According to Bing AI, “The moral of the story “The Emperor’s New Clothes” is that people should not be afraid to speak the truth, even if it goes against popular opinion or authority. In the story, everyone pretends to see and admire the emperor’s new clothes because they fear being seen as foolish or going…
Category: Inflation and the National Debt
Solving the Debt Crisis is a Bipartisan Issue
If our nation’s leaders were truly concerned about “We the People,” there would be more reaching “across the aisle.” All we see are partisan attacks and in-fighting. It’s time to find some common ground. There have been at least two Master Classes featuring opposing political icons who successfully found some common ground – Karl Rove…
Resolving Pending Federal Funding Issues
Image courtesy of Freepik The Washington Times recently published an Op-ed by The Hon. David M. Walker, former U.S. Comptroller General and Co-Founder and Board Member of the Federal Fiscal Sustainability Foundation. Congress must scrutinize Biden’s $40 billion supplemental funding request When Congress returns to Washington after its summer break, one of its top priorities needs…
Deja Vu -The Debt Ceiling Discussion
Later this month Congress will be debating the debt ceiling (again). As both sides of the aisle try to prevent a government shutdown, the debt clock keeps ticking away with the per person average hovering around $95,000. Many Americans don’t earn that much in a year. The Committee for a Responsible Federal Budget published a…
Lying Prices Keep America Hooked on Spending
It’s alarming how the following article written by Steve H. Hanke and Stephen J.K. Walters that appeared in the January 8, 2019, print edition of The Wall Street Journal is as relevant today as it was at the time of publication: “When politicians hide the cost of government, ‘free college’ and ‘Medicare for all’ sound like…
Does Congress need an Intervention?
According to the Webster online dictionary, “intervention” refers to a situation where a group of family or friends confront an individual with an addiction or behavioral problem to encourage them to address the issue. In this case, the issue at hand is Congress’s out-of-control deficit spending. With few exceptions, our elected officials aren’t being good…
Time to wake up and smell the debt
Ian Haworth in his Op-Ed published by “The Washington Examiner” on July 3, 2023 says that “one area should be sparking terror among the populace: debt.” Notable comments in his Op-Ed follow: “And why, as we stare down the barrel of passing the highest level of debt recorded in American history at 106% of GDP…
Other Countries are putting the “brakes” on spending while the U.S. kicks the can down the road.
Germany implemented a fiscal sustainability plan similar to the Swiss Debt Brake in 2009 to reign in excess spending. The German Finance Minister reported on Marcy 7, 2023 that the country “is sticking with it.” Former Magna International CEO Frank Stronach sounded the alarm on Canada’s rising national debt calling it a “ticking timebomb…
Does raising the debt ceiling pay off debt?
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…
Why is it so Hard to figure out the Debt Deadline?
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…