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Afghanistan: $1 Trillion, or $1.7 Trillion, Not Counting Medical Care

Posted on December 15, 2014

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The Afghanistan war, the longest overseas conflict in American history, has cost the US taxpayer nearly $1tn and will require spending several hundred billion dollars more after it officially ends this month, according to Financial Times calculations and independent researchers. Around 80 per cent of that spending on the Afghanistan conflict has taken place during […]

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Video: Visualizing $17 Trillion

Written by Gary North on December 2, 2014

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The on-budget debt of the U.S. government just went over $18 trillion. This is chump change. The government’s unfunded liabilities (off-budget) of Social Security and Medicare are about $200 trillion. That is serious money. But let’s look at chump change. This lets you visualize $17 trillion.

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The Effects of Student Loan Debt

Written by Gary North on October 9, 2014

A student whose parents have looked out for him — and for themselves — can earn a B.A., degree at an accredited university for under $15,000, usually by age 20, but in some cases by age 18. The man who supervises the daily mailing of this report received his B.A. in the month he turned […]

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“Full Faith and Credit” and Related Delusions of Grandeur

Written by Gary North on October 8, 2014

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Approximately half of all Americans receive government subsidies of one kind or another. This is seen by some conservatives as the demise of the American Republic, the death-knell of resistance to the welfare state. It is nothing of the sort. It is strong evidence of the opposite: the high-water mark of the American welfare state. […]

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$777 Billion Deeper in Debt–Fiscal 2014

Posted on October 1, 2014

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The U.S. Treasury needed to pay off a record of approximately $7,546,726,000,000 in maturing Treasury securities in fiscal 2013, which ended last Monday, according to Treasury’s official accounting. During the same period, the Treasury turned around and issued another $8,323,949,000,000 in new Treasury securities. The spread between the old debt held by the public that […]

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Murray Rothbard, 1; Jim Willie, 0

Written by Gary North on September 26, 2014

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One year ago, Jim Willie made a big mistake. He wrote off Murray Rothbard as a dolt. He did not mention Rothbard by name. He was too smart for that. He simply dismissed Rothbard’s description of how the Federal Reserve System works. Jim Willie thought he knew better. I warned him about this. He ignored […]

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