Brian Riedl for Prager University discusses the national debt – the fact that every year, like clockwork, it continues to grow.
No matter who is in the White House or who controls Congress and the Senate doesn’t seem to matter at all. Deficit spending continues to grow and the national debt continues to balloon.
And no one seems to care. read more
Fiscally speaking, we conservatives have for years been saying there’s not a dime’s difference between the two parties. Well, here’s further proof.
from Conservative Review:
The bipartisan spending binge is now worse than under Bush and Obama
We’re now $22 trillion in debt, yet despite all that red ink, the Mexican cartels have control of our border and we’re not one bit closer to spending money on our own security. We’ve gone into deep debt for everything except the core function of the federal government. read more
by: Brent Smith at the Common Constitutionalist
Scroll Down for Audio Version
In 2015, about 65% of the entire federal budget of $3.8 trillion was spent on entitlements like Social Security, Medicare, Medicaid, housing assistance, and such. But this can’t possibly be the cause of the national debt and permanent deficit spending. No – of course not. It’s the Trump tax cuts that are killing us. The fact that they’re only months old is completely immaterial.
The socialist Nanny-State has been constructed over a period of about 80 years, where as tax cuts have been few and far between, happening only four times since JFK initiated the first. Yet are we expected to believe that it is not entitlements which are blowing up the budget, but tax cuts.
Now what idiot would believe such a thing? Unfortunately, considering the source of the claim, many will tend to believe such a ridiculous assertion.
And the source is none other than Janet Yellen, former Chief of the Federal Reserve. She also served as Chair of President Bill Clinton’s Council of Economic Advisers – so she’s got that going for her. read more
from Rand Paul for the Washington Examiner:
Sen. Rand Paul: The debt and the decline of empire
I ran into a couple of GOP senators the other day. They were talking about the fall of the Roman Empire (who knew senators might actually discuss history?). One senator made the point that Rome’s fall corresponded with a loss of values, which of course has some merit. But that’s missing the bigger picture. I responded that perhaps their decline had something to do with being overextended militarily, knowing that they would likely reject this point since it might imply that the United States, also, might be faced with the same future.
History certainly has lessons, but it’s amazing that after 2,000 years we still draw different conclusions. I couldn’t resist to jab them a little: “You know our own decline will ultimately come when we can’t manage our debt.”
The world is teetering on the edge of a global financial meltdown. That’s a bit of a downer, isn’t it? But unfortunately it’s true. Global debt has risen to a new record of $217 trillion. That’s almost a quarter of a quadrillion – an unimaginable number. Even worse – it may be too late to fix it.
Smartphone users may be affecting the long term health of our necks and backs due to protracted use of smartphones while walking. And it also makes all look like 80 years olds – shuffling down the street, trying to avoid running into, or falling into something. read more
by: the Common Constitutionalist
No Audio Version
2017 will prove to be a very interesting year. Oh sure, Trump’s first 100 days will be chock full of excitement, controversy and consternation. But we should also look forward to, or be prepared for reports from the left on a whole host of issues that have gone unreported or misreported for eight long years.
All of the sudden we should begin to see some honest reporting, now that they will no longer need to shield the public from the folly which has been the Obama presidency and the Obama economy.
Isn’t it funny that Janet Yellen and the Federal Open Market Committee (FOMC) have decided now to begin raising interest rates. In the eight years of the booming Obama economic recovery, this is only the second interest hike. The first was a year ago, almost to the day, and that was the first since 2006. And one could easily argue that this last hike of 0.25% is barely on Obama’s watch, as it will have no effect on his presidency.
But they had no where else to go but up. Not that I’m a fan of rate hikes, but prior to last years pitiful 0.25% hike, the Fed’s interest rate had been at 0.0% for the previous seven years, when the FOMC knocked it down to zero in December 2008. read more
The least dispiriting moment of another grim week in Washington was the sight of ornery veterans tearing down the Barrycades around the war memorials on the National Mall, dragging them up the street and dumping them outside the White House. This was, as Kevin Williamson wrote at National Review, “as excellent a gesture of the American spirit as our increasingly docile nation has seen in years.”
Indeed. The wounded vet with two artificial legs balancing the Barrycade on his Segway was especially impressive. It would have been even better had these disgruntled citizens neatly lined up the Barrycades across the front of the White House and round the sides, symbolically Barrycading him in as punishment for Barrycading them out.
But, in a town where an unarmed woman can be left a bullet-riddled corpse merely for driving too near His Benign Majesty’s palace and nobody seems to care, one appreciates a certain caution. read more
The country’s national debt is now so high, over $16.7 trillion, that if the figure was converted into $5 bills it would stretch almost to the moon.
According to the latest available data from the U.S. Treasury, the total public debt outstanding is $16,738,105,803,858.21, while the distance between the earth and the moon is 238,857 miles.
Since President Obama took office the figure has increased by more than $6 trillion, the largest increase to date under any U.S. president.
A graphic representation of how far the U.S. national debt would reach to the moon if pile up in $5 bills – 2013 vs 1981
During the eight-year presidency of George W. Bush, the debt soared by $4.9 trillion.
On January 20, 2009, the day President Obama took office, the debt stood at $10.626 trillion. The latest posting reflects an increase of over $6 trillion.
The current national debt figure is also the highest since the end of the second world war. Every man, woman and child in the U.S. currently owes $55,091 for their share of the U.S. public debt.
Of the $5.1 trillion dollars of debt owned by foreign governments, nearly half is owned by China and Japan.
In 1981, President Ronald Reagan famously said that a stack of $1,000 bills equivalent to the U.S. government’s debt would be about 67 miles high. In $5 bills that would only have reach 13,400 miles.
Under President Obama the debt has increased more than $6 trillion, while President Bush added $4.9 trillion
U.S. NATIONAL DEBT ALMOST REACHES TO THE MOON: HOW IT ALL ADDS UP
- The national debt currently stands at $16,738,105,803,858.21
- A dollar bill is .0043 inches in thickness
- $16,738,105,803,858.21 multiplied by .0043 equals 71,973,854,956.59 inches
- 71,973,854,956.59 divided by 12 is 5,997,821,246.38 feet
- A mile is 5,280 feet in length
- In $1 bills the national debt would stretch 1,135,951 miles into the air
- In $5 bills that equates to 227,190 miles
- The Earth is 238,855 miles from the moon
- Difference 11,665 miles
Attribution: Mail Online
Ben Bernanke has a message for Wall Street and Main Street: Don’t worry, expect no big changes in Fed policy — unless the economy changes in a major way. Don’t hold your breath.
No question, the nation’s top banker has a tough job convincing investors, producers and lawmakers he’s doing the right thing for the economy. The problem is, the Fed has a long track record of making big mistakes, but often doesn’t know until years later.
And it might be making one now.
While some speak of the Fed’s “success,” holding interest rates at zero and buying $85 billion a month in Treasuries — the Fed now owns more than $3.5 trillion in U.S. debt, up from $900 billion just a few years ago — this hasn’t brought us a normal economic recovery.
Indeed, despite the incredible stimulus, inflation remains below the Fed’s 2% target. GDP growth is averaging an anemic 1.7% in the past year.
All told, the economy is just 3% bigger than at the end of 2007, when the recession began. By comparison, in a normal recovery GDP is usually up 16% or more this far into a recovery.
Unemployment of 7.6% isn’t close to satisfactory. And since last year all of the net U.S. jobs created have been part-time positions; it’s obvious we’re in an unprecedented employment crisis.
Senate Democrats Endorse Continued Advertising of Food Stamps in Mexico
Are things not good for you and your family in Mexico? Come on! Cross the border and we will fix that. We are roughly 17 trillion in debt but as long as there are printing presses, monopoly money and socialist idealism we will feed you.
Enough is enough. If people cannot see the real agenda of the socialist movement in America then they are more than ignorant. They are just plain stupid. I’m sorry but certain things make no sense.
On Thursday there was a proposed amendment sponsored by Senate Republican Jeff Sessions of Alabama. The amendment never made it out of committee and if a common sense idea doesn’t make it out of committee, it doesn’t exist in this country, at least in the eyes of the mainstream liberal media. I am neither a journalist nor a liberal so I will certainly share it with you.
Sessions offered a common sense proposal to cut off advertising for the food stamp program on foreign soil. OK now, show of hands… How many people even know that we advertise our government benefits in foreign countries? What I am about to tell you is exactly why you cannot trust anything the left proposes for immigration reform.