Showing posts with label Deficits. Show all posts
Showing posts with label Deficits. Show all posts

Wednesday, May 29, 2013

Reagan's Homeboy: His Legacy Stinks

I really enjoyed writing this article. Here's an excerpt:
The former budget director under President Ronald Reagan said something you don’t hear often from people who have worked under Reagan or from conservative politicians.  That is, that the conservative idol and oft-referred to leader of a bygone era left a “horrible legacy.”

“The thing that came out of the Reagan era, which really was a horrible legacy, was the notion that deficits didn’t matter and the rationalization that we were only trying to starve the beast and if the deficit got big enough or persistent enough or extended far enough in time, surely they would wake up and shrink the government,” said David Stockman, former Director of the Office of Management and Budget from 1981-1985, at the Cato Institute Wednesday.
 Read More: Former Reagan Official: "Reagan Era Was A Horrible Legacy" || Politic365

The chief and most original insight is his analysis of Reagan's defense build up and its connection to the Iraq war of the 1990s. I never heard anything like it before this lecture. It's pure gold. Read it for yourself.

Thursday, March 21, 2013

Things President Obama Has Done Better Than Bush

President Obama is a lot better at drone strikes:
The London-based TBIJ reports that under President Obama CIA drones strikes in tribal parts of Pakistan have occurred at a rate six times faster than his predecessor George W. Bush in parts of Pakistan, as of December 2012. That rate was about once every five days during his first term.

From 2004 to 2013, there were 365 drone strikes. Out of those, 313 were under the Obama administration.

Under President Obama, 2,152 people were reported killed, of whom 290 were civilians. By contrast, 438 people were killed under President Bush, of whom 182 were civilians.

Under Bush, more children were killed by drone strikes (112) than under Obama (64) in his first term.

The 300th drone strike occurred under President Obama in early December 2012. The first drone strike to occur under his watch was just three days into his presidency, which is reported to have killed 12 civilians.
 President Obama is a lot better at deportation:
-Although President Obama supports setting a path to citizenship for many illegal immigrants, his administration deported a record 1.5 million of them in his first term.
-In addition, the latest data released by the government in recent days show that an unprecedented 409,849 people were deported for the fiscal year that ended Sept. 30.
The increase from the previous year occurred despite policy changes ordered by Obama to reduce the deportations of otherwise law-abiding illegal immigrants.

-Roughly 55 percent, or more than 225,000 people, deported in the past year were convicted of crimes such as drug offenses and driving under the influence. Immigration officials note that they deported nearly twice as many convicted criminals as in the year before Obama took office. That year, in 2008, criminals made up about a third of all deportations.
 President Obama is a lot better at running up the national debt:
-According to the treasury department’s count, the debt has grown $5.3 trillion since Obama took office in 2009, compared to $4.9 trillion in Bush’s eight years. (Politifact, September 2012)

-“Less Than Two Months Into President Obama’s Second Term, New Numbers Show The National Debt Increased By More Than $6 Trillion Since He Took Office. It’s The Largest Increase To Date Under Any U.S. President.” (Mark Knoller, “National Debt Up $6 Trillion Since Obama Took Office,” CBS News, 3/1/13) 

-Under Obama, The National Debt Has Increased By $6.1 Trillion, From $10.6 Trillion To $16.7 Trillion – An Increase Of 57 Percent. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 3/13/13)

President Obama is a lot better at running trillion-dollar deficits:

-“All The Trillion-Dollar Deficits Have Taken Place Under President Obama.” “The federal government ran up a $293 billion deficit in the first quarter of fiscal 2013, which ended Dec. 31, the nonpartisan Congressional Budget Office estimated Tuesday. The government’s fiscal year starts on Oct. 1st. At this pace, the deficit would be on pace to top $1 trillion for the fifth-straight year in 2013. All the trillion-dollar deficits have taken place under President Obama.” (Eric Wasson, “First-Quarter Deficit Was $293 Billion, CBO Says,” The Hill, 1/8/13) 
[Editor's Note: This list will be updated every once in a while until the end of President Obama's second term, and whenever some clever reporter reveals an interesting fact about the two presidents.]

Thursday, September 13, 2012

Walter Williams Explodes the Reasons to Tax the Rich, Again

In the face of our looming financial calamity, what are we debating about? It's not about the reduction or elimination of the immoral conduct that's delivered us to where we are. It's about how we pay for it — namely, taxing the rich, not realizing that even if Congress imposed a 100 percent tax on earnings higher than $250,000 per year, it would keep the government running for only 141 days.

Immoral Beyond Redemption || Walter Williams

Wednesday, October 19, 2011

A Prophetic Statement About Tax Cuts

From a 2004 column:
“The growing federal debt is virtually certain to lead to offsetting tax increases down the road. Does anyone really believe that in 10 years, when Social Security and Medicare benefits are imminently threatened, Congress will not try to increase revenues to keep the benefits flowing a bit longer?”
Daniel Sahviro, Quoted in "Tax Cuts = Big Government"

Monday, August 15, 2011

Warren Buffet does not speak for the rich

Warren Buffet does not speak for the rich. Warren Buffet speaks for himself.

If Warren Buffet wants to make a deposit to reduce the public debt he can give a donation here.

Sunday, July 31, 2011

Debt Debate = Political Theater, says Gary North

The debate over the debt ceiling is political theater. There is no commitment to cut spending, because cutting spending creates negative voter responses by specific groups who vote as a bloc. Politicians will not risk this. They prefer to vote for another increase in the debt ceiling, because the pain is diversified over millions of unorganized voters. These voters do not perceive the increased deficit as an immediate problem causing intense pain. They prefer to have Congress kick the can. That is what Congress will do.
Baloney, Gary North

WCF Chapter One "Of Holy Scripture" Sunday School (Sept.-Oct. 2021)

Our text for Sunday School (also "The Confession of Faith and Catechisms") Biblical Theology Bites What is "Biblical Theology...