Showing posts with label National Debt. Show all posts
Showing posts with label National Debt. Show all posts

Saturday, March 16, 2013

Five Reasons Washington Shouldn’t Panic About The Debt

Five Reasons Washington Shouldn’t Panic About The Debt: Once again, the March budget season has arrived, and Rep. Paul Ryan (R-WI) has engineered another draconian fiscal vision for the House Republicans. The plan would radically remake Medicare, decimate Medicaid, grant a huge tax cut to the wealthy, and slash support for the poor, investments, and civic infrastructure. Ryan and his cohorts justify these [...]/p

Thursday, March 14, 2013

Memo to Washington: Private Debt Threatens Our Economy, Not Government Deficits | Alternet

Memo to Washington: Private Debt Threatens Our Economy, Not Government Deficits | Alternet
"The debt we are talking about is private-sector debt. But most officials this afternoon focus on government debt and budget deficits as the problem – especially social spending such as Social Security, not bailouts to the banks and Federal Reserve credit to re-inflate prices for real estate, stocks and bonds."

Wednesday, March 13, 2013

Even Paul Ryan Admits That America Isn’t Facing A Debt Crisis

Even Paul Ryan Admits That America Isn’t Facing A Debt Crisis:  Paul Ryan says we must slash spending. We must do it now, and we must do it dramatically. We must cut 47 percent from education, 32 percent from infrastructure, and 28 percent from scientific research. [...]/p

Monday, February 25, 2013

Guess What? The Debt Everyone Is Freaking Out About Does Not Exist | Alternet

Guess What? The Debt Everyone Is Freaking Out About Does Not Exist | Alternet
"Refusing to tackle that all-too-real crisis with the full range of economic resources at our disposal is a shameful moral and political failure. Especially when the reason we’re refusing is fear of shadows cast on the wall."

Sunday, February 24, 2013

VIEWPOINT: The Debt Everyone Is Freaking Out About Does Not Exist

VIEWPOINT: The Debt Everyone Is Freaking Out About Does Not Exist: Between the new-and-improved Simpson-Bowles plan, Joe Scarborough’s feud with Paul Krugman, the relentless drumbeat of the entire Republican Party, and the media blitzkrieg launched by the billionaire-driven “Fix the Debt” campaign, one might think no serious and responsible American can ignore the unassailable truth: America faces a debt crisis, which we must act on immediately [...]/p

Thursday, February 14, 2013

Private Debt – Not Government Debt – Will Destroy America

Private Debt – Not Government Debt – Will Destroy America
"There are two kinds of debt. One that’s relatively harmless. And one that can destroy us all.  
There’s public sector debt – or government debt – which is over $16 trillion. This is the sort of debt that politicians scream and holler about when they demand austerity.
And then there’s private sector debt – the debt owned by you and me and millions of Americans across the nation in the form of credit cards, home and auto loans, along with America's corporate debt. This sort of debt doesn’t seem to bother politicians at all, even though total private sector debt is $38 trillion, more than double government debt."

Tuesday, February 12, 2013

What Marco Rubio Doesn’t Understand About Debt And The Economy

What Marco Rubio Doesn’t Understand About Debt And The Economy: Florida Sen. Marco Rubio will deliver the official Republican response to President Obama’s State of the Union address tonight. While Rubio has been pitched as the “savior” and “new face” of the GOP, a preview of his speech gives the indication that he is just as disconnected from the current economic reality as the rest [...]/p

Wednesday, February 6, 2013

Offshore Tax Havens Robbed States of Nearly $40 Billion in 2011 | Alternet

Offshore Tax Havens Robbed States of Nearly $40 Billion in 2011 | Alternet
"States across the country lost nearly $40 billion dollars of revenues in 2011 due to offshore tax havens, according to a new report by U.S. PIRG Education Fund. The study reveals that corporations account more than $26 billion of lost revenue, while wealthy individuals are responsible for the rest. The blow to states rests on top of nearly $150 billion of lost annual federal revenue due to corporate loopholes.
In a statement, PIRG said everyday Americans bear the burden when the nation’s wealthiest elites avoid paying their fair share. Tax haven abusers benefit from our markets, infrastructure, educated workforce, and security, but they pay next to nothing for these benefits. Ultimately, taxpayers must pick up the tab, either in the form of higher taxes, cuts to public spending priorities, or increased national debt."

Monday, December 31, 2012

PERRspectives: The National Debt? Republicans Built That

PERRspectives: The National Debt? Republicans Built That
"President Bush added $5.1 trillion in red ink to the national ledger. But while the debt has grown by over $5 trillion during Obama's first term, less than $1 trillion can be attributed to new programs he put in place. The rest is the result of the tax revenue loss from the deep recession which began in December 2007 and the continuation of policies inherited from George W. Bush."