Posts Tagged ‘ government debt ’

Budget balloon

February 4, 2015
posted by

The Cagle Post
by Nate Beeler  

Cartoon. (02/02/15)

http://www.cagle.com/2015/02/budget-balloon/  

No Comments »

Obama to propose $3.99 trillion budget

February 2, 2015
posted by

USA Today    

"President Obama is unveiling a $3.99 trillion budget that is 'designed to bring middle class economics into the 21st Century,' the White House announced Monday. ... Monday's proposed budget also calls for ending the automatic spending limits known as sequestration, the result of the 2011 stand-off over the debt limit. The plan calls for 7% increases over sequestration limits for national defense [sic] and domestic programs, according to the White House. ... The projected deficit for Obama's proposed budget is $474 billion, which officials said is only [sic] 2.5% of the gross domestic product." (02/02/15)

http://tinyurl.com/nc4ge4d  

No Comments »

Greece: New regime asks ECB to keep banks afloat as deal sought on old politicians’ debts

February 2, 2015
posted by

Bloomberg    

"Greek Prime Minister Alexis Tsipras began the hunt for allies against German demands for austerity [sic] as his week-old government appealed to the European Central Bank not to shut off the money tap. Finance Minister Yanis Varoufakis said his country['s politicians] won't take any more aid under [their] existing bailout agreement and wants a new deal with its[' previous politicians'] official creditors by the end of May. While Greece tries to wring concessions on its [politicians'] debt and spending plans, it needs the ECB's help to keep its banks afloat, Varoufakis said at a briefing in Paris late Sunday." (02/01/15)

http://tinyurl.com/l4vdo8h  

No Comments »

Invest in the future! Invest in … government debt?

January 4, 2015
posted by

Campaign For Liberty Campaign For Liberty
by Norm Singleton  

"Yep, the Obama administration has created a new investment fund that allows private citizens to create Roth IRAs that only invest in Treasury bonds. ... Investors in the fund don't have to pay fees and can contribute as much or as little to the fund as they want. Those of you with investment experience may wonder how Comerica, the firm hired to run this program, can profit under these conditions. The answer is (I hope you're sitting down) ... they are receiving taxpayer subsidies." (12/30/14)

http://www.campaignforliberty.org/invest-future-invest-government-debt  

No Comments »

Stop the outrageous spending

December 15, 2014
posted by

Heartland Institute Heartland Institue
by Jesse Hathaway  

"At some point between Thanksgiving and December 1, the federal government made history, as the value of outstanding U.S. Treasury securities exceeded $18 trillion -- that’s an 18 with 12 trailing zeroes. At some point, such numbers begin to lose their meaning because the amounts exceed most people’s ability to comprehend. The abstraction of such numbers, in turn, makes it difficult to understand just how gigantic a problem the national debt is. However, using tangible objects to represent the magnitude of the debt can help solve that problem." (12/14/14)

http://blog.heartland.org/2014/12/stop-the-outrageous-spending/  

No Comments »

Shutdown theater (off-off Broadway follies)

December 15, 2014
posted by

Thomas L. Knapp Center for a Stateless Society
by Thomas L. Knapp  

"It’s surprising what passes for high political drama these days. After a DC dust-up similar to, but neither as exciting as watching paint dry nor as convincing as professional wrestling, the US House of Representatives passed a $1.1 trillion 'Cromnibus' bill to fund the federal government through September 2015, passing it on to the US Senate, which most expect it (as I write this) to pass as well. Why does the whole thing fail as theater? Two reasons: First, it lacks the true conflict essential to a good yarn. ... Secondly, the stakes are too low." (12/12/14)

http://c4ss.org/content/34098  

No Comments »

DC: Politicians reach “deal” to steal/borrow and spend $1.1 trillion

December 10, 2014
posted by

The Washington Post Washington Post    

"Congressional leaders have reached agreement on a massive $1.1 trillion spending agreement that will keep most of the federal government funded through next September. Months of protracted negotiations between Democratic and Republican leaders concluded on Tuesday night, with passage expected in the coming days, according to top aides. Final details of the bill were still being sorted out and leaders were still mulling whether to approve a stopgap bill to give lawmakers a few more days to pass the final bill and avoid a government shutdown.

http://tinyurl.com/lchh8tu  

No Comments »

Is it “game over” for Ukraine?

December 9, 2014
posted by

Richard W. Rahn Cato Institute
by Richard W. Rahn  

"Ukraine will likely go bankrupt within the next few months. This past Friday, it was reported that the country has less than $10 billion in foreign-currency reserves. My sources (who have been spot on the Russian/Ukrainian situation over the last couple of years) tell me the situation is actually worse than the official reports in that Ukraine is now losing foreign reserves at a rate of $3 billion a month and that rate is accelerating. Even worse, some of the reserves may be 'illiquid' -- which likely means they have already been spent or even stolen." (12/08/14)

http://www.cato.org/publications/commentary/it-game-over-ukraine  

No Comments »

The world’s larges subprime debtor: The US government

September 25, 2014
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by David Howden  

"At the heart of the crisis of 2008 was a common cause acknowledged by almost all commentators. Borrowers now infamously known as 'subprime' (or more politely, 'non-prime') were the main reason behind the meltdown. As financial institutions extended loans to those with less than stable means to repay their debts, the foundation of the financial world was destabilized. Six years on and these subprime debtors are largely a relic of the past. That fact notwithstanding, there is a new threat lurking in the global financial arena. This one borrower is far larger than all the previous subprime characters combined, and poses a far more dangerous hazard to the financial stability of nearly all (if not all) of the world’s citizens. I am speaking, of course, of the United States government." (09/24/14)

http://tinyurl.com/nesrzrh  

No Comments »

Government debt: US’s leading export?

September 4, 2014
posted by

Campaign For Liberty Campaign For Liberty
by Norm Singleton  

"According to new figures from the Treasury Department, foreign holdings of US debt now exceed $6 trillion dollars. China is the leading holder of US debt, holding $1,268,400,000,000 at the end of June. ... The large amount of US debt held by China raises the question of what will happen if (when?) China -- and other foreign investors -- decide that US Treasuries are not such good investments after all." (09/02/14)

http://tinyurl.com/lmldn33  

No Comments »

Argentina regime bonds steady as investors brace for long fight

August 21, 2014
posted by

Reuters    

"Argentina's latest debt swap proposal may have made resolution of its default mess an even more distant prospect, but the sovereign's bond prices still remain surprisingly robust. Indeed the latest gambit in the long-running Argentine saga -- a complicated swap that risks running afoul of US law and that most believe can't work -- has hardly hit prices at all. Argentina's dollar bonds dropped two points Wednesday when the debt swap plan was announced, but that was a far cry from the freefall that many in the market were expecting." (08/21/14)

http://tinyurl.com/ldpbf8d  

No Comments »

Report: Government accounting hides debt

August 7, 2014
posted by

Competitive Enterprise Institute Competitive Enterprise Institute
by Bill McMorris  

"Your state may not be as fiscally solvent as politicians have led you to believe, according to a new report. The Competitive Enterprise Institute (CEI) released a report in July detailing the multi-trillion dollar gap in state pension funding that could soon render many states, including Illinois and California, insolvent. The report paints a dire picture of a relatively obscure political issue that has been decades in the making and could drive entire states into bankruptcy." (08/05/14)

http://cei.org/content/report-government-accounting-hides-debt  

No Comments »

Vulture funds vs. Argentina

August 5, 2014
posted by

C4SS Center for a Stateless Society
by Alan Furth  

"Whenever vultures succeed in collecting the full value on defaulted government bonds, the ones who end up paying are, obviously, the taxpayers, the general citizenry of a given country. The local politicians who borrowed the money in the name of the people, obtaining enormous personal financial gains in process, won’t contribute to paying those debts any more than the regular Joe who does real work for a living. How can anyone in their right minds think that will discipline the political class into fiscal frugality of any kind?" (08/05/14)

http://c4ss.org/content/30043  

No Comments »

US politicians expect to borrow $192 billion in third quarter, $187 billion in fourth

August 4, 2014
posted by

Washington Post    

"The U.S. Treasury Department has raised by $22 billion its estimate of what it needs to borrow in the third quarter to keep the government operating. Treasury said Monday that it expects to borrow $192 billion in the July-September period, up from an estimate of $170 billion announced in April. The borrowing increase is mainly due to the government taking in less in revenue than previously expected. Treasury also said it expects to borrow $187 billion in the fourth quarter of the year." (08/04/14)

http://tinyurl.com/l87v4cn  

No Comments »

Argentina: Another Keynesian success story that wasn’t their fault

August 4, 2014
posted by

Robert P. Murphy Mises Canada
by Robert P. Murphy  

"On July 30 S&P declared Argentina’s government technically in default on $13 billion of its sovereign bonds that were restructured after the government’s previous default back in 2002. Inasmuch as several of the world’s major Keynesian bloggers never tire of pointing out how great their 'model' of the economy has been performing, it’s worth reminding innocent readers of just how awful the Keynesian policy advice has been." (07/21/14)

http://tinyurl.com/kg34n62  

No Comments »

Argentina: Politicians default on debt, blame the US

July 31, 2014
posted by

Los Angeles Times    

"Argentina's bonds and stocks fell sharply in trading Thursday as the country['s government] slid into default on its international debt for the second time in 13 years. As eleventh hour negotiations between government negotiators and 'vulture' funds holding bonds foundered Wednesday night, bond rater Standard & Poor's declared the country to be in 'selective default.'" (07/31/14)

http://tinyurl.com/ohtolnx  

No Comments »

Understanding Argentina’s coming default

July 31, 2014
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Nicolas Cachanosky  

"At the time of this writing, Argentina is a few days away from formally defaulting on its debts. How could this happen three times in just twenty-eight years?" (07/30/14)

http://mises.org/daily/6825/Understanding-Argentinas-Coming-Default  

No Comments »

Argentina: Regime scrambles to avoid default as deadline looms

July 30, 2014
posted by

Modesto Bee    

"Argentina officials met Tuesday with a mediator in New York in a last-ditch move to resolve a dispute with American creditors that has the South American nation on the brink of default, a development that would have dire consequences for the already struggling Argentine economy. Argentina has until midnight Wednesday to avoid default by paying holdout creditors, negotiating a settlement or receiving a stay, lending an air of urgency to the final hours of negotiations." (07/29/14)

http://tinyurl.com/muujlwg  

No Comments »

DC forgets about the debt

July 24, 2014
posted by

Michael D. Tanner Cato Institute
by Michael D. Tanner  

"Although it is expected to top $17.6 trillion by August 1, the national debt has dropped out of the headlines recently. Out of sight may indeed mean out of mind, especially in Washington, but that hardly means the problem has gone away -- as a new report from the Congressional Budget Office makes clear." (07/23/14)

http://www.cato.org/publications/commentary/dc-forgets-about-debt  

No Comments »

Argentina: Kirchner says government will not default

July 24, 2014
posted by

ABC News    

"Argentina's president said Wednesday that her country will not go into default because it has been paying debts to bondholders on time. The government is in negotiations to resolve a dispute with creditors over $1.5 billion in unpaid debts that could lead Argentina to its second default in 13 years." (07/23/14)

http://tinyurl.com/p3gf4xb  

No Comments »

Let’s not pay our debts because … “I choose Argentina”

July 24, 2014
posted by

The Canal
by Belen Marty  

"I was taught that when someone asks to borrow money, it must be returned. Right? Is there anything different going on if the borrower is the state and not an individual?" [editor's note: Yes, there are two differences. The first difference is that the only way the state can pay back the money is to steal it. The second difference is that the lender knows this. If you want the loans you make repaid, don't knowingly loan to criminals. If you knowingly loan to criminals, don't whine afterward when the criminals act like criminals to your injury rather than to your profit - TLK] (07/23/14)

http://tinyurl.com/lza79zn  

No Comments »

CBO budget forecast? Debt, debt and more debt

July 17, 2014
posted by

Bruce McQuain QandO
by Bruce McQuain  

"So much for 'and we'll save every family $2,500 a year on their health care insurance.' Costs aren't going anywhere but up. Of course, you can count on the propagandists to now claim they'll be going up slower than had they let the market work. As with most of the 'facts' these yahoos throw around, it will be a baseless claim meant to excuse their failure. And as the debt piles up even more, so does the amount of money it takes to pay the interest ..." (07/15/14)

http://www.qando.net/?p=16951  

No Comments »

Understanding public pension debt

July 9, 2014
posted by

Competitive Enterprise Institute Competitive Enterprise Institute
by Robert Sarvis  

"State government pension debt burdens labor markets and worsens the business climate. To get a clear picture of the extent of this effect around the nation, this paper amalgamates several estimates of states’ pension debts and ranks them from best to worst. Today, many states face budget crunches due to massive pension debts that have accumulated over the past two decades, often in the billions of dollars. There are several reasons for this." (07/09/14)

http://cei.org/content/understanding-public-pension-debt  

No Comments »

Default deja vu for Argentina

June 30, 2014
posted by

The Canal
by Daniel Duarte  

"On Monday, June 30, Argentina will probably enter into technical default. Again. A New York judge ruled on Friday that the US$832 million payment to the country’s holders of restructured bonds due on Monday was illegal, since it did not include the $1.5 billion payment to the holdout 'vulture funds.' The future of Argentina’s financial credibility is still uncertain, as Cristina Kirchner’s administration stubbornly refuses to honor its commitments." [editor's note: Anyone who buys government debt is by definition a "vulture," and since repayment of that debt necessarily requires theft, Kirchner is (partially) doing the right thing for the wrong reasons - TLK] (06/30/14)

http://tinyurl.com/nj6s27t  

No Comments »

Quit crying “vulture”: Argentina, you deserved this ruling

June 22, 2014
posted by

The Canal The Canal
by Nicolas Marquez  

"As if the discredited and dilapidated populist regime of Cristina Kirchner was in need of more bad news -- it is involved in scandals of destabilizing inflation and corruption -- now the US Supreme Court has ruled in favor of Argentina's bondholders. These creditors have been mislabeled 'vulture funds,' a pejorative nickname that the defaulting debtor uses to qualify those who justly and legitimately demand what is rightfully theirs." [editor's note: No sympathy for the Kirchner regime, but if you loan money to a criminal gang which can only repay it through theft, no, repayment is not "rightfully yours;" you're just a co-conspirator who got left holding the bag - TLK] (06/19/14)

http://tinyurl.com/mfdrka7  

No Comments »

Our Sponsors



Making a living off your Drupal site?

Drupal Managed Hosting

Fed up with Maintenance and Hosting companies?