The complexities and drivers of the federal budget are vast and intimidating to understand. However, it is very difficult to have discussions about our federal deficits and national debt unless the process is first understood. I want to initiate this discussion to help readers understand our nation’s budgetary process and to foster more informed dialogue.… Continue reading Our Budget Responsibility
Category: Money
Understanding the US Budget
The United States budget can be broken into two groups, DISCRETIONARY spending and MANDATORY spending. About 7% of the budget is interest paid on our debt – which will only increase, but should also be considered mandatory as defaulting is not an option. As you can probably guess mandatory spending is outside of the President’s… Continue reading Understanding the US Budget
An Economy on the Rebound
When President Barack Obama took the oath of office on January 20, 2009, the U.S. economy was in free fall. During the preceding year and half, some of the nation’s largest and most important financial institutions went bankrupt, including Bear Stearns, Countrywide, and Lehman Brothers, as risky loans and other investments failed. Many other large… Continue reading An Economy on the Rebound
Did President Obama Double Our National Debt?
Who is the bigger fool….President Obama for doubling our national debt?…or the individual who believes such a canard? Like all political claims, the devil is in the details. More has been added to our national debt under President Obama than all the other presidents combined. Partially true. However, of the $5.1 trillion added to the… Continue reading Did President Obama Double Our National Debt?
Thank Romney for Underscoring Need for “Buffet Rule”
After losing the South Carolina Primary to Newt Gingrich, possibly in part due to his waffling at the pre-Primary debates about releasing his tax returns, Mitt Romney released his tax returns for the past two years, which show that he paid about 14% in federal taxes on income of nearly $43 million. The timing of… Continue reading Thank Romney for Underscoring Need for “Buffet Rule”
Communists Like Thomas Jefferson and Adam Smith
Conservatives often invoke our country’s Founding Fathers as well as prominent historical figures like economist Adam Smith, whose ideas about the “invisible hand” of free markets helped form the theoretical foundation of modern capitalism, when they advocate far-right economic policies. Lately, there has been a lot of talk by GOP presidential candidates about creating a… Continue reading Communists Like Thomas Jefferson and Adam Smith
In accordance with current events…
A couple comments on this chart I created: – All years beyond 2011 are estimates. The dramatic drop in 2013 is due to the reckless Bush tax cuts expiring. The deficit would be closer to 1.3 trillion in 2011 had the Bush tax cuts not been extended. – The trajectory that occurred from 2007 on was… Continue reading In accordance with current events…
Education – Capitalist Style
Written in response to a challenge for privatized education and protection: Public schools would be replaced by private institutions driven by profit. In order to meet the demands of capitalism, the only admitted students would be those who can pay. Obviously the quality of education would be directly tied to the amount one could pay,… Continue reading Education – Capitalist Style
Wake Up Middle Class!
With Obama’s plan to let the Bush Tax cuts expire in 2010, there has been an onslaught of media attention concerning his budgetary decisions. Phrases like “socialism”, “re-distribution of wealth”, and “tax hikes” are being associated with President Obama’s fiscal policies to discredit his approach. Obama has been open and direct concerning who his tax… Continue reading Wake Up Middle Class!
The Republican Philosophy – One Giant Credit Card
Tax and Spend Liberals. If I had a nickel for every time I heard this phrase, I would be writing this post from an exotic hut with glass bottom floors somewhere in the French Polynesia. This negative connotation has been associated with the Democratic Party for several decades, and will be an effective talking point… Continue reading The Republican Philosophy – One Giant Credit Card
What’s up (or down) with the gas prices?
Could our two oil executives who are running America actually have some impact on gas prices? Recent polls seem to suggest this idea, with the majority of American believing that the recent uncharacteristic dip in gas prices is the basis for some conspiracy theory. And why not? Gas is down a dollar a gallon in… Continue reading What’s up (or down) with the gas prices?
Economic Report
The Economy is souring, everybody take a deep breath…but don’t get comfortable… A new report came out earlier this month reporting on the continual increase in economic measures. However, before you spend your day window shopping, realize a couple significant points: The economy is being driven by record profits from America’s largest corporations. Though this… Continue reading Economic Report
A Moral Dilemma
“The test of our progress is not whether we add more to the abundance of those who have much; It is whether we provide enough for those who have too little.” -FDR With the 2004 presidential election come and gone, many citizens will tune out the various debates that our lawmakers continue to engage in. … Continue reading A Moral Dilemma
Economics Paper from 2004
Perhaps one of my passions (and an intragal part of politics and policy making) is economics. This paper was written three months before the 2004 election. (First two paragraphs of the article) Perhaps one of the most partisan debates today is the economics of monetary and fiscal policy. Many administrations in the past have implemented… Continue reading Economics Paper from 2004