Posts Tagged ‘ Economy ’

15.2 TRILLION and there ain’t no stopping us now

January 9, 2012 was a historic day in America.  It came and went without much notice in the press or by the millions of Americans affected.  Without Congressional approval, without a vote, without a whimper, the debt limit was automatically raised and the national debt became a record 15.2 trillion dollars.

The new debt number exceeds the total Gross Domestic Product of the entire nation,* which was $15.176 trillion in 2011.  As Americans we should be outraged.  We should recall and impeach all our elected officials who silently approved.  But will we?

No.  Most Americans don’t even realize the danger.  Most won’t care until collapse is imminent.  Then just like in Greece, riots will erupt and people will be confused wondering why they never saw this coming.  I’ve been predicting this since 2004 and writing about it here since 2008.  People smarter than me have as well, but no one listens.

Would you like some fries with that?

Some with shallow understandings of macro economics argue, “it’s a harmless debt, we owe it to ourselves.”  That’s like walking across the Sahara without water and saying, “But it’s a dry heat.”  Nor is it unlike a 900 pound man claiming the extra 1300 calories in the Monster Thickburger won’t make a difference in his 20,000 calorie per day diet.  In both examples the result is the same. Continue reading

So much time, so little honesty

So much to say

I have a few different points to make in this essay. I’d love you to read them all but I’ll list them here and you can decide. If you’re left-leaning I encourage you to at least scroll to the “The spending issue.”

  1. History shows a lot can change in 15 months – don’t count Obama out yet.
  2. Facts are stubborn things.
  3. The best defense is a good offense.
  4. The spending issue or why my boss and banker are terrorists.

Continue reading

How to Grow an Economy and Create Jobs

Contrasting schools of thought“In this present crisis, government is not the solution to our problem, government is the problem.”

— Ronald Reagan, 1st Inaugural Address, 1981

Below I present reprints of two interesting editorials.  The first makes the point that punishing the rich does nothing to further the goal of reducing poverty.  That particular goal is best achieved through job creation.  It may feel good to steal from the rich and give to the government er, poor, but the reality is those with money are the ones providing the jobs.  Don’t get me wrong, the rich can afford to pay more and should, but there is a point of diminishing returns.  As you increase the burden, more and more jobs are cut and those remaining become increasingly demanding.  This results due to business owners’ desperate attempts to hang onto profits or in many cases just stay in business.

Not a Government Policy

November 30, 2010

Michael D. Tanner is a senior fellow at the Cato Institute and the author of “Leviathan on the Right: How Big-Government Conservatism Brought Down the Republican Revolution.”

Income inequality is the wrong focus for government policy. After all, if we doubled the income of every American tomorrow, inequality would actually increase — but we would also lift a lot of Americans out of poverty.

A more expensive government is a burden that will ultimately reduce growth and make it harder for the poor to move up the income ladder.

In the context of deficit reduction, that means we should keep this goal in mind: Continue reading

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