The government is no different than many regarding the transferring of debt from one source to another source with a higher credit limit to avoid a default, and ultimately spending more money because credit is available. Mick Mulvaney, (former Congressman, Director of the Consumer Financial Protection Bureau, and former acting White House chief of staff…
Daily we hear “the clock is ticking” and the government will run out of cash to pay its bills — mainly, we are told that it will not be able to pay Social Security and Medicare, etc. Seniors should be planning their finances to avoid shortfalls resulting from a default. What are we to…
There was a recent political cartoon depicting an elephant and a donkey kicking the proverbial can down the road. It seems that every debt ceiling debate results in more national debt, not less. Isn’t it time to take a stand and do something about the debt to save the country and the future of the…
As the debt ceiling debate continues to dominate the news cycle, do you ever wonder who actually owns the national debt? Many believe that foreign governments own a large portion of the U.S. National Debt. It is true that the national debt is owned by a number of foreign countries including Japan (largest foreign debt…
The original Misery Index was created by economist Arthur Okun, a member of President Lyndon Johnson’s Council of Economic Advisors. The Index was a way to help President Johnson understand how the country was doing by tracking the impact of unemployment and inflation on the population. It was later modified by Robert Barro of Harvard…
According to the Peter G. Peterson Foundation chart, the debt ceiling has been raised 89 times since 1959 in an effort to keep pace with federal spending. Sheldon H. Jacobson, Opinion Contributor for “The Hill” believes, “Moving the debt ceiling higher merely “kicks the can down the road” until the newly established debt ceiling is…
Daily we hear a report about the federal debt. $31.4 trillion is a big number. Can you picture it? Julie R. Peasley at Visual Capitalist provides a visual that enables us to actually see what the U.S. debt looks like. In her accompanying article, she states “The enormity of U.S. government debt is hard for…
Federal Fiscal Sustainability Foundation Board members Dr. Barry Poulsen and David Biddulph offer their perspectives on the Debt Ceiling saga that continues with no real solution being proposed other than spending more money.
On September 1, 2022, distinguished co-authors Admiral Bill Owens, Former Comptroller General of the United States David M. Walker, and Dr. Barry Poulson shared their concerns about the effects of high and rising debt. “Mounting debt burdens are having an impact on our national security,” they said. “Larger deficits have caused investors to demand ever-higher…
Some Straight Talk About the Debt Crises