Obama Stimulus Consigns US to ‘Banana Republic’ Territory

By: Brian Faughnan (Diary)  |  January 16th at 11:52 AM  | 

The Washington Times reports: The United States will “look like a banana republic” unless it gains control over its budget deficit and federal debt, economist Allen Sinai warned Congress on Thursday. “The deficit and debt prospects under almost any scenario are daunting,” Mr. Sinai, chief global economist for Decision Economics Inc., told the Senate Budget Committee. “This territory is uncharted, with no real historical analogue | Read More »

Not Everyone’s Going to Have ‘Skin in the Game’

By: Brian Faughnan (Diary)  |  January 12th at 02:46 PM  | 

Barack Obama promises that before his presidency is up, he’s going to demand ‘something from everybody’ to get the nation’s fiscal house in order. But there seems to be one sacred cow that will dodge the knife: government. And while it may not come as a surprise to anybody at all, it’s worth remembering that government still seems to be getting fat — as it | Read More »

Murtha: Defense Spending Under ‘Severe Pressure’

By: Brian Faughnan (Diary)  |  December 11th at 05:35 PM  | 

John Murtha warns that defense cuts are coming: Faced with immense pressure to trim its budget, the Pentagon should cut enlistment bonuses to military personnel, end its reliance on emergency supplemental spending and get serious about reforming its acquisition processes, a top congressional appropriator said Wednesday. “What I’m saying is, there’s going to be less defense spending,” House Defense Appropriations Subcommittee Chairman John Murtha, D-Pa., | Read More »