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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A wonderful graphic by Third Way is available here showing the path of Social Security towards insolvency. Jim Kessler and David Kendall advocate: “a ‘Savings-Led’ Social Security reform plan that actually increases the program�s progressivity. Our plan makes roughly two dollars in benefit reductions for every one dollar in revenue increases, and achieves solvency…
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In a new editorial in the Washington Examiner, “Closing the books on the worst Congress,” the 111th U.S. Congress is described as “reckless and destructive.” This is the Congress that passed Obamacare, against the wishes of a substantial majority of the public, on Christmas Eve of last year. In the dead of night, Democratic…
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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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One day after the massive electoral rebellion across the U.S. against the mega-spending policies of Washington, President Barack Obama embarks on a ten-day trip to Asia with 3,000 people at a cost of $200 million per day alone in Mumbai, India: “The huge amount of around $200 million would be spent on security, stay…
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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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In a new article in the Washington Examiner, “For a frugal Gal, I have got a lot of debt,” Tina Korbe discusses the merits of the Government Cost Calculator at MyGovCost.org: “Among my friends, I�m known for my frugality. I budget scrupulously, log every purchase I make in a ledger and often forego even…
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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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