Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Written by Gary North on October 1, 2012
The U.S. Postal Service owes $5.6 billion to pay into its unionized workers’ health fund. It does not have the money. Let’s call this delay what is really is: a default. It is a prelude of things to come to the entire U.S. government budget. This is the second time in two months that the […]
Continue reading →Written by Gary North on September 13, 2012
The U.S. Department of Education spent $1.4 billion in 2011 to track down students who are in default on their government-guaranteed loans. The total amount in default was $76 billion. If this program were titled accurately, it would be called the “Blood Out of Turnips” program. There is no way that the government is going […]
Continue reading →Written by Gary North on September 12, 2012
Some rich people have no common sense. A student can earn an accredited college B.A. or B.S. degree for around $15,000. Maybe a little less. Yet we read of this guy’s supposed dilemma. He says he will end up spending about 1.5 million dollars on college expenses for his five daughters. These days, average student […]
Continue reading →Written by Gary North on August 9, 2012
The Cato Institute has released a report on the extent of corporate welfare payments by the U.S. government in fiscal 2012. It estimates that the total package is $100 billion. Of course, this was more than offset by the costs of federal regulation. As to which companies won, net, has not been traced, nor is […]
Continue reading →Written by Gary North on August 1, 2012
This woman is 41 years old. She is single. Anyone who marries her gets $555,000 in debt. No man wants to say “I do.” She is trapped until age 70, unless hyperinflation delivers her. No one warned her. Her father even co-signed for part of this debt. The world is full of economically illiterate people. […]
Continue reading →Written by Gary North on June 5, 2012
When Reagan accepted $200 billion-a-year deficits, beginning in fiscal 1983, he ended Republican opposition to big spending and huge deficits. Today, Republican Congressmen occasionally talk tough on spending, but then they vote for programs that guarantee a huge, never-ending federal deficit. They know that hardly anyone back in the district will track their votes. They […]
Continue reading →Written by Gary North on May 3, 2012
There are activists in the Tea Party movement who are unaware of when the movement began, and why. This video explains both. The issue is about more than taxes — just as the original tea party was. It’s about cutting spending. Because it is about cutting spending, there are fissures within the movement. As with […]
Continue reading →Written by Gary North on April 6, 2012
How many people work for governments in the United States. Let’s look at the numbers. The usual estimate of the number of employees of the U.S. government is 2.8 million. The estimate is fake. This does not count military personnel. But most important, it does not count contract workers paid by the federal government. The […]
Continue reading →Written by Gary North on April 3, 2012
State and local governments already owe $4.4 trillion in pensions fund obligations. This is growing daily. The one sector of America that is dominated by unions is government. Unions have disappeared in the rest of the economy. There can be no doubt that state and local governments will not be able to pay all of […]
Continue reading →Written by Gary North on November 29, 2011
John Mauldin monitors the markets. He is the author of Endgame. He also used to be my business manager. He is less apocalyptic than I am, but is is scary enough. Here is his latest assessment: I am constantly asked what my biggest worry is. What is the largest monster I think I hear in […]
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