Obama to directly intervene in the debt limit negotiations
Finally: The White House announced today that Obama will now directly involve himself in the debt limit negotiations.
Tag: Congress
Global Bankruptcy Months Away?
The day of reckoning beckons: Global bankruptcy months away? Key quote:
“Based upon world liquidity, the amount of money available to fund sovereign debt in 2011 is between $6-9 trillion,” Marc Nuttle told Townhall Finance. Nuttle runs the site DebtWall.org. “The world’s government projections for deficit financing in 2011 is $8-10 trillion. We are bumping into the ceiling of the world’s ability to fund ongoing sovereign deficits and debt on an annual basis.”
NASA faces subpoena on heavy-lift rocket work
The space war continues: Several senators are threatening to subpoena NASA over what they perceive as the agency’s foot-dragging in building a heavy-lift rocket.
Idiots. They give NASA less money and less time to build the program-formerly-called-Constellation, and then are surprised when things don’t go well. Of course, it doesn’t help that the Obama administration is trying to sabotage the project anyway.
Senate Republicans pull out of Biden debt limit negotiations
The Senate Republicans have pulled out of Biden’s debt limit negotiations.
This article strongly suggests to me that the Democrats, who hold a majority in this negotiating group, have refused to take seriously the Republicans’ demand to cut spending, instead focusing on tax increases as a solution. The problem is that you could raise our taxes to 100 percent and you wouldn’t solve the debt problem. The government has got to reduce its spending.
CBO: The national debt will exceed the size of the entire U.S. economy by 2021
The day of reckoning looms: The Congressional Budget Office today reported that unless something drastic is done, the national debt will exceed the size of the entire U.S. economy by 2021.
Democrats call for new spending in US debt deal
In negotiations over raising the debt limit Democrats are now calling for more stimulus spending.
These guys just don’t get it. We don’t have the money, the federal government is broke, and it was their out-of-control spending and complete lack of responsibility that helped create today’s economic mess.
The one thing that worries me most however is that the public might not get it yet either, and might not vote these bums out of office. If that happens, we are really screwed, in ways that most Americans today probably can’t imagine.
Conservative lawmakers push for pledge cutting spending across the board, capping government spending, and requires a balanced budget amendment.
Conservative lawmakers are coalescing behind a pledge to cut spending across the board while requiring a balanced budget amendment.
This story once again suggests to me that the political winds are definitely favoring big cuts in government spending. Woe to the politician of either party who ignores these winds.
Republicans refuse to cut farm and ethanol subsidies, cut international food aid instead
Some pigs win, some lose: Republicans refuse to cut farm and ethanol subsidies, but cut international food aid instead.
The cowardice of politicians from both parties to honestly face the federal deficit problem sadly continues.
Ten congressmen and a law professor sue to stop the war in Libya
Ten congressmen (from both parties) and a law professor are suing the Obama administration to stop the war in Libya.
Negotiations over debt limit and budget still appear deadlocked
Though some progress has been made, the negotiations over the debt limit and the budget still appear deadlocked.
CBO hires Obamacare advocate to provide ‘objective’ health care budget numbers
Gotta keep that propaganda machine running: The Congressional Budget Office has hired an Obamacare advocate, Democrat Party operative, and Obama administration official to provide it “objective” health care budget numbers.
House Trims Homeland Security Science Spending
It’s a start: The House has trimmed the budget for the Homeland Security Agency by $1.1 billion, including a cut of about 75% from the Obama administration’s request for the agency’s science budget, ($398 million versus $1.2 billion requested). And of course, we don’t have to wait long to hear the pigs squeal:
DHS officials say the decrease in the directorate’s budget will wipe out dozens of programs, stalling the development of technologies for border protection, detection of bio-hazards, and cargo screening.
My heart bleeds.