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  • trillion dollar deficits

    Associated Press: Obama Rhetoric, Reality Clash

    The AP reports, you decide: WASHINGTON – Barack Obama’s optimistic campaign rhetoric has crashed headlong into the stark reality of governing. In office two months, he has backpedaled on an array of issues, gingerly shifting positions as circumstances dictate while ducking for political cover to avoid undercutting his credibility and … More

    Morning Bell: Accelerating Us Off a Cliff

    Speaking to House Democrats at their Kingsmill Resort & Spa retreat last month, President Barack Obama defended his economic stimulus plan, claiming: “[We] are not going to get relief by turning back to the same policies that for the last eight years doubled the national debt and threw our economy … More

    Morning Bell: Geithner in Wonderland

    When President Barack Obama introduced Sen. Judd Gregg (R-NH) as his nominee for Commerce Secretary, Obama said of Gregg: “He shares my deep-seated commitment to guaranteeing that our children inherit a future they can afford.” After yesterday’s Senate Budget Committee hearing, we now know why Gregg eventually decided he could … More

    China Not About to Dump American Bonds

    The Financial Times makes a valiant effort to curb wild talk about China dumping U.S. Treasury bonds. Luo Ping of the China Bank Regulatory Commission may use strong language – “we hate you guys” — but he has a better grip on the PRC’s options than much of the American … More

    But We Thought All Economists Loved This Stimulus Plan?

    A little while ago, Vice President Joe Biden had the audacity to say,   “Every economist, as I’ve said, from conservative to liberal, acknowledges that direct government spending on a direct program now is the best way to infuse economic growth and create jobs.” Well, the McClatchy wire carried this headline today: “Will the … More

    Morning Bell: Why the Rush?

    While campaigning for passage of his economic stimulus plan at the Caterpillar, Inc. plant in East Peoria, Illinois, yesterday President Barack Obama again claimed that “if Congress passes our plan, this company will be able to rehire some of the folks who were just laid off.” But after the President … More

    President Obama Set to Exceed President Bush’s Deficits

    “First of all, when I hear that from folks who presided over a doubling of the national debt, then, you know, I just want them to not engage in some revisionist history.” – President Barack Obama, February 9, 2009 President Barack Obama has recently begun denigrating Republican attempts to pare … More

    The Left Has Already Proved Nothing is Temporary about This Spending

    In a study released this morning, Heritage senior fellow Robert Rector pegged the honest cost of the House economic stimulus plan at $1.34 trillion, not the $816 billion that has been reported. Rector reasoned: The recently passed U.S. House of Representatives stimulus bill contains $816 billion in new spending and … More

    Morning Bell: The Pelosi-Obama-Reid Trillion Dollar Debt Plan

    Last Friday we warned you about some family planning provisions tucked away in the House stimulus bill.  Some conservative lawmakers then took up the issue on the Sunday shows, and the provisions quickly became a symbol of how completely unrelated to “economic stimulus” the House bill really is.  Being the … More

    Morning Bell: The Borrowing Bailout Parade Must End

    Before President Bush took office, the federal government took in $2 trillion in revenue in 2000. As Bush leaves office, the federal government is expected to take in $2.4 trillion in 2009. In other words, after eight years under President Bush, the federal government is taking in $400 billion more … More