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  • trillion dollar deficits

    Video: Paul Ryan Destroys Obamacare's Deficit Reduction Claims

    Yesterday at the Blair House health summit, Rep. Paul Ryan (R-WI) directly challenged the White House’s deficit reduction claims. From the transcript: Look, we agree on the problem here, and the problem is health inflation is driving us off of a fiscal cliff. Mr. President, you said health care reform … More

    Answering DeLong, Yglesias, and Collender

    My Corner post from last Wednesday — pointing out that government “stimulus” spending does not add new purchasing power to the economy because the government must first borrow that purchasing power out of the economy — caused a stir among liberal bloggers Brad DeLong, Matt Yglesias and Stan Collender. Their posts … More

    The Uncertainty Factor

    Liberals are trying to take a big victory lap today over the stimulus. They proudly proclaim that the stimulus created more than two million jobs. They base these findings on models that simply multiply government spending by a multiplier to produce the net growth to jobs and GDP. Digging a … More

    China Stops Buying Treasuries: Who Cares?

    The headlines should read: World Didn’t End! Sub-head: We didn’t know what we were talking about. The data for official Chinese purchases of Treasury bonds in 2009 were published yesterday. Verdict: the PRC bought practically nothing. In 2008, official Chinese purchases of US Treasury bonds were equal in size to … More

    Budget 2011: Past Deficits vs. Obama's Deficits in Pictures

    UPDATE: This graph is now over one year old. For up to date information see this post: The Truth about Obama’s Budget Deficits, in Pictures UPDATE: Chart revised 5/14/2010 Releasing his budget this Monday, President Barack Obama told the American people: We won’t be able to bring down this deficit overnight, … More

    Social Security Bailouts Begin in 2010

    Fiscal reform has become a hot topic in Washington as spending hits all-time highs and Congress and the President continue to push several new high-ticket items closer to law.  Lawmakers and concerned citizens alike are shifting focus to the looming fiscal crisis that will be caused by from entitlement spending … More

    Morning Bell: A Budget for a European Welfare State

    Last Friday, President Barack Obama accepted an invitation from House Republicans to speak and answer questions at the Republican House Issues Conference. During the Q&A period, Rep. Paul Ryan (R-WI) pressed the President: The spending bills that you’ve signed into law, the domestic discretionary spending has been increased by 84 percent. … More

    Budget 2011: Video: What Does The Federal Budget Freeze Look Like?

    From the creator of Obama Budget Cuts Visualization and The National Debt Road Trip, now comes, What Does The Federal Budget Freeze Look Like? For common sense conservative solutions to our nation’s budget deficits, see:

    Morning Bell: The Obama Budget: Higher Taxes, Higher Spending and More Debt

    President Barack Obama will submit a $3.8 trillion budget proposal for fiscal 2011 to Congress today. One might hope that given last year’s $1.4 trillion budget deficit was an all-time high and the President promised a spending “freeze” in last week’s State of the Union, this budget might signal a … More

    Obama’s Deaf Ear May Cost His Success

    This week, Obama showed himself once again to be out of touch with both Americans and with the current debt situation in the United States.  He called on the determination, optimism, and fundamental decency of all Americans, but then seemed to suggest that Americans should focus that determination on passing … More