Tag Archives: us debt

Budget deficit $1 trillion for 4th straight year (2)

The independent scorekeeper of the nation’s debt announced Tuesday that for the fourth straight year the federal budget will run a deficit of at least $1 trillion, injecting deficit politics into a swiftly approaching election and exposing President Obama to … Continue reading

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Steyn: The State of Our Union Is Broke

Had I been asked to deliver the State of the Union address, it would not have delayed your dinner plans: “The State of our Union is broke, heading for bankrupt, and total collapse shortly thereafter. Thank you and goodnight! You’ve … Continue reading

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China braces as Europe’s simmering crisis adds to strains on economy with its own problems (19)

HONG KONG – Europe’s festering debt crisis is adding to strains on China just as the country is pricking its property bubble and facing a manufacturing downturn, limiting the ability of the world’s No. 2 economy to prop up global … Continue reading

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Goldstein: Guilty, guilty, guilty

A sign of how broken the American political system has become is that three years after the global economic crash caused by Wall Street’s massive fraud, Republicans and Democrats continue to blame each other for what happened. In reality, both … Continue reading

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Steyn: SS Spendaholic sailing into debt abyss

I see Andrea True died earlier this month. The late disco diva enjoyed a brief moment of global celebrity in 1976 with her ubiquitous glitterball favorite: “More, More, More How do you like it? How do you like it? More, … Continue reading

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Richardson: Fannie, Freddie CEOs Took Millions, Far More Than Gingrich

Fannie Mae and Freddie Mac are back in the news, as it was recently revealed that Freddie Mac paid over $1 million to presidential candidate and former Speaker of the House Newt Gingrich to be a consultant. Gingrich maintains he simply gave … Continue reading

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Big banks binge on Bush-Obama ‘venture socialism’

Largely out of the media spotlight, the federal government operates a network of financial subsidy programs that benefit big banks by putting taxpayer money at risk. And President Obama, that self-styled populist scourge of Wall Street, is increasing this racket … Continue reading

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Spengler: What do we want from Wall Street?

Recently a distinguished jurist asked me, “How is it possible that the financial industry – the smartest guys out there – did so many stupid things?” In fact, the financial industry is full of people who know perfectly well that … Continue reading

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Goodspeed: Adapting the U.S. forces for a frugal era

Over the next two months, tens of thousands of U.S. troops in Iraq will pack up their gear and head home, ending nine years of war and a painful era of American history. Under the terms of a 2008 bilateral … Continue reading

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Blumer: Three Years, $4 Trillion, and ‘All the Right Choices’ Later

On October 14 (a Friday, naturally), Tim Geithner’s bunch released the final Monthly Treasury Statement of the 2011 fiscal year. It showed that for the third consecutive year, the federal government’s reported deficit was well over $1 trillion — $1.298614 trillion, … Continue reading

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Once prosperous New Yorkers forced to live under canvas in New Jersey woods

The white picket fence and manicured flowerbeds outside 1 Paradise Lane are straight from a picture postcard of idyllic suburban American life in the 1950s. But its walls are no more than canvas. Its porch overlooks smouldering bonfires and scrawny … Continue reading

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