1 Comment

While MyGovCost.org and the Independent Institute do not endorse political candidates, Mark Grannis—the “Libertarian alternative” candidate in Maryland’s 8th Congressional District race—endorsed us in an interview with The Washington Post on Thursday, October 28th. Grannis cites the Independent Institute, which launched MyGovCost.org on August 31st (and is here on Facebook), among his civic activities—which…
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Rogoff on Gold Prices and Public Debt


Wednesday October 6th, 2010   •   Posted by Emily Skarbek at 5:03pm PDT   •   2 Comments

Ken Rogoff on rising gold prices and public debt: “At $1,300, today’s price is probably more than double very long-term, inflation-adjusted, average gold prices. So what could justify another huge increase in gold prices from here? “One answer, of course, is a complete collapse of the U.S. dollar. With soaring deficits, and a rudderless…
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