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national debt

Whose Deficit? (Graph of the Year)

by: Douglas E. Lindner

Mon Jul 26, 2010 at 22:25:53 PM EDT

Concerned about the deficit? This is a must-read for voters looking for the party of fiscal responsibility. Whose fault are these things:

Stick that in your tea and sip it.

(h/t The Rachel Maddow Show)

Discuss :: (3 Comments)

Dumb or ...?

by: bloomingpol

Sat Feb 20, 2010 at 17:05:37 PM EST

Steve Benen had a diary today, and here's another example of the sheer...well, I am not sure what exactly to call it.  Perhaps politely, economic ignorance or sheer gall.  
There's More... :: (2 Comments, 302 words in story)

On Crying Wolf, Or, Why I Don't Want To Give You $700 Billion

by: fake consultant

Wed Sep 24, 2008 at 17:11:18 PM EDT

As this is being written we are in the midst of the second day of testimony before Congress by Ben Bernanke and Henry Paulson in support of the Administration's proposed financial rescue package.

The basic sales pitch is that the Nation's financial problems are at this moment so severe that the only solution is to expose to risk $700 billion dollars of taxpayer money to buy assets with a currently unknown price...and to give the absolute and total power over what those valuations are, what should and should not be bought, what repayment terms will be sought-and additionally, what happens to any money recovered--to one man, Henry Paulson.

There are those who are not on board. They have critics, who continue to stress the dire consequences of inaction.

With all due respect to those critics...we have been down this road before with this Administration-and last time, they weren't so big on telling the truth...or getting the job done effectively.

We'll cover that ground, we'll talk a bit about "mark to market" issues-and on a positive note, we'll address the role of "warrants", the negotiating power of Warren Buffett, and how the taxpayer could actually see substantial recoveries of money down the road.

There's More... :: (1 Comments, 1694 words in story)

Drill? Let Our Children Decide

by: Chaz Proulx

Sun Jun 22, 2008 at 19:55:24 PM EDT

When I got my driver's license in 1966 the national debt was low and gas was 25 cents a gallon.

Today every newborn American child assumes $30,000 of our national debt. That number continues to grow. Nearly every cent of this money is attributable to the Republican supply--siders from Reagan to Bush. We owe more to China alone than my generation can possibly pay. And don't forget that the trillions of dollars that Iraq will cost us aren't even on the books. Our debt grows every day and we are leaving the whole mess to our children.

Now the crooks that sold us out are now trying to grab everything they can while Bush is still in office. It doesn't occur to them to leave what's left of our natural resources to our children and grandchildren. It doesn't occur to them that our children will face monumental environmental issues. Nope, George Bush, the oilman and President, (in that order) is selling the idea that America's pain at the gas pumps can be solved by drilling immediately.

Does anybody still trust this guy and his parrots from D.C. to New Hampshire? The whole bunch including the Union Leader, Fergus Cullen and a slew of Republican candidates are braying in lock step on this one.

Enough!

Here's a novel idea: Let's let the next generation of Americans decide what to do with our untapped oil reserves.

Under Republican policies we've squandered eight precious years. For eight years Republicans favored big oil over working Americans. For eight years Republicans ignored the environment. For eight years Republicans ignored green business opportunities and alternative energy development. For eight years Republicans gave mileage breaks to SUV's and ignored the need for efficient automobiles. That was great for Detroit, but as usual when crunch time comes, it's the Japanese and Europeans who are ready.

So why, why, why, can't Republicans at least leave something for future Americans?

Why can't Republicans see where this self-defeating greed is leading us?

I expect my "markets-are-always-right" friends to claim that I don't understand the realities of business cycles and investment in exploration and technology blah blah blah.

Baloney to that!

It's time for big oil and the party of big oil to adjust to the realities of American life not the other way around. Let the companies keep their profits. They've stuffed their pockets. Good for them, may they enjoy it.

But, would it be too much to expect our oil industry and the Republican Party to think about America's future instead of exploiting American's pain at the pumps?

Nah! Not this crowd.

They don't have it in them.  

Discuss :: (2 Comments)

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