Yesterday, as reported in Money News, Moody’s made me laugh, with the following pronouncements: ” . . . it could move a step closer to cutting the U.S. Aaa rating if President Barack Obama’s tax and unemployment benefit package becomes law. . . . “The plan agreed to by Obama and Republican leaders last week […]
December 15th, 2010 · Comments Off on Moody’s: Bring It On!
December 15th, 2010 · Comments Off on The National Debt Is Congress’s Fault! Redux
The national debt exists today because when the nation went off the Gold Standard in 1971 and adopted its present non-convertible fiat currency system, Congress did not repeal its mandate requiring that the Government back all its deficit spending with already existing borrowed dollars whose convertibility was covered by our holdings of Gold. This Congressional […]
December 15th, 2010 · Comments Off on The National Debt Is Congress’s Fault!
I’m sick and tired of hearing progressive icons like Bernie Sanders, Keith Olbermann, Ed Schultz, and many, many others, talking about the evil of leaving an enormous national debt, now at $13 Trillion plus to our Grandchildren. And I’m especially tired of hearing Congresspeople and Senators complaining about this. The reason why I’m tried of […]
December 15th, 2010 · Comments Off on Congressional Progressives: Make ‘Em End Debt Issuance!
There’s a flood of reaction out there among Progressives and other Democrats criticizing the recent “tax deal” on grounds that President Obama was rolled again and got far too little for his agreement to extend the Bush Tax Cuts for the wealthy, and agree to Estate tax rates of 35%. I share that opinion. But […]
December 15th, 2010 · Comments Off on I Shared My Thoughts with Organizing For America
Today I was favored with a message from Organizing for America (OFA). They asked me to listen to a video clip from the President explaining the deal he made with the Republicans. The President spent a lot of time explaining the process he’s gone through and the constraints he’s under, and what it was possible […]
December 15th, 2010 · Comments Off on Throwing Savers Under the Bus?
In a reply to my post on a progressive deficit reduction plan, a commenter suggested that holding Federal interest costs at the rate of .0226 in the coming years would “crush” retirees and savers, and throw them under the bus. Presumably, the commenter feels the same about the possibility I brought up of eliminating interest […]