President Obama’s administration has been blamed for reckless spending that has put America into its debt hole. But in reality, much of that spending emanates from policies of George W. Bush.
deficit
Column: There has to be more than tax cuts
My latest column in The StarPhoenix. I’ll add in some extra link later today but for now I need to get some work done for my other employer. Since the end of the Super Bowl, I have been following the National Football League lockout and the litigation surrounding it. I have concluded that the hard-line [...]
The deficit we imagine vs. the deficit we have
The New York Times is reporting on the deficit and debt ceiling fight that is happening right now. Eventually, the country will have to confront the deficit we have, rather than the deficit we imagine. The one we imagine is a deficit caused by waste, fraud, abuse, foreign aid, oil industry subsidies and vague out-of-control [...]
The Shape of Things To Come
60 Minutes had a feature on the budget crisis’ that are happening at the state level. Stay with me on this one. "The most alarming thing about the state issue is the level of complacency," Meredith Whitney, one of the most respected financial analysts on Wall Street and one of the most influential women in [...]
England of 2011 will like like England of 1931
Stinging critique of David Cameron’s deficit fighting by Paul Krugman Both the new British budget announced on Wednesday and the rhetoric that accompanied the announcement might have come straight from the desk of Andrew Mellon, the Treasury secretary who told President Herbert Hoover to fight the Depression by liquidating the farmers, liquidating the workers, and [...]
Move over California, Illinois is broke as well
From The New York Times Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing memo. He picks the papers off his desk and points to a figure in red: [...]
Deficits are Devine
Well it’s official, deficit financing on the scale not seen since the Devine era is back in Saskatchewan. The government of Saskatchewan is going to run a billion dollar deficit this year based on the fall of potash prices. As told by the Star Phoenix. The release of the government’s mid-year financial report Thursday shows [...]
What’s at Stake?
Several people sent me this link about what is at stake with the United States running $1 trillion deficits. The non-partisan Congressional Budget Office has also said the U.S. budget deficit will swell to a record $1.186 trillion in fiscal-year 2009 and come in at $703 billion in the 2010 fiscal year, which begins October [...]
