Posts Tagged ‘debt’

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    A Budget Cut Mirage

    Feb 12, 11 • 241 Views • No Comments

    Reacting to concern about the federal deficit, the Republican leadership seems to be targeting $100 billion in discretionary spending cuts. Similarly, for his fiscal 2012 budget, President Obama recommends a 5-year freeze on non-security discretionary...  [read more]

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    Raising the Ceiling

    Jan 7, 11 • 217 Views • No Comments

    Calvin Coolidge once said, “Nothing is easier than spending the public money. It does not appear to belong to anybody. The temptation is overwhelming to bestow it on somebody.” The national debt did decrease when Coolidge was President. But then...  [read more]

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    Who Do We Owe?

    Dec 4, 10 • 240 Views • No Comments

    Who do you think is the biggest holder of U.S. government debt? China? No. It is the U.S. government. Why? Please think about extra money the government might collect for Social Security. What does it do with those funds? Retaining cash would mean no return...  [read more]

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    Virginia and Germany

    Dec 1, 10 • 188 Views • No Comments

    “Where…is the justice of compelling a State which has taxed her citizens for the sinking of her debt, to pay…the debts of other states, which have made no exertions whatever?” This quote, from John Steele Gordon’s,...  [read more]

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    Independence and Printing Money

    Jul 5, 10 • 276 Views • No Comments

    Having just celebrated July 4th, I’ve been thinking about 1776, the American Revolution, and money. At the time, money frequently determined who won and lost wars. When countries ran out of money, they had to stop fighting. Great Britain had sufficient...  [read more]