Are you concerned about the federal deficit? William Lawson and Augustus Cho, Republican candidates for North Carolina's 4th District, face off in a debate hosted by Durham's All Interested Republicans on 13 February 2008.
William Lawson Augustus Cho North Carolina District Congressional Debate Introduction National Debt For Congress
ourfuture.org captures Roger Hickey, co-director of the Campaign for America's Future, testifying before the White House Commission on Fiscal Responsibility and Reform. At the hearing, Hickey says that while he supports smart economic policies to reduce our structural federal deficit over time, "we are in danger of killing or weakening needed growth in the name of reducing deficits." He warns that some of our deficit-reduction strategies are misguided. He also adds that "reducing the deficit cannot be our only economic policy goal. We also need to invest in the future." For more details, go to ourfuture.org
August 26, 1988 www.amazon.com Watch the full interview: thefilmarchived.blogspot.com Ron Paul's opposition to the Federal Reserve is supported by the Austrian Business Cycle Theory, which holds that instead of containing inflation, the Federal Reserve, in theory and in practice, is responsible for causing inflation. In addition to eroding the value of individual savings, this creation of inflation leads to booms and busts in the economy. Thus Paul argues that government, via a central bank (the Federal Reserve), is the primary cause of economic recessions and depressions. He believes that economic volatility is decreased when the free market determines interest rates and money supply. He has stated in numerous speeches that most of his colleagues in Congress are unwilling to abolish the central bank because it funds many government activities. He says that to compensate for eliminating the "hidden tax" of inflation, Congress and the president would instead have to raise taxes or cut government services, either of which could be politically damaging to their reputations. He states that the "inflation tax" is a tax on the poor, because the Federal Reserve prints more money which subsidizes select industries, while poor people pay higher prices for goods as more money is placed in circulation. He condemns the role of the Federal Reserve and the national debt in creating inflation. The minority report of the US Gold Commission states that the federal and state governments <b>...</b>
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We may not be able to address our current debt ceiling woes, but we can at least put them to a good beat. Visit the links below for more Reason coverage on the debt, deficit and government spending: Five Facts About the Debt reason.com The Facts About the Debt Ceiling reason.com Reason.com Topics: Government Spending reason.com "Raise the Debt Ceiling" is the third of a series of collaborations between Remy and Reason.tv. To watch Remy's other videos, go to http:youtube.com/goremy Music by Remy. Video shot and produced by Meredith Bragg. Download the mp3 and HD versions at reason.tv, the video channel for Reason magazine and http LYRICS: Raise da debt ceiling! Raise da debt ceiling! Raise da debt ceiling! Raise da debt ceiling! 14 trillion in debt but yo we ain't got no qualms droppin $100 bills and million dollar bombs spending money we don't have that's the name of the game they call me cumulo nimbus because you KNOW I make it rain bail out all kind of cars got all kind of whips ladies ask me how I get em I tell em STIMULUS Social Security surplus? Oh, guess what? it's gone I got my hands on everything like Dominique Strauss Kahn ain't got no Medicare trust fund son, that's just absurd spending every single penny that we see, son, have you heard? ain't got no moral objections ain't got kind of complaints ain't got no quantitative statutory budget restraints so... [CHORUS] Yo, we up in the Fed and we living in style Spending lots of money while we sipping crystal still <b>...</b>
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In response to the Republican proposal to cut $74 billion from the federal budget, Senator Harry Reid declared the cuts to be "unworkable" and "draconian". But how bad are is $74 billion in cuts when seen in the context of our $1.5 trillion deficit? This video visualizes the Republican budget cuts to give us a little more perspective.
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More:www.SHTFplan.com At the semi-annual Monetary Policy Report hearing in Congress yesterday, Chairman of The Federal Reserve Ben Bernanke smiles like a kid that has just been caught with his hand in the cookie jar when Senator Mark Kirk gives him a history lesson on currencies and federal debt, either that or he is smiling because he thinks the notion of a country without a federal deficit and debt is just hilarious. You decide. More:www.SHTFplan.com
What we really want is for our friends and family to see what we see. We want them to prepare like we are preparing. Maybe, they just happen to miss some of the important events that have occurred since the economic collapse of 2008. Or more likely, these details are only briefly described by the main media outlets or maybe not at all. In this video, the subjects of unemployment, the federal deficit, states in the red, state and local bankruptcies, real estate, OTC derivatives, gold's rise in price, the problem with underwater housing, California, Illinois, and New York in deep financial trouble or bankrupt, Quantitative easing, and the massive challenges we face with food are all discussed. Hopefully, this presentation can be used to help those we care about to wake-up and realize the financial ruin that is being papered-over right in front of their eyes.
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The 2011 Social Security trustees report was released this week and its findings are not reassuring for the American taxpayer. Indeed, the Treasury Department itself admits that the Social Security trust fund is unlikely to remain solvent under even the best-case scenario. In her latest appearance on Bloomberg TV, Reason columnist and Mercatus Center economist Veronique de Rugy explains the facts about Social Security by separating economic myths from economic realities. Myth 1 : There is no crisis. Social Security will never be insolvent. Fact 1: Under the best-case scenario, the trustees report finds that the probability of Social Security never becoming insolvent is less than 2.5 percent. Myth 2: Social Security won't contribute to the federal deficit for decades. Fact 2: Starting this year the program will run a cash flow deficit which will add to the federal deficit. Myth 3: The Patient Protection and Affordable Care Act fixed the funding problems related to Medicare. Fact 3: Under the best economic assumptions, less than half of all future Medicare spending will come from dedicated sources. For additional information, see de Rugy's article "The Facts About Social Security." reason.com
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majority.fm Cat Food Commission'er Alan Simpson thinks Social Security is contributing to the deficit and that if you want you're share, you're greedy and stupid. What a jackass.
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One of the main selling points of health care reform was that it would cut the federal deficit by a supposed $143 billion over the next decade and a trillion-plus dollars in the one after that. But not only will the legislation not cut one thin dime from the deficit, it will also certainly cost far more than the $940 billion in new spending already on the table for at least three reasons. These include: 1. Legislative Trickery. Congressional Democrats have pledged support for "the doc fix," a permanent upward adjustment to the rates at which Medicare providers are reimbursed. As Speaker Nancy Pelosi has said, "We have made a commitment to do this. This is very important." The cost of the "doc fix"? Some $247 billion over the next 10 years, wiping out any deficit reduction from health care reform. 2. HIgher Premiums. In 2006, Massachusetts passed health care reform very similar to what President Obama just signed. The result? The Bay State now has the highest premiums in the country and cost about 33 percent more than expected. 3. Bad Accounting. The government is terrible at predicting how much programs will cost, especially when it comes to medical care. Initial 1960s' projections of Medicare's costs in 1990 had the program costing about $12 billion; the actual result was almost 10 times that amount. As a Joint Economic Committee report notes, "Major health care proposals have almost always cost more...than the highest cost estimates published while the legislation was <b>...</b>
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A musical parody of the Forsey/Cara/Moroder song "Flashdance ... What A Feeling," about the federal deficit and the debt ceiling. Parody Lyrics: MARCY SHAFFER Music Director: GREG HILFMAN Lead vocal: GARY STOCKDALE Background vocals: SCOTTIE HASKELL, ANGIE JARÉE, GARY STOCKDALE For "CRASH DANCE" and many more great political musical parodies, visit VERSUS -- where politics and culture do their time in rhyme -- at versusplus.com.
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Super Committee spending cuts: real or fake? The Congressional Super Committee's has been charged with presenting a federal deficit reduction plan by November 23rd. But we know from experience that the "cuts" presented by Congress are rarely ever true reductions in net spending. A couple minutes with a whiteboard will illustrate a basic concept that our legislators refuse to grasp.
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Susan F. Feiner claims that an economy without a deficit is like a fish without water. Reducing the US federal deficit will make unemployment and poverty worse--way worse. And that means that women's economic condition will deteriorate even further.
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RonPaul2012.com This week marks the deadline for the so-called congressional Super Committee to meet its goal of cutting a laughably small amount of federal spending over the next decade. In fact the Committee merely needs to cut about $120 billion annually from the federal budget over the next 10 years to meet its modest goals, but even this paltry amount has produced hand-wringing and hysteria on Capitol Hill. This is only cutting proposed increases. It has nothing to do with actually cutting anything. This shows how unserious politicians are about our very serious debt problems. To be fair, however, in one sense members of the Super Committee face an impossible task. They must, in effect, cut government spending without first addressing the role of government in our society. They must continue to insist the federal government can provide Social Security, Medicare, and Medicaid benefits in the future as promised, while maintaining our wildly interventionist foreign policy. Yet everyone knows this is a lie. Keep in mind that the 2011 federal deficit alone was about $1.3 trillion, which means the Super Committee needs to cut that much PER YEAR rather than over a 10 year period. If Congress ever hopes to address its debt problem, it must first stop accumulating any new debt immediately, in 2012. Federal revenue likely will be about $2.3 trillion in fiscal 2012. The 2004 federal budget was about $2.3 trillion. So Congress simply needs to adopt the 2004 budget next year and <b>...</b>
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Visit www.strengthensocialsecurity.org 7 Principles of the Strengthen Social Security Campaign 1) Social Security did not cause the federal deficit; its benefits should not be cut to reduce the deficit. 2) Social Security should not be privatized in whole or in part. 3) Social Security should not be means-tested. 4) Congress should act in the coming few years to close Social Security's funding gap by requiring those who are most able to afford it to pay somewhat more. 5) Social Security's retirement age, already scheduled to increase from 65 to 67, should not be raised further. 6) Social Security's benefits should not be reduced, including by changes to the COLA or the benefit formula. 7) Social Security's benefits should be increased for those who are most disadvantaged Join with us and say hands off Social Security, visit www.StrengthenSocialSecurity.org
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Do you know what the national debt means to you? This video explores some of the most shocking facts about the current US debt, including the whopping $125000 each citizen would have to owe today if we had to pay off our country's debt.
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I'm Alex Villarreal with the VOA Special English Economics Report, from voaspecialenglish.com | http Continuing debt problems in Greece and Portugal. The banking crisis in Ireland. A trillion-dollar deficit in the United States. These are all reasons why high levels of public debt are a big worry around the world. Countries that keep spending a lot more than they earn may not be able to repay their debts. That risk of default can make it harder and costlier for them to borrow more money. Heavy debt can also affect a country's competitiveness. Voter anger at government spending and taxes helped lead to the big Republican gains in America's congressional elections in November.President Obama says for the economy to improve, the government must cut spending and reduce its deficit. In February, he formed the National Commission on Fiscal Responsibility and Reform. The two chairmen are Erskine Bowles, a Democrat, and Alan Simpson, a Republican. In November, the chairmen presented their own ideas for how to cut the federal deficit to about two percent of the economy by twenty fifteen. The administration estimates this year's deficit at about ten and a half percent. The two chairmen say their proposals would cut the deficit by almost four trillion dollars over the next ten years. One hundred billion dollars would come from the military. Other proposals would cut the federal workforce by ten percent and freeze civilian pay.The chairmen propose to simplify the tax laws and reduce <b>...</b>
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View the full speech here: millercenter.org President Clinton gives his first address before a joint session of Congress. He gives the economy his primary focus. He advocates for an emphasis on investment rather than consumption as well as a reduction in the federal deficit, government inefficiency, and government spending. February 17th, 1993
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"The nation is not broke, my friends," opines guerilla filmmaker and amateur accountant Michael Moore. "Wisconsin is not broke. Saying that the country is broke is repeating a Big Lie." Relax, America, it turns out that all that talk about local, state, and federal government being broke is just total BS or, as The New York Times puts it, "obfuscating nonsense...a scare tactic employed for political ends." Moore is a bit skimpy on evidence, simply asserting that all we need to do to make things right is to shake down rich people who "have diverted...wealth into a deep well that sits on their well-guarded estates." The Times' case isn't much more compelling. "A country with a deficit is not necessarily any more 'broke' than a family with a mortgage or a college loan," says the paper of record. "And states have to balance their budgets." OK, but what should you call a family or a country that spent about 20 percent of GDP for each of the past 60 years while raising less than 18 percent of GDP each year? And that is facing a massive balloon payment (let's call it entitlement spending on Medicare and Social Security) in the not-too-distant future? And has to keep borrowing money just to pay today's bills? And has no chance of increasing its take-home pay to cover its expenses? It's a pretty safe bet that most of us would call that family or country broke. Or something along those lines. Here are federal deficit projections from President Barack Obama admits in his own <b>...</b>
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Gen Y'ers express their real thoughts on the national debt and what it means to their future.
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For more on the budget freeze, visit: www.politicalmathblog.com or follow me on Twitter at: www.twitter.com President Obama has recently announced that there will be a budget freeze on a significant portion of the next 3 years worth of budgets. This video walks through what that budget freeze looks like and how much money is actually saved by implementing this policy.
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Former Republican Gov. Gary Johnson was the top elected official in New Mexico from 1994 through 2002. He took office after beating a primary opponent backed by the Republican party and he won election twice in a state that has two-to-one Democratic registration. Born in 1953 and a one-time competitive skiier, Johnson was not your typical governor. Instead, he governed as fiscally responsible and socially tolerant. He didn't raise taxes at all during his time in office and pushed through an aggressive privatization agenda that reduced costs while improving services. He vetoed 750 bills and trimmed the state workforce by 1000 positions at the same time. He was also the highest-level elected politician and one of the most vocal proponent of drug legalization during his tenure. Johnson is now fronting the Our America initiative, which is dedicated to advancing the public debate on topics ranging from immigration to civil liberties to free enterprise to the federal deficit to the war on drugs to Afghanistan and Iraq. He is frequently mentioned as a possible Republican presidential candidate in 2012. Reason's Matt Welch and Nick Gillespie talked with Johnson about the issues of the day—and what it was like to climb Mt. Everest shortly after busting his leg. Approximately 10 minutes. Shot by Dan Hayes and Meredith Bragg; edited by Bragg. Note: This is a condensed version of a longer interview. For the full half-hour version, go to reason.tv Back in 2001, Reason called Johnson <b>...</b>
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RightChange.com's newest release "Do The Math" gives you an idea of just how BIG of a problem our Federal Deficit really is.
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The central bank uses quantitative easing to inflate asset prices, which looks remarkably similar to money laundering. To find economic articles written by Ivory Johnson, click www.examiner.com
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My take on politics and the federal budget situation. Other videos and more at standupeconomist.com!
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This week on ;Consuelo Mack WealthTrack: why the dollar, gold and the ballooning federal deficit are critical issues for investors. Consuelo sits down for a rare one-on-one interview with contrarian market observer and historian James Grant, publisher of the influential newsletter, Grant's Interest Rate Observer.
Rep. Jim Moran (D-VA) held a town hall meeting on April 7 about the possibility of a government shutdown. Here, he refused to answer a constituent's question about our $1.3 trillion federal deficit and $14 trillion national debt. (Note: Video cuts out at the end because I briefly lost the audio on my camera.) www.retirejimmoran.com http www.twitter.com
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President Obama's announced budget freeze will do little to address the national debt. The proposed plan only affects 1/8th of the overall budget, and fails to do anything about the escalating entitlement expenditures that are responsible for the majority of future borrowing.
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Topics in todays show: -- The federal deficit -- Obamacare -- The next moon trip -- Cap and taxStarring: Jodi Miller Director: Bruce Roundtower Executive Producer: Matthew Sheffield NewsBusted is a comedy webcast about the news of the day, uploaded every Tuesday and every Friday. If you like the show, be sure to tell your friends and family! Feel free to post your comments on this video, we love them. We also love seeing how many people wont read this disclaimer and realize the laughtrack is a joke itself. Think youre funny? Send your (short jokes) jokes to newsbusted at dialognewmedia.com. If we use them, well pay you USD $50 for each one.
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Revealing investigative news report on the real fiscal caner that will end up bankrupting the United States. US Comptroller General David Walker discusses the Dirty Little Secret Everyone In Washington Knows. Entitlement programs, baby boomer generation, medicare and the prescription drug bill. Medicare is a FIVE TIMES greater problem than that of Social Security. Discover what is driving the skyrocketing health epidemics and health care costs of baby boomers. What is our Big Pharma driven pill for every ill brought us to? The new release movie that every American NEEDS to see! www.FoodMattersMovie.com
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The Canadian Federation of Independent Business (CFIB) is pleased to see some measures to tackle the deficit and recognize the contribution of small business in growing the economy and creating jobs but more could have been done. Building confidence among small business owners will do more to create jobs across Canada than any other measure, said Catherine Swift, CFIBs President and CEO.
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Tax Day (April 18) is fast approaching, which means anxiety and night sweats for about 99 percent of taxpayers. And bitching and moaning by those at the top of the income pyramid about how they aren't forced to pay more in taxes. Secretary of State and cattle-futures queen Hillary Clinton, super-investor Warren Buffett, and best-selling author Stephen King have all recently carped about how rich folks like them should be paying more in taxes. King recently told a Florida rally, "As a rich person, I'm paying 28 percent in taxes. What I want to ask you is, Why am I not paying 50?" Such rhetorical questions miss the point when it comes to the country's balance sheet. The US doesn't have a revenue problem or a tax-rate problem. We've got a spending problem. Since 1950, revenue from all sources has averaged around 18 percent of Gross Domestic Product, despite top tax rates that have fluctuated from over 90 percent to the high 20-percent range. So despite all efforts to jack up revenue (or reduce it), that's what the government can expect to work with. Yet spending has averaged about 20 percent of GDP - and is currently at a whopping 25 percent of GDP, a figure not seen since World War II. President Obama's budget plan forecasts spending at 23 percent of GDP over the next decade while Rep. Paul Ryan's GOP plan calls for 20.5 percent. There's your deficit right there, folks. But King, Clinton, and Buffett can always pay more in taxes to retire federal debt held by the public <b>...</b>
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April 8, 2011: Al Korelin of the Korelin Economics Report talks with Congressman Ron Paul (R-TX) about the surging prices in the precious metals markets, specifically that of gold and silver, and their relationship to the growing federal deficit. Dr. Paul expounds his belief that he sees a continued decline in the USD and that gold and silver will continue to rise as a result. Congressman Ron Paul of Texas enjoys a national reputation as the premier advocate for liberty in politics today. Dr. Paul is the leading spokesman in Washington for limited constitutional government, low taxes, free markets, and a return to sound monetary policies based on commodity-backed currency. He is known among both his colleagues in Congress and his constituents for his consistent voting record in the House of Representatives: Dr. Paul never votes for legislation unless the proposed measure is expressly authorized by the Constitution. In the words of former Treasury Secretary William Simon, Dr. Paul is the "one exception to the Gang of 535" on Capitol Hill. To learn more, visit: paul.house.gov http www.evenkeelmedia.com Sign up for our FREE newsletter! https
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1988 www.amazon.com Watch the full interview: thefilmarchived.blogspot.com The political positions of Ron Paul (R-TX), former United States presidential candidate in 1988 and 2008, have been labeled conservative, Constitutionalist, and libertarian. Ron Paul's nickname "Dr. No" reflects both his medical degree and his assertion that he will "never vote for legislation unless the proposed measure is expressly authorized by the Constitution." This position has frequently resulted in Paul casting the sole "no" vote against proposed legislation. Paul believes the size of federal government must be decreased substantially. In order to restrict the federal government to its Constitutionally authorized functions, Paul regularly votes against almost all proposals for new government spending, initiatives, or taxes, often opposed by a heavy majority of his colleagues. For example, on January 22, 2007, Paul was the lone member out of 415 voting to oppose a House measure to create a National Archives exhibit on slavery and Reconstruction, seeing this as an unauthorized use of taxpayer money. Paul would substantially reduce the government's role in individual lives and in the functions of foreign and domestic states; he says Republicans have lost their commitment to limited government and have become the party of big government. He would eliminate many federal government agencies, such as the US Department of Education, the US Department of Energy, the US Department of Commerce, the US <b>...</b>
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Today marks the 10th anniversary of the first of President George W. Bush's two tax cuts, which have played a disproportionate role in blowing up the deficit and debt. As the Center for American Progress' Michael Ettlinger and Michael Linden found, the federal debt would be at a sustainable level today — even with the wars and the financial crisis — were it not for the Bush tax cuts. ThinkProgress has assembled this short animation showing how the Bush tax cuts drove the deficit and debt up and are still ruining the budget picture today. Adding insult to injury, in 2001, Bush promised that he would pay off the federal debt within 10 years. thinkprogress.org
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