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Reluctant to vote on a bloated budget and be accountable, most House Democrats have decided on the process described in the following article. If it isn’t against the law, it should be. As profligate spending continues (and it will) and huge deficits continue to pile up (and they will), the next big push will be [...]
Posted by Jerry Pomeroy as Best Of the Web, Budgets, Fraud Watch, Taxation at 11:18 AM UTC
Following is a USA TODAY story you may not see in the LA Times. The key phrase in this economic mix is “not sustainable.” A fiscal crisis akin to Europe’s current woes is a question of when, not if. It’s only a matter of time.
“Private pay shrinks to historic lows”
By Dennis Cauchon, USA TODAY
“Paychecks from private [...]
Posted by Jerry Pomeroy as Best Of the Web, Budgets, Economics, Government Blunders, Obama Presidency at 6:11 AM UTC
Following is a Reuter’s news story you’re not likely to read in the LA Times. We’d better get a handle on our nation’s finances before it’s too late. But, is anyone concerned about this?:
(Reuters) – The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in [...]
Posted by Jerry Pomeroy as Best Of the Web, Budgets, Obama Presidency at 2:03 PM UTC
With the passage of Obamacare, federal spending has been set on a course to that house of bankruptcy in the sky. It’s only a matter of time, as Robert Samuelson of the Washington Writers Group points out. Enjoy, I think…
March 29, 2010
Planting the Seeds of Disaster
By Robert Samuelson
WASHINGTON — “When historians recount the momentous events [...]
Posted by Jerry Pomeroy as Best Of the Web, Budgets, Health Insurance Debate, Obama Presidency at 4:14 PM UTC
The Heritage Foundation’s Amanda Reinecker lays bare the charade of President Obama’s so-called spending freeze:
A Grim Fiscal Forecast
February 2, 2010 | By Amanda Reinecker
“In his State of the Union address last week, President Obama vowed that his administration would enforce a three-year spending freeze to help dig the country out of a ‘massive fiscal hole.’ But [...]
Posted by Jerry Pomeroy as Best Of the Web, Budgets, Obama Presidency at 2:49 AM UTC
President Barack Obama just released his proposed budget for the coming fiscal year and if you haven’t read the numbers yet you’d better sit down. The bad news is neatly summarized in an Associated Press subhead: “Record spending, record deficit.” A full third of Obama’s $3.8 trillion proffer will be funded with borrowed money. That’s $1.3 [...]
Posted by Jerry Pomeroy as Budgets, Obama Presidency at 2:46 PM UTC
During the last several decades, liberal Democrats have dominated California politics, but the pinnacle of their power was reached in the first years of this century. Gray Davis was Governor, all 5 statewide offices were held by Democrats and both state legislatures were dominated by Democrats. California had become the Petri dish of liberal wish fulfillment.
Budgets were crafted on [...]
Posted by Jerry Pomeroy as Budgets, Economics, Government Blunders at 5:00 PM UTC
The government of the United States is awash in a sea of red ink. The current debt ceiling of $12.1 trillion will be breached shortly, an event laced with foreboding. With the national debt forecast to exceed $20 trillion during the next decade, a rational person would expect someone in Washington to call a halt [...]
Posted by Jerry Pomeroy as Budgets, Economics at 3:04 PM UTC
The Obama administration has revised its estimated 10-year deficit. The new figure ballooned to some $9,000,000,000,000, and that’s the good news. The bad news is that such government projections are almost always low, sometimes wildly so. For instance, in the 1960s Democrats guessed what Medicare would cost 30 years hence. They were low by a factor of [...]
Posted by Jerry Pomeroy as Budgets, Obama Presidency, Video at 11:30 AM UTC
“Another tricky budget devised for California” headlines the following column by Sacramento Bee writer Dan Walters. Based on what Walters writes, I’ll lay 5 to 2 that the Golden State’s budget will again be in the red before this year is out. Maybe sooner. Please refer to Lone Star Archetype for hints on how to remedy [...]
Posted by Jerry Pomeroy as Budgets, Guest Authors at 5:24 PM UTC