The Economic Collapse – by Michael Did you know that the greatest period of economic growth in American history was during a time when there was absolutely no federal income tax? Between the end of the Civil War and 1913, there was an explosion of economic activity in the United States unlike anything ever seen [...]Continue Reading
SHTF Plan – by Mac Slavo For a little bit of humor on a serious subject, we present the latest Federal Reserve Note, made available by The Daily Sheeple Picture of the Day. In all seriousness, it should be clear that this is exactly where the US dollar is headed. The United States now owes [...]Continue Reading
WASHINGTON - Let’s not mince words. President Obama’s nearly $4 trillion, big spending budget is dead on arrival. No president in our nation’s history has spent as much as Obama or run up more debt. His plan would result in a monstrous $744 billion budget deficit in 2014. It projects the national debt would grow [...]Continue Reading
President Obama belatedly sent his 2014 budget proposal up to Capitol Hill today, containing $3.77 trillion in spending for next year and tax hikes that will affect both rich and poor alike. All told, deficits would still total over $700 billion next year under President Obama’s budget proposal. In his press conference, President Obama claimed [...]Continue Reading
Written By : William Teach By meaningless, I mean it is non-binding, as in “it has no force of law”, as in, it is completely symbolic (Fox News) An exhausted Senate approved its first budget in four years early Saturday, calling for almost $1 trillion in tax increases over the coming decade while sheltering safety [...]Continue Reading
How the budget proposals by Senate Democrats and House Republicans stack up over the next decade: ___ Total spending Senate Democrats: $46.5 trillion House Republicans: $41.7 trillion ___ Total revenue Senate Democrats: $41.2 trillion House Republicans: $40.2 trillion ___ 10-year deficit Senate Democrats: $5.4 trillion House Republicans: $1.4 trillion ___ National debt at end of [...]Continue Reading
The Democrats of the U.S. House of Representatives introduced a budget plan on Monday that includes $1.2 trillion in new taxes and $200 billion in stimulus spending — twice the stimulus spending that Democrats in the upper chamber proposed last week. Meanwhile, House Republicans have put forth a budget plan for 2014 that would cut [...]Continue Reading
The U.S. war in Iraq has cost $1.7 trillion with an additional $490 billion in benefits owed to war veterans, expenses that could grow to more than $6 trillion over the next four decades counting interest, a study released on Thursday said. The war has killed at least 134,000 Iraqi civilians and may have contributed [...]Continue Reading
Triggered by an appearance on Canadian TV, I asked yesterday why we should believe anti-sequester Keynesians. They want us to think that a very modest reduction in the growth of government spending will hurt the economy, yet Canada enjoyed rapid growth in the mid-1990s during a period of substantial budget restraint. I make a similar [...]Continue Reading
I shared a couple of amusing sequester cartoons the other day, and I’ve previously written about the absurdity of anti-sequester hysteria in Washington when all it means is that the federal budget will grow by $2.4 trillion over the next 10 years rather than $2.5 trillion. This Nate Beeler cartoon effectively captures the mindset of [...]Continue Reading
The other day a group of us were at a restaurant. All of a sudden there was a child stomping his feet and stating he was not going to do what he was told. He made a big scene even after he was told that these are the rules and you have to follow them. [...]Continue Reading
WASHINGTON — For the first time since Election Day, President Obama is on the defensive. That’s because on March 1, automatic spending cuts (“sequestration”) go into effect — $1.2 trillion over 10 years, half from domestic (discretionary) programs, half from defense. The idea had been proposed and promoted by the White House during the July [...]Continue Reading
By: Mark LaRochelle According to his 2013 budget, President Barack Obama anticipates about $2.9 trillion in revenues this fiscal year, but wants to spend $3.8 trillion. To make up the shortfall, he needs to borrow another $900 billion, on top of our existing $16 trillion debt. To help him out, congressional Democrats want to repeal [...]Continue Reading
