With the number of of government officials… and at least one mega-billionaire… taking potshots at Standard and Poor’s over the US debt downgrade, it’s appealing to hear a few more voices emerging and willing to recognize the ongoing debt debacle for what it is, and even at the expense of perhaps somehow not sounding patriotic.
[Read more...]Zakaria: US Policy is Sad Mixture of Political Payoffs and Ideological Positioning
August 9, 2011 By Leave a Comment
Moody’s Gazes Upon US Debt Debacle While Congress Turns a Blind Eye
June 3, 2011 By Leave a Comment
Moody’s Investors Service has turned up the heat on US politicians, threatening a US debt downgrade as soon as July unless the Congress shows some backbone in planning on how to curb deficits. The problem is, of course, the over $14 trillion debt ceiling… a levee now on the verge of bursting.
[Read more...]Congress Needs a New Pair of Eyeglasses
August 11, 2010 By Leave a Comment
Sky-high spending has become commonplace in the US Congress, among Democrats and Republicans alike, and it’s the taxpayer that foots the bill. It’s time for a budgetary check up.
And, if it’s not an ordinary vision problem, the big spenders may be colorblind… unable to tell the difference between the black and red ink.
[Read more...]Typical Family Mired in Debt, Like the US
July 23, 2010 By Leave a Comment
Uncle Sam’s talking the talk, but not walking the walk when it comes to the blackhole of debt. It's not just the highest level of government… the nation is overwhelmed by debtors at the household, municipal, and state levels, as well. Following the federal example, we assume.
Perhaps Congress will eventually step up to the plate, to cut back on spending and develop a tax plan more in line with the nation’s actual fiscal health. If not, maybe this is a pair of kids we are best selling off.
[Read more...]An Economy Not Built on Solid Ground
July 20, 2010 By Leave a Comment
Faced with crisis, the White House and Congress turned to fiscal stimulus that's not only itself unsustainable, but that's also unable to provide a firm foundation for lasting recovery.
Sooner or later, the US will have to pay the piper in the form of reduced government services, some more needed than others, and substantially higher taxes for households and businesses. This is one trillion-plus-dollar beast that could stand to benefit from a leak.
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The (Infrastructure) Bank That “Abandons the Bought Congress”
Dylan Ratigan, formerly host of CNBC’s Fast Money and now host of MSNBC’s The Dylan Ratigan Show, created quite the spectacle yesterday… freaking out in a surreal, but sublime, fashion about the failures of the president and Congress. In a tirade where he refers to “10s of billions of dollars being extracted from the USA… an integrated entire system, financial system, trading system, taxing system… created by both parties over a period of two decades at work on the entire country.”
[Read more...]