Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Bernanke gave a presentation in front of U.S. Senators, and they all played puppy dogs. Elizabeth Warren, the ersatz Cherokee Indian squaw from Harvard, asked him why the Federal Reserve has not come up with a solution to the “too big to fail” banks. Bernanke said they’re working on it. There were questions about how [...]
Continue reading →We have head about the trillion dollars in automatic spending cuts. It’s headline news. That’s part of the decade flim-flam. The government always reports one full decade’s cuts. But it never, ever mentions in these reports regardung the Congressional Budget Office’s estimate of total federal spending over the decade: $47 trillion. You mean that the [...]
Continue reading →Sequestration begins on March 1. This means spending cuts. Well, not exactly cuts. There will be reductions in spending increases. Both sides are aghast. The thought of a pork reduction program of $85 billion in a budget of $3.8 trillion is horrifying in Washington. Reuters calls such cuts “harsh.” The cuts will go into effect [...]
Continue reading →It was not George W. Bush. Under him, it was raised seven times. Overall, 1939 to today, it was raised 68 times. One President lowered it. This same President used increased taxes to pay for rising government expenditures. And, wonder of wonders, revenues increased. To find out, click the link.
Continue reading →Gary North’s Reality Check “It is said that if you know your enemies and know yourself, you will not be imperiled in a hundred battles; if you do not know your enemies but do know yourself, you will win one and lose one; if you do not know your enemies nor yourself, you will be [...]
Continue reading →On March 1, a piddly reduction of spending is scheduled to take place. It’s not $1 trillion. It’s $1 trillion over a decade. The annual deficit is running $1 trillion, as usual. The thought that there will be a piddly $100 billion in spending cuts and tax hikes has the President terrified. “We cannot cut [...]
Continue reading →In November, consumer confidence was measured at 71.5. Today, it is barely above 58. That is a major decline. This month, the Social Security/FICA tax was hiked on wage-earners. They are becoming pessimistic. They should. The politicians thought a FICA tax hike was a no-brainer. The economy had recovered. The decrease, which began in 2010, [...]
Continue reading →The House Republicans have decided to kick the can. Obama has won. It was an easy victory. There will be another can-kicking on May 19. The Republican party is devoid of either brains or backbone. The prophet Isaiah called Egypt’s Pharaoh a broken reed. “See, you trust in the staff of this broken reed, on [...]
Continue reading →Barack Obama, who did not close Guantanamo, prosecute corrupt bankers, or get American troops out of Afghanistan, delivered his second inaugural yesterday. The address was a judicious combination of platitudes, deception, code words, and a large dose of bloviation at the end. To bloviate is to give long speeches with high-flying words, yet communicate little. [...]
Continue reading →Here is a video that gets the message across: the books are cooked. The boomers will cost $3 trillion a year when they are all retired. There will be a default before all boomers are fully retired.
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