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Shutdown: ObamaCare (No) and the Federal Government (No)

Written by Gary North on September 24, 2013

The House of Representatives is making a symbolic attempt to shut down ObamaCare. The members know that they cannot get this through the Senate. Obama would veto it even if they could. Why are they doing this? Because they can. They can let the voters back home know that they are taking a stand. They […]

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Sen. Reid Says Tea Party Is Winning in the Republican Party.

Written by Gary North on September 13, 2013

Sen. Harry Reid is crying great crocodile tears for House Speaker John “TARP” Boehner. He says that Boehner is dealing with Anarchists: Tea Party members. “As I said on the floor today, the anarchists are winning. Anything that can be done to slow down, hurt or get rid of government any way, that’s good. Shutting […]

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Debt Ceiling Deadline: October 18 to November 5

Written by Gary North on September 11, 2013

So messed up are the government’s books that experts don’t know when the cooked books, which have been cooked since May 17, will finally overflow onto the fiscal stove. It could be October 18. It might be as late as November 5. Officially, the federal debt has not risen by one penny since May 17. […]

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Accounting Miracle: August Deficit Up $146 B. National Debt Up Zero.

Posted on September 10, 2013

It’s all fake. Congress knows it’s fake. The media know it’s fake. It is now a source of great amusement. It’s called “putting the shuck on the rubes.” The voters don’t care or understand. As for the law: Who cares? The federal deficit increased by $146 billion in August, according to a report released today […]

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Will Boehner Capitulate on the Debt Ceiling?

Written by Gary North on September 9, 2013

He has said that there will be no increase in the debt ceiling if there are no spending cuts. There will be no increase in taxes without spending cuts. Obama says he will not accept spending cuts. This is the showdown at the Not OK Corral. Who will blink? Who will back down? If neither […]

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Cooked Books: Debt Limit Pushed Out Another Six Weeks

Written by Gary North on August 27, 2013

The U.S. government’s debt has been locked in at this implausible limit for three months: $16,699,396,000,000. The Secretary of the Treasury says that it will not hit the ceiling until mid-October. The BBC reports this. The country’s borrowing limit is currently capped at $16.7tn (£10.7tn). “Extraordinary measures are projected to be exhausted in the middle […]

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What if House Republicans Refused to Fund ObamaCare This Fall?

Posted on August 14, 2013

Even if Republicans gain the majority after the 2014 elections, they will probably not overcome a filibuster in the Senate to pass an out-and-out repeal. In fact, the Republicans have not had a 60 vote majority in the Senate since 1911.  The time for defunding ObamaCare is right now, given that the President has already […]

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J. M. Keynes: An Anti-Semitic Economic Crackpot

Written by Gary North on July 22, 2013

John Maynard Keynes is universally regarded as the most influential economist of the twentieth century. This assessment is correct. His 1936 book, The General Theory of Employment, Interest, and Money, baptized the deficit spending programs that the Western governments had been following — without success — ever since 1930. His conclusion: more of the same. […]

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Debt Ceiling Will Not Move Until After Labor Day

Written by Gary North on July 17, 2013

The official, on-budget debt of the United States government has hit a plateau. It remains $56 billion below the debt ceiling. It has not moved up for two months. It is locked at $16,699,396,000,000. But the spending continues. The government has spent about $500 billion more than it has received in revenues so far this […]

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