The New York Times reports today: As the Obama administration racks up an unprecedented spending bill for bank bailouts, Detroit rescues, health care overhauls and stimulus plans, the bond market is starting to push up the cost of trillions of dollars in borrowing for the government. Last week, the yield …
The credit crunch is hitting Washington, DC, as Uncle Sam maxes out his credit cards. In addition to the enormously costly Obama budget, all the multi-trillion dollar bailouts, stimulus, and government expansion plans depend on one thing—the ability of the U.S. government to get money and spend it. Uncle Sam …
We’ve warned before that the federal government’s exploding appetite for debt was helping to create a Global Government Debt Bubble. The Obama Administration has even been trying to worsen the problem by lobbying other countries to borrow even more money, despite the fact that our own record borrowing makes their …
Last month Heritage fellow J.D. foster wrote: The global recession has caused deficits to balloon almost everywhere, and governments worldwide are considering their own massive programs to stimulate their economies. So the United States will be offering this great wave of federal debt to the credit markets while most other …
Last month Heritage fellow J.D. foster wrote: The global recession has caused deficits to balloon almost everywhere, and governments worldwide are considering their own massive programs to stimulate their economies. So the United States will be offering this great wave of federal debt to the credit markets while most other …
