Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
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Ron Paul is getting a hearing from young voters and old ones. Both age groups think the two major parties are corrupt. This is not limited to the United States. Across Europe, the established parties are facing revolts. This is a prelude to real political change. The voters did not care until it hit their [...]
Continue reading →The Mariana Islands are legally inside the United States — just not geographically. The retirement fund was $640,000,000 in the hole. So, it filed for bankruptcy. There will be many imitators. It was a defined benefits plan. Nobody sets these up any more. It was under 40% funded. That should have been a tip-off to [...]
Continue reading →The job market is rotten. College grads cannot get anything except fast food jobs. Meanwhile, they have $25,000 of debt. The Associated Press looked at the data published by the government. Kids with degres in science and engineering can get jobs. Median wages are down from 2000 in the liberal arts. Andrew Sum, director of [...]
Continue reading →An article in the Wall Street Journal reports on the plight of heavily indebted ex-students whose lives have been disrupted by debt. They did not count the cost. One woman went into debt for $74,000 to earn a degree in business management. Should could have earned that degree in two years by distance learning for [...]
Continue reading →Ben Bernanke sees that the present deficit is not sustainable. He has repeatedly warning Congress that a crisis is brewing if Congress will not call a halt to the deficit. Congress of course kicks the can. It is interesting that CNN, an Establishment media outlet, has called attention to Bernanke’s warning. Consider this. Official Congressional [...]
Continue reading →There are 1,200 people in New Jersey who pull pensions of more than $100,000 a year. Across the nation, the state pension systems are creating red ink for state and local governments. The unions negotiated these deals. Now the taxpayers are trapped. Of course, they are not trapped. These states and municipalities can declare bankruptcy, [...]
Continue reading →The IRS needed more money in order to enforce Obamacare. It will get half a billion dollars by September. That should suffice for a year or so. Maybe. If the Supreme Court strikes down this monstrosity, will the IRS give the money back? I doubt it. This is only a fraction of the money sent [...]
Continue reading →The U.S. government is spending $133,000,000 to renovate a government office building in Portland, Oregon. It will make the building “green.” It will plant shade trees — 18 stories of shade trees. The savings are officially estimated to be $280,000 a year. A critical story in the American Spectator reports that this will take 475 [...]
Continue reading →How many people work for governments in the United States. Let’s look at the numbers. The usual estimate of the number of employees of the U.S. government is 2.8 million. The estimate is fake. This does not count military personnel. But most important, it does not count contract workers paid by the federal government. The [...]
Continue reading →State and local governments already owe $4.4 trillion in pensions fund obligations. This is growing daily. The one sector of America that is dominated by unions is government. Unions have disappeared in the rest of the economy. There can be no doubt that state and local governments will not be able to pay all of [...]
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