Debt interest payment chickens coming home to roost

  By Rick Manning It is not a pleasant thing when the chickens come home to roost, things get real messy in a big hurry and you want to make certain you don’t have a fan around to avoid anything hitting it. Senate Budget Committee Ranking Member Jeff Sessions points out, “The U.S. gross federal debt currently stands at $17.548 […]

China surpasses U.S. in debt creation since 2008, but will it last?

By Robert Romano Since 2007, the amount of credit outstanding, that is all debts public and private, has increased a whopping $30 trillion to $100 trillion in mid-2013, according to the Bank for International Settlements. Half of that increase has occurred in China alone, with an increase in total bank assets by $15.4 trillion since September 2008, reports the popular […]

World debt reaches $100 trillion, U.S. share 58 percent

By Robert Romano Global debt outstanding, that is, all debts public and private, reached $100 trillion in mid-2013, the Bank for International Settlements (BIS) quarterly review revealed. Credit outstanding has grown by more than $30 trillion since the financial crisis began in 2007. When compared to data compiled by the Federal Reserve, the U.S. share of the $100 trillion is […]

National Debt jumps $328 billion after debt ceiling lifted

By Tom Toth President Obama claimed that lifting the debt ceiling did not cause increased indebtedness, and while this is technically true, not even the prince of prevarication himself could claim that the day after the debt ceiling was lifted, the national debt jumped by $328 billion. This jump answers the question that had bothered many debt watchers – how […]

Time to call Obama’s debt default bluff

By Robert Romano Is the White House bluffing about an imminent default on the $16.7 trillion national debt? Is the debt ceiling crisis just a made-up D.C. myth meant to frighten young children? Heretofore, the story coming out of the U.S. Treasury has been that if the government’s borrowing limit is not increased come Oct. 17, the U.S. will default […]

The deadbeat president

By Robert Romano “I say, imagine in your private life, if you decided that I’m not going to pay my mortgage for a month or two — first of all you’re not saving money by not paying your mortgage. You’re just a deadbeat.” That was Barack Obama describing the plight of delinquent mortgage borrowers, comparing them to members of Congress […]

Austerity Versus Growth a False Choice

By Robert Romano Absolutely no connection whatsoever. That is what one must conclude from a recent Americans for Limited Government (ALG) study asking the questions: Does increased government spending spur private sector growth, and do spending cuts cause private sector recessions? The study, based on data compiled by the Bureau of Economic Analysis from 1945 to 2012, separates government spending […]

What is the GOP’s Debt Ceiling Strategy?

By Robert Romano Appearing recently on Fox News’ On the Record with Greta Van Susteren, House Budget Committee Ranking Member Chris Van Hollen wanted to know where the House Republicans were on budget negotiations. “The House has passed a budget, the Senate has a budget,” he said. “The next step as you know is to have a budget negotiation in […]

Republicans taking default off the table

By Robert Romano Today the House Ways and Means Committee is considering a version of the “Full Faith and Credit Act” that addresses the threat of default when the statutory debt ceiling is reached by prioritizing payments of principal and interest to the nation’s creditors. Readers will recall in July 2011, in order to force House Republicans to vote in […]

What recovery?

By Bill Wilson — It has been four years and two months since the “American Recovery and Reinvestment Act,” the so-called “stimulus,” was signed into law on Feb. 17, 2009. That day, Barack Obama told the American people he was keeping his campaign promise that he would “do all that I could to give every American the chance to make […]

Back to top

Copyright © 2008-2014 NetRight Daily