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

Posted on December 15, 2014

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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Boehner Buckles, Gives Dems the Fiscal Farm: $1.1 Trillion

Written by Gary North on December 10, 2014

John Boehner wants to give Obama everything Obama wants — a huge spending bill: $1.1 trillion. This will fund the full fiscal year, not for two months until the Republicans take over the Senate. Senate Democrats are not budging. Why should they? Boehner is giving them the farm. Republicans won in November. ‘Twas a famous […]

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The Amnesty That Matters Most

Written by Gary North on November 17, 2014

I am going to write four words. I want you to memorize them. Every time you read about the debate over amnesty, I want you to think of these four words. They would make a great bumper sticker. They would easily fit on Kim Kardashian’s $65 million behind: two on one cheek, two on the […]

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“Full Faith and Credit” and Related Delusions of Grandeur

Written by Gary North on October 8, 2014

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

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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A Liberal’s Despair: Obama the Deficit Cutter

Written by Gary North on July 5, 2014

At first, I thought this article was a parody. Then I realized the author is serious. The title: Obama’s greatest failure: The rapidly falling deficit. The author writes: Ever since 2009, when the recession and the stimulus package pushed the annual budget deficit to a peak of nearly $1.5 trillion, it has been falling steadily. […]

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Median Household Income Down 9% Since 1999

Written by Gary North on May 22, 2014

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David Stockman has offered a useful table. It reveals that median household income in the United States peaked in 1999. Since then, adjusted for price inflation, it is down by 9%. The Federal Reserve pumped in trillions of dollars in fiat money. The U.S. government has run trillions of dollars in deficits. Stockman’s conclusion is […]

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The American Empire vs. Your Retirement Prospects

Written by Gary North on May 5, 2014

Back in the late 1950’s, I used to sell records to Leonard Wibberley. He had a long gray beard, and he drove a white Jaguar convertible. You have probably never heard of Leonard Wibberley. But he was important in my life. He taught me about American foreign policy. He was a novelist. His most famous […]

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Deficits Under Obama: 5 of the 6 Largest

Written by Gary North on October 31, 2013

President Obama so far has presided over five of the six largest annual budget deficits that the U.S. government has ever run. Fiscal 2013 ended ended on Sept. 30. The deficit was $680 billion. In fiscal 2012, the deficit was $1.1 trillion. In fiscal 2011, it was $1.3 trillion. In fiscal 2010, it was $1.3 […]

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