Unless spending is cut, the United States is headed down the road to economic ruin. Official projections show rivers of red ink for years to come unless policymakers enact major budget reforms.
Post Tagged with: "government spending"
August 27, 2010 04:44
Its not just federal spending
State and local governments have increased spending at double the rate of the private sector since 1950.
July 1, 2010 03:44
Why Obamanomics Has Failed
Uncertainty about future taxes and regulations is enemy No. 1 of economic growth. Almost daily, Mr. Obama uses his rhetorical skill to castigate businessmen who have the audacity to hope for profitable opportunities. No president since Franklin Roosevelt has taken that route. President Roosevelt slowed recovery in 1938-40 until the war by creating uncertainty about his objectives. It was harmful then, and it’s harmful now.
June 30, 2010 06:07
Economic Information Worth Knowing
Each new dollar of debt was accompanied by a net reduction in GDP. In fact, at year-end, each new dollar of debt subtracted 45 cents from GDP (source: U.S. Treasury Z1 Flow of Funds report, 3/11/10). Remember this the next time you hear some economist claiming that Uncle Sam should run even larger deficits to “stimulate” the economy.
