Posts Tagged ‘Obama’

Standard & Poor’s Downgrades U.S. Government Debt Rating to Negative


Monday April 18th, 2011   •   Posted by David Theroux at 1:46pm PDT   •   4 Comments

In “S&P Cuts U.S. Ratings Outlook to Negative,” Damian Paletta at the Wall Street Journal reports that the influential firm Standard & Poor’s has just “for the first time lowered its outlook on the U.S. government’s debt to ‘negative’ from ‘stable.’” A stark warning from a credit-rating firm about the U.S. government’s fiscal problems…
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Grasping and Gasping at the Federal Budget’s Trillions and Trillions


Saturday April 16th, 2011   •   Posted by David Theroux at 3:10pm PDT   •   1 Comment

In a new article in the Philadelphia Inquirer, “Grasping budget’s billions and trillions: Incomprehensibly huge numbers mask real burdens,” Independent Institute Research Fellow Emily Skarbek (Director of the Government Cost Calculator) discusses the meaning and absurdity of the $3.8 trillion federal budget and the meaningless reforms being proposed. Taxpayers might have strong feelings about…
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Gasoline Prices Skyrocket Up 100% Under Obama


Thursday March 31st, 2011   •   Posted by David Theroux at 8:27pm PDT   •   3 Comments

In “Gasoline up 100% under Obama,” James S. Robbins reports in the Washington Times that: Gas prices have doubled since Mr. Obama took office. According to the GasBuddy gasoline price tracking web site, the price of a gallon of regular gas was around $1.79 when Mr. Obama took office. Today the national average is…
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Cost of U.S. Military Intervention in Libya: Forbes Says $2 Billion Per Day?


Tuesday March 29th, 2011   •   Posted by David Theroux at 8:43pm PDT   •   0 Comments

In the new article, “The Real Cost of U.S. in Libya? Two Billion Dollars Per Day,” Loren Thompson at Forbes now reports that the real cost of Obama’s war in Libya is $2 billion per day! The one thing most experts seem to agree on about the current coalition air campaign in Libya is…
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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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The Defense Budget: Ignorance Is Not Bliss


Sunday March 13th, 2011   •   Posted by Winslow Wheeler at 6:27pm PDT   •   4 Comments

Polling from Pew and Gallup reveals major public misconceptions about the defense budget. Fifty-eight percent of Americans know that Pentagon spending is larger than any other nation, but almost none know it is up to seven times that of China. Most had no idea the defense budget is larger than federal spending for education,…
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Dr. Emily Skarbek: “Government’s Obesity Crisis”


Tuesday January 18th, 2011   •   Posted by Allison Gibbs at 1:40pm PST   •   0 Comments

In this new article on the continual spending and stretching of the budget, Dr. Emily Skarbek explains the temptations for the new Congress to spend wastefully and heighten the debt ceiling. Equating Congress and the ever-expanding budget to over-eaters, Dr. Skarbek says that small intervals of “another ten pounds” are causing an extreme obesity crisis…
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U.S. National Debt Hits New Record High of $14 Trillion


Tuesday January 4th, 2011   •   Posted by David Theroux at 8:36pm PST   •   2 Comments

According to CBS News, on the last day of 2010 the U.S. National Debt hit a record level of more than $14 trillion or $14,025,215,218,708.52, up from $9 trillion just over three years ago and a whopping 55% increase since just before 2008. As the report states: It took just 7 months for the…
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Your Paycheck in 2011


Tuesday January 4th, 2011   •   Posted by Craig Eyermann at 10:37am PST   •   0 Comments

Compared to how January 2011 might have played out, where every taxpayer in the United States would have received a smaller paycheck if the 111th U.S. Congress hadn’t acted to extend the 2001 and 2003 tax cuts, the Congress’ late action to extend those tax rates for another two years, while also throwing in…
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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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