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Keynesians Are in Panic Mode: Another Desperation Move

Written by Gary North on March 28, 2013

The latest country to invoke panic spending is South Korea. Its economy is faltering. What is needed? A bigger deficit, of course. Then what? More central bank inflation. The central bank is expected to cut interest rates on short-term government bonds next month. All over the world, East and West, the politicians are desperate. So […]

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Head-On Collision: House vs. Senate

Written by Gary North on March 21, 2013

The Senate passed a bipartisan bill this week. Senate Republicans buckled. “Spend, spend, spend!” The House of Representatives is about to offer its version of the budget. “Cut a little bit for the sake of public relations in our districts!” There will be gridlock in March. This will be enough to let 2011’s bipartisan law […]

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Gridlock. Wonderful Gridlock.

Written by Gary North on March 13, 2013

The crunch will come on March 27, when the federal account juggling going on in Washington finally will end. Then sequestration will begin. Congress is deadlocked. Senate Democrats are proposing tax hikes. Surprise, surprise. They want taxes to increase by a trillion dollars over 10 years — the ever-popular “decade game. ” They will also […]

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This Little Piggy: How to Retain $85 Billion in Pork

Written by Gary North on February 22, 2013

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 […]

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Spending Cuts Loom for Pentagon: Automatic Sequestration

Written by Gary North on February 21, 2013

The 2011 budget bill established automatic spending cuts. These will begin on March 1 unless Congress and the President agree on a way to kick the can and run up the on-budget deficit. The whole thing is a charade. The cuts are always cuts in the expected increase in spending, not actual reductions in today’s […]

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