During President Obama’s State of the Union address, he made numerous references to government “investments”; for anyone with a clue, he meant government spending. Even as the federal government’s debt approaches 100% of GDP, there was Obama calling for more spending. And not just any spending; he wants it to go the liberals’ pet programs du jour, while leaving in place spending for failed pet | Read More »
New York Times columnist Paul Krugman has been whining for well over a year that the $787 billion Porkulus (which was rescored by the CBO to $862 billion; plus, neither of these figures factors in the accrued interest for this spending since it’s all borrowed money, so the total will be higher) wasn’t large enough to have fixed America’s economic problems. He did again yesterday | Read More »
Omigod!!! Gee, why hasn’t anyone thought of that before?!? I mean other than all those times the Bush administration wanted to reform these money toilets? All I can say is, “DUH!!!” Rep. Barney Frank (D-MA) wants a single agency to replace Fannie Mae and Freddie Mac to handle the flushing of the financial system further into the crapper. Of course, this isn’t reform. What Frank | Read More »
Part I is here. Full disclosure; I am not an economist or an accountant, nor do I play those parts on TV. The opinions expressed below are mine and are based on observation and reading. As mentioned in Part I, Treasury Secretary “Tax Cheat” Geithner finally came up with more details on how the government plans to work out the mess in the financial and | Read More »
Full disclosure; I am not an economist or an accountant, nor do I play those parts on TV. The opinions expressed below are mine and are based on observation and reading. Treasury Secretary “Tax Cheat” Geithner finally unveiled his plan to get the credit and banking systems moving again by getting the federal government and private entities (backed by the federal government, including the Fed) | Read More »
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