Green Energy
Alan Caruba's essay is HERE.
As Mr. Caruba rightly points out, the United States has now reached the point that the government can no longer collect enough taxes to make a smidgen of difference and our national debt.
When a household reaches the point that income cannot put a dent in that household's debt, that household goes bankrupt and ends up living under the bridge - or in a kind relative's home.
What happens when an entire nation has to go "live under the bridge"?
Raising the debt ceiling is a measure that doesn't solve the underlying problem of carrying debt that has no hope of ever being paid off.
- "how Would You Feel If You Knew That Almost All Of The Money You Pay In Personal Income Tax Went To Pay Just One Bill, The Interest On The Debt?”
CNBC TodayChances are, you and millions of Americans would find that completely unacceptable and indeed they should.But that is where we may be heading.Thanks to the Fed, the interest rate paid on our national debt is at an historic low of 2.4 percent,...
- The Obama Economy Has Hit Poor, Uneducated Blacks And Hispanic Harder Than Any Other Group
Hope and Change Watch. From the Washington Post: The study is part of a growing body of research on the role of household wealth — or lack thereof — in amplifying the impact of the recession and slowing the rate of recovery. Traditionally, economists...
- In Which Timothy Geithner Speaks To Our Real Power
Geithner: We Should Eliminate the Debt CeilingTreasury Secretary Timothy Geithner says he believes the U.S. debt ceiling should be eliminated in a new interview with Bloomberg’s Al Hunt.“Do you agree with Alan Greenspan that we ought to just eliminate...
- The Obama Presidency By The Numbers
With a hat tip to Rational Nation USA: Fact check (dated October 5, 2011):The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. As of the close of business on Oct. 3, the total...
- How Many Americans Believe This?
From Real Clear Politics:Dem Congresswoman Brings Obama's Race Into Debt Ceiling Fight Rep. Sheila Jackson Lee (D-Texas) used the race card this afternoon to assess blame in the debt ceiling fight. Jackson Lee, a black Congresswoman, believes the...
Green Energy
Debt Beyond Belief
Alan Caruba's essay is HERE.As Mr. Caruba rightly points out, the United States has now reached the point that the government can no longer collect enough taxes to make a smidgen of difference and our national debt.
When a household reaches the point that income cannot put a dent in that household's debt, that household goes bankrupt and ends up living under the bridge - or in a kind relative's home.
What happens when an entire nation has to go "live under the bridge"?
Raising the debt ceiling is a measure that doesn't solve the underlying problem of carrying debt that has no hope of ever being paid off.
- "how Would You Feel If You Knew That Almost All Of The Money You Pay In Personal Income Tax Went To Pay Just One Bill, The Interest On The Debt?”
CNBC TodayChances are, you and millions of Americans would find that completely unacceptable and indeed they should.But that is where we may be heading.Thanks to the Fed, the interest rate paid on our national debt is at an historic low of 2.4 percent,...
- The Obama Economy Has Hit Poor, Uneducated Blacks And Hispanic Harder Than Any Other Group
Hope and Change Watch. From the Washington Post: The study is part of a growing body of research on the role of household wealth — or lack thereof — in amplifying the impact of the recession and slowing the rate of recovery. Traditionally, economists...
- In Which Timothy Geithner Speaks To Our Real Power
Geithner: We Should Eliminate the Debt CeilingTreasury Secretary Timothy Geithner says he believes the U.S. debt ceiling should be eliminated in a new interview with Bloomberg’s Al Hunt.“Do you agree with Alan Greenspan that we ought to just eliminate...
- The Obama Presidency By The Numbers
With a hat tip to Rational Nation USA: Fact check (dated October 5, 2011):The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. As of the close of business on Oct. 3, the total...
- How Many Americans Believe This?
From Real Clear Politics:Dem Congresswoman Brings Obama's Race Into Debt Ceiling Fight Rep. Sheila Jackson Lee (D-Texas) used the race card this afternoon to assess blame in the debt ceiling fight. Jackson Lee, a black Congresswoman, believes the...