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Tax Cut Extension Is Likely; So Is a Larger Deficit

Written by Gary North on November 30, 2011

Senate Majority Leader Mitch McConnell now says he will back an extension of the payroll tax cut. Democrats favor it. It is perceived as helping the middle class. The Democrats want a surtax on the rich to pay for it. Republicans are unlikely to get on board. “In all likelihood, we will agree to continue […]

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Why Occupy Wall Street and the Tea Party Are Opposed

Written by Gary North on November 23, 2011

Occupy Wall Street is the Left’s belated attempt to counter the Tea Party movement. The Tea Party caught the public’s attention through its spontaneous 2008 protest against the mess that Congress has produced. It is bringing this message to Americans: the government is too big. It spends too much money. It borrows too much money. […]

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Visible Dead End: The Supercommittee Poops Out.

Written by Gary North on November 23, 2011

The congressional supercommittee officially fails today. Gridlock doomed it. Good. It deserved to fail. Only 25% of Americans expected it to succeed. Ron Paul was right. The whole idea was unconstitutional. The U.S. House of Representatives is in charge of the budget, not some joint committee. The whole thing was a sham to get the […]

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$15t On-Budget (Admitted) Debt Limit Breached

Written by Gary North on November 18, 2011

The on-budget debt of the United States government breached the $15 trillion mark this week. This is the debt that is counted. It does not include the unfunded liabilities of Social Security and Medicare, which are now in the $100 trillion range over 75 years. Some estimates are higher. More important is the sources of […]

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Government Pulls the Plug on the Unemployed

Written by Gary North on November 14, 2011

With 9% unemployment, there is little hope for getting a job for those who have been out of work over a year. They are losing skills and losing hope. Now the government checks have stopped for over 50% of them. With an election year coming, Congress may cough up another $45 billion to make payments. […]

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