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  • trillion dollar deficits

    PRI: Government-Run Health Care Costs Rise Faster Than Private Sector Care

    Pacific Research Institute Senior Fellow Jeffrey Anderson reports: The centerpiece of President Obama’s plan is a “public option,” described by Tom Daschle as “a government-run insurance program, modeled after Medicare.” The president asserts that this new Medicare-like program would cut costs. But there are nearly 40 years of experience to … More

    The Coming Obama Tax Explosion

    According to Time, the Center for American Progress (CAP) is “the most influential independent organization in Obama’s nascent Washington.” The brainchild of former Clinton White House chief of staff John Podesta, President Obama “effectively contracted out the management of his own government’s formation to Podesta.” So take notice when CAP … More

    Deficit Spending and Higher Interest Rates Imperil the Recovery

    Long-term interest rates are rising rapidly, with the 10-year Treasury pushing against 4 percent for the first time since the summer of 2008 – before the financial markets collapse. The many influences on U.S. interest rates at the moment are all moving in the same direction – up. One influence … More

    The Global Government Debt Bubble Is Here

    The New York Times reports today: As governments worldwide try to spend their way out of recession, many countries are finding themselves in the same situation as embattled consumers: paying higher interest rates on their rapidly expanding debt. Increased rates could translate into hundreds of billions of dollars more in … More

    China's Addiction to U.S. Debt

    Sebastian Mallaby in today’s Washington Post: China has accumulated at least $1.5 trillion in dollar assets, according to my Council on Foreign Relations colleague Brad Setser, so a (highly plausible) 30 percent move in the yuan-dollar rate would cost the country around $450 billion — about a tenth of its … More

    The Obama Administration's $2 Trillion Health Care Fantasy

    New America Foundation‘s Maya MacGuineas writes at the Washington Post: Recently, a collection of industry groups came to Washington for a meeting and photo-op with the president. News headlines trumpeted their pledge to save $2 trillion over the next decade — headlines that were not surprising given that President Obama … More

    Morning Bell: California's High Tax, High Spending Disaster

    The progressive movement suffered a major defeat this Tuesday when California voters rejected all five tax raising measures on the ballot, four out of five of them by nearly 2-to-1 margins. The vote clearly shows that even in one of the most liberal states in the nation, there is an … More

    The National Debt Road Trip

    Just because you sometimes travel at 64 mph in a 55 mph speed zone, doesn’t mean you can’t criticize someone driving 174 mph. This video explains: [youtube]http://www.youtube.com/watch?v=P5yxFtTwDcc[/youtube]

    Obama's Debt Gamble

    The Washington Post’s Robert Samuelson writes: From 2010 to 2019, Obama projects annual deficits totaling $7.1 trillion; that’s atop the $1.8 trillion deficit for 2009. By 2019, the ratio of publicly held federal debt to gross domestic product (GDP, or the economy) would reach 70 percent, up from 41 percent … More

    President Obama's Cognitive Dissonance on Debt

    Speaking to a town hall in Rio Rancho, New Mexico, yesterday, President Barack Obama said: We can’t keep on just borrowing from China, or borrowing from other countries because part of it is, we have to pay for — we have to pay interest on that debt. And that means … More