Financial Crisis Ahead

It happened in New Zealand in 1984, in Sweden in 1994, and in Canada in 1995.  Each of these nations suffered a painful financial crisis, slashed the size of its overgrown welfare state, and returned to health.     That’s where we’re headed in the next decade.  We’re running trillion-dollar deficits, and Medicare runs out of...
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Jefferson Says

“The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”                                                 -- Thomas Jefferson, 1816.   Our federal deficit is larger than a trillion dollars a year, so each year the debt our children will carry grows by more...
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Competing For Tax Revenue

Wealthy Brits are buying homes on the island of Guernsey, says The Economist,  so they can easily move there if Jeremy Corbyn is elected.  Corbyn wants to apply the 45% tax rate to those making just $105,000, and establish a new 50% rate.  And create a wealth tax, and raise...
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Bipartisanship Blooms!

The President, the Speaker of the House, and the Senate Minority leader shared a celebration of goodwill and harmony recently, in agreeing to spend TWO TRILLION DOLLARS on infrastructure.   Yes!  Let’s pick a gigantic round number first, and then come up with a list of ways to get the biggest political impact!  So far...
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Swindling Children

Yale, a bastion of privilege with an endowment that exceeds $25 billion, has proudly announced that tuition for the coming school year will cost $55,500. If you want room and board you’ll have to cough up a total of $72,100. The price of education has soared to ridiculous levels because...
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Another Year, Another Trillion

The federal debt has crossed $22 trillion. That's $67,278 per American, including babies---and a rapidly-growing population of elderly citizens who receive checks from the government but no longer pay FICA. Their lifelong contributions to Social Security and Medicare were spent during their working years, and all that's left...
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A Balanced Budget Amendment to the Constitution

If we were to  pass a balanced-budget amendment to the Constitution ("BBA"), the federal debt would still go up each year.  Congress has a bagful of tricks that it uses to skirt any form of discipline, from "off-budget" spending to the cleverness of the  "Unified Budget" (which effectively seized the...
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Interest

Average student loan debt in New Hampshire is more than $33,000, and the national total is now $1.5 trillion.   But it's those same young college graduates who will bear the burden of our national debt, now $21 trillion, up from just $2.5 trillion in 1988.  The debt doubled to $5...
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Your Future

A few weeks ago the debt passed 21 TRILLION DOLLARS, but I was out to lunch with the rest of America.  Pollsters say that hardly anybody cares about the debt any more.  Deficits stimulate the economy, right?  Doesn't that mean jobs? Ummm, that sort of "stimulus" is a dubious way to try...
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It Wouldn’t Cost Anything At All

The United States spends as much government money on health care as do the socialized health care systems of Europe.  States and our federal government now spend nearly two trillion dollars a year on health care.  That’s more, as a % of GDP, than Canada and the U.K. spend on...
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