Jacob “Jack” Lew, Obama’s choice to replace Timothy Geithner as the Secretary of the Treasury, is a terrible choice for a department that has such a powerful role in the national debt. As Obama’s budget director, he has been entirely unsuccessful in drafting budgets that take any step towards lowering the debt. Further, the two budgets he was responsible for [...]
NRD Editor’s Note: This column originally appeared at TheHill.com. By Rick Manning — Sen. Jeff Sessions (Ala.), the ranking Republican on the Senate Budget Committee, explains in better terms than I can muster why Obama’s campaign claim that his budget plan would pay down the debt is 10 Pinocchios false. Here’s what Sessions said recently in the weekly Republican address: [...]
By Bill Wilson — Sep. 2012 looks to be an interesting month, with a confluence of factors that pose considerable downside risks not just for the U.S., but the global economy — any of which could send us, with anemic growth of just 1.5 percent for the second quarter, right back into a tailspin. They also make further quantitative easing, [...]
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By Frank McCaffrey — The last five years have featured a recession, bailouts, a boom in national debt and a feeling of hopelessness. It’s seemed as if our leaders have only made it worse. Check out this collection of statements from recent years.
By Bill Wilson — As the global financial crisis has spread from defaulting mortgages, to crashing mortgage-backed securities, to interbank contagion, to then a full-blown sovereign debt crisis, the apologists for the Keynesian order have pretty much had their way in responding to the economic fallout. They gave us the Troubled Asset Relief Program (TARP), trillions of dollars of bank [...]
By Robert Romano — Feb. 9, 2012. You can put it in the history books now. That was the day the $15.6 trillion national debt surpassed 100 percent of the $15.4 trillion Gross Domestic Product (GDP). Based on the latest data by the Bureau of Economic Analysis, the economy just grew by $142.2 billion in the first quarter, or an [...]
Please check out the latest infographic from the RSC:
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By Bill Wilson — If nothing changes about our current spending trajectory and Barack Obama gets everything he what he wants out of Congress this year in his budget, the national debt will increase $10 trillion over the next decade — to $25.9 trillion by 2022. What’s alarming about this number is that it could be even higher. If the [...]
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By Frank McCaffrey — President Andrew Jackson never backed down from a fight. This included his battle to drop the national debt. Here’s a look at how “Old Hickory” did business.
By Robert Romano — The national debt to GDP ratio is now over 100 percent. It’s official now. Well, almost. We’ll know more when the first quarter Gross Domestic Product (GDP) numbers are published by the Bureau of Economic Analysis on April 27. But, based on a preliminary analysis of data on the GDP and national debt figures from the [...]