government debt Archive

Debt Is Rising All ‘Round The World

By John Lumbard. Populism sounds like such a friendly and democratic word.  Only the grumpiest blogger would complain about politicians doing things that make them popular ....  Unhappily, the word "populist" has come to mean a politician who promises cash, services, or benefits to voters.  He doesn't offer to pay for these things...
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Notes from the old New Deal

by Michael Smith. I ran across some historical tidbits about Social Security on the Internet. The first person to receive benefits was Ernest Ackerman, who collected 17 cents in January 1937. Mister, we could use a man like Ernest Ackerman again…and again…and again. He might lead the way to solvency. As it...
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“The Debt The Government Owes Itself For Raiding Social Security”

By James Schaefer. Jonathan Weisman wrote cogently in the Wall Street Journal about addressing the budget deficit (Voters Back Tough Steps to Reduce Budget Deficit, Aug 17, 2010 -- subscription required). He points out that tens of millions of voters are ready to accept tough measures to balance the federal budget, and...
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Addressing Government Debt

By James Schaefer. In the space of just a few months, pundits from across the political spectrum have embraced the need to get our fiscal house in order.  Now the debate is about timing, the right ratio of spending cuts and tax increases, and the nature of the very-political process that's...
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Peter Treadway: Debt and Deflation . . . or Inflation?

By Peter T Treadway, PhD   Historical Analytics LLC www.thedismaloptimist.com “Show me where he sits and I’ll tell you where he stands.”          Old Washington proverb   “As the buyers become less eager and the sellers become more eager an uneasy period of ‘financial distress’ follows… For the economy as a whole, the equivalent is the awareness on...
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Doomsayers can shed the silly costume now

by Michael Smith That the European welfare state amounts to a pyramid scheme—a shrinking work force trying to support a growing population of retirees and welfare recipients—is old news in some political circles, but it’s gotten scant attention from the folks who desperately want America to follow the European model. That’s...
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The Debt, The Deficit, and You

The White House recently projected a $1.6 trillion deficit for 2010.  The deficit is the amount of money the Congress borrows each year, whenever it spends more than it collects in taxes.  This $1.6 trillion is new debt, on top of "the federal debt” that you’ve been hearing about for years, and it’s...
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