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Posts Tagged ‘debt’
CBO tells Congress the deficit is unsustainable
The Congressional Budget Office informed Congress this week that the growing budget deficits will cause debt to rise to unsupportable levels, eventually reaching an undetermined tipping point that will cause another financial crisis. As of now, federal debt stands at 62% of GDP. The last time it exceeded 50% was...
Florida’s Rubio releases plans to reduce federal spending
Marco Rubio, the GOP nominee for the U.S. Senate in Florida, has released a dozen proposals aimed at reducing federal spending. Rubio joins with other Republican candidates who are promoting shrinking the federal government and reducing its workforce as a part of their 2010 campaign platform. Rubio said that “Every...
Democrats continue free spending ways, even in face of daunting deficits
Speaker Nancy Pelosi continues to follow the Democratic Party’s line that government spending will help to stimulate the economy: Pelosi said that increasing unemployment benefits is one the best ways to stimulate the economy and create jobs. In an election year where the economy and fiscal issues are the top...
TAKE ACTION: Oppose The New Tax Extenders Bill – UPDATE
[activate url="http://act.libertycentral.org/9/3255/stop-deficit-spending-stop-latest-stimulus-vote-no-on-hr-4213/" target="_self" is_slanted="false"] Last week, citizens received a rare bit of good news from Washington: the Tax Extenders Bill, also known as the American Workers, State, and Business Relief Act, HR 4213, failed to pass the Senate by a vote of 45-52 (this is the same bill that passed...
Gorilla in the Room: Size of the National Debt
So you think $14 Trillion in debt is bad? Yes, that’s around 90% of GDP, and yes, that tends to prevent the economy from growing according to most economists, but according to an excellent piece by Kevin Williamson in National Review this week, we “ain’t seen nothin’ yet.” Williamson writes:...
Big Labor Becoming Unpopular with the American People
New Jersey Governor Chris Christie has made headlines for his battle against the Teacher’s Union, the New Jersey Education Association, arguing that their salaries and benefits packages, now better than many in the private sector, are part of what’s bankrupting the state. This trend is not limited to New Jersey,...