DirectorBlue has provided a summary of the CBO report and its implications for this country. Sorry, there is no good news to be extracted, even from this ostensibly (but not really) independent monitoring agency. Their forecasts are almost always optimistic, if you can call this route to bankruptcy they have produced as optimistic. It will [...]
Tag archives for Spending
Even “eating the rich” in terms of a 100% tax rate will not solve the government’s excessive spending. Watch this video to understand the extent of our problem in terms that anyone should be able to understand. If video does not work, it can be seen here.
This chart from Ironman shows Obama’s spending plans:
Watch this and you will understand how Washington works:
The Daily Bell provides a good source of common sense by cutting through our mainstream media BS and providing more realistic interpretation of events. Their recent take on the budget cuts is not positive: [S]erious critics are beginning to emerge who point out that many of the so-called cuts touted by Republican House Speaker John [...]
The IMF, in a working paper, states We find that, under our baseline scenario, a full elimination of the fiscal and generational imbalances would require all taxes to go up and all transfers to be cut immediately and permanently by 35 percent. A delay in the adjustment makes it more costly. See the paper at [...]