Obama’s 10-year Deficit at $9 Trillion
The Obama administration is expected to release a report soon estimating that the 10-year budget deficit for the United States will be roughly $9 trillion, up approximately $2 trillion from the...
Economic Commentary
U.S. To Become “Banana Republic,” Says Senator
According to Senator Judd Gregg (R-N.H.), the United States is on its way to becoming a “banana republic” within 10 years. ...
Stimulus Scam Redux?
Item: President Barack Obama, reported the Bloomberg news agency for July 11, “said his $787 billion stimulus bill ‘has worked as intended’ as he pushed back against Republican criticism that his...
U.S. Incomes Fall 1.3 % in June
According to the latest figures from the U.S. Department of Commerce, Americans’ personal incomes dropped 1.3 percent in June, the biggest drop in four years. ...
Bailed-out Bankers Bag Big Bonuses
Nine financial firms that received a total of $32.6 billion through the government's Troubled Asset Relief Program (TARP) paid their top traders and bankers more than $5 billion in bonuses last...
Dollar Values Plunge Worldwide
Just call it irony. The same day the value of the dollar plunged to a current-year low as measured against six other major currencies, and the same week in which the...
Bernanke’s Public Relations Offensive
Federal Reserve Chairman Ben Bernanke must know he’s in trouble. This week he completed a “town hall”-style meeting for PBS television to promote the Federal Reserve and suppress what appears to...
CBO to Congress: Spending & Debt “Unsustainable”
Congressional Budget Office Director Douglas W. Elmendorf gave a fiscal wake-up call to Senate Budget Committee members in testimony on July 16, noting that “the federal budget is on an unsustainable...
Fed Backers Scared by Ron Paul’s Audit Bill
Congressman Ron Paul’s H.R. 1207, calling for an audit of the Federal Reserve, has attracted 270 cosponsors in less than five months. The Republican congressman's bill has received strong bipartican support,...
Gregg Knocks Obama Deficits
Sen. Judd Gregg, R-NH, knocked the spending plans of the Obama administration Tuesday, one day after the Treasury Department announced the deficit reached the $1 trillion mark at the end of...
Recession Far From Over, Says Zuckerman
The economy isn’t out of the woods yet, not by a long shot. That, at least, is the conclusion drawn by none other than U.S. News & World Report’s eminence grise...
VP Biden: “We misread the economy” and other lies
Asked by This Week’s George Stephanopoulos about the Obama Administration’s terrible economic prognostications in advance of passage of the $787 billion “stimulus” spending bill back in February, Vice President Joe Biden...
Free Bernie Madoff? That’s a Little Too Much
The Ludwig von Mises Institute’s Jeffrey Tucker recently published a column entitled "Free Bernie Madoff," in which he makes the case for freeing the $67 billion swindler. ...
California’s Economic Implosion
California, the "Golden State," is not golden anymore. It has the biggest debt, the biggest budget deficit, the lowest bond rating, and (arguably) the highest taxes of any state in the...
Calif. Bonds Totter as State Issues IOUs
Back in February, California politicians and taxpayers received a wake-up call, but, apparently, the alarm wasn't loud enough to wake them. ...