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Terror in Washington: The Piddly Sequestration

Written by Gary North on February 6, 2013

On March 1, a piddly reduction of spending is scheduled to take place. It’s not $1 trillion. It’s $1 trillion over a decade. The annual deficit is running $1 trillion, as usual. The thought that there will be a piddly $100 billion in spending cuts and tax hikes has the President terrified. “We cannot cut […]

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Boehner Kicks the Deficit Can Until May 18. Obama Accepts.

Written by Gary North on January 23, 2013

The House Republicans have decided to kick the can. Obama has won. It was an easy victory. There will be another can-kicking on May 19. The Republican party is devoid of either brains or backbone. The prophet Isaiah called Egypt’s Pharaoh a broken reed. “See, you trust in the staff of this broken reed, on […]

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Water on Mars: The Endless Search With Our Tax Money Goes On.

Written by Gary North on January 22, 2013

Two more scientists have said that we — meaning American taxpayers — are close, very close, just-around-the-corner close to discovering water on Mars. Water means life is possible. Life being possible means more money spent to discover life on Mars.  Life on Mars means that the the Bible’s version of life has to be wrong. […]

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“Send New Jersey Our Bailout Money, You Cheap SOB’s!” — Gov. Christie

Written by Gary North on January 3, 2013

New Jersey’s Governor Christie, heart throb of conservative Republicans, wants his bailout money. Hurricane Sandy’s victims are owed $60 billion, Christie says. “Fork it over!” he screams at the House of Representatives. Boehner is supposedly stalling. Christie yells: “Fork it over. . . . now! No more stalling!  You owe us! America owes us!” He […]

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Spending Cuts? Surely, You Jest.

Written by Gary North on December 28, 2012

Quick. How much money will be cut from 2012’s level of federal spending in 2013 if there is no agreement to repeal the Budget Control Act of 2011? Give a ball park estimate. If you answered “none,” you’ve got it right. The so-called sequestration is not a reduction in spending from today’s level. It is […]

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Subsidizing Boeing

Written by Gary North on December 4, 2012

The Export-Import Bank is a subsidy organization. The federal government guarantees the loans made by foreign banks to foreign importers of American goods. If the importer defaults, the U.S. government bails out the foreign lender. This allocates capital away from profit-seeking firms to government-protected firms. The standard defense is thus: “This costs the government nothing […]

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$1 Trillion Bailout: Student Loans

Written by Gary North on December 3, 2012

There is now a proposal before Congress for the government to pay off all the banks that have lent money to students. The government has already changed the bankruptcy law to make it almost impossible for students to escape this debt. But the banks still cannot collect the money. So, it’s Congress to the rescue! […]

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