Posts Tagged ‘national debt’

Fun Facts About $16 Trillion in Federal Government Debt


Thursday September 6th, 2012   •   Posted by Lloyd Billingsley at 9:41am PDT   •   3 Comments

On August 31, total U.S. government debt surpassed $16,000,000,000,000—thatís $16 trillion—for the first time, according to the Treasury Department. The exact amount of the debt on August 31 was $16,015,769,788,215.80, a full $25,000,000,000 Ė thatís $25 billion—more than what it was the day before on August 30. So the debt is now much more…
Read More »

Previewing the New Obama Budget


Saturday February 11th, 2012   •   Posted by Craig Eyermann at 9:10am PST   •   2 Comments

USA Today reports that the difference between what the federal government under President Obama will have spent in 2012 and how much it will collect in taxes and other revenue sources will be $1.33 trillion: The budget, an outline of which was released by the White House Friday night, will show a higher deficit…
Read More »

3 Reasons Why the Debt-Ceiling Debate Is Full of Malarkey


Friday July 15th, 2011   •   Posted by Emily Skarbek at 11:59am PDT   •   5 Comments

President’s Threat Reveals Democratic Lie on Social Security


Wednesday July 13th, 2011   •   Posted by Paul Theroux at 7:18pm PDT   •   8 Comments

Yesterday, President Obama threatened that if the debt limit is not raised by the August 2 deadline, he canít guarantee that Social Security checks will go out. However, for years Democrats have argued that Social Security is on strong fiscal footing, and reform is unnecessary. The argument is that over the years the government…
Read More »

Well, Duh! . . .


Monday July 11th, 2011   •   Posted by Craig Eyermann at 8:20am PDT   •   1 Comment

The St. Louis branch of the Federal Reserve has come out with the findings of their groundbreaking research into the primary cause of the rise in the U.S. national debt. Is it too little revenue (i.e. tax collections?) Is it too much spending? The report’s authors Daniel L. Thornton and Kevin L. Kliesen summarize…
Read More »

New Day of Reckoning


Friday July 1st, 2011   •   Posted by Emily Skarbek at 6:00am PDT   •   2 Comments

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…
Read More »

China Drops 97% of Its Holdings in Short-Term U.S. Treasury Bills


Sunday June 5th, 2011   •   Posted by David Theroux at 3:58pm PDT   •   0 Comments

Terence Jeffrey reports at CNSNews.com that “China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills” over a 20-month period. Is this a major reflection of the increasingly precarious status of the U.S. dollar and U.S. government finances worldwide? China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing…
Read More »

Irish Government Raids Private Pensions to Pay for Spending Crisis


Tuesday May 10th, 2011   •   Posted by David Theroux at 10:03pm PDT   •   0 Comments

In “Irish Bombshell: Government Raids PRIVATE Pensions to Pay for Spending,” in the Business Insider, Joe Weisenthal and Gregory White report on what some people consider might be an ominous sign for future policies in the U.S. and other countries to address the gigantic spending and debt crisis. The Irish government plans to institute…
Read More »

Jeff Miron’s Advice: Cut Federal Entitlement Spending!


Thursday May 5th, 2011   •   Posted by Emily Skarbek at 7:51am PDT   •   12 Comments

In the following video, Independent Institute Research Fellow Jeffery Miron discusses why federal entitlement spending (Medicare, Medicaid, and Social Security) is growing to unprecedented levels and must be cut and cut and cut some more if the U.S.’s fiscal spending and debt crisis is to be resolved. HT: Mike Munger

The Risk of Doing Nothing


Saturday March 19th, 2011   •   Posted by Craig Eyermann at 5:48am PDT   •   1 Comment

Bloomberg BusinessWeek has identified the biggest risk in continuing today’s levels of deficit spending for the U.S. government: Barack Obama may lose the advantage of low borrowing costs as the U.S. Treasury Department says what it pays to service the national debt is poised to triple amid record budget deficits. Interest expense will rise…
Read More »

Facebook Twitter Youtube RSS

Search MyGovCost