Posts Tagged ‘ government spending ’

What Germany and Greece tell us about the future of Europe

July 13, 2015
posted by

Libertarian Alliance Libertarian Alliance
by DJ Webb  

"Greece weakened its hand by refusing to countenance an exit from the eurozone. Only by threatening to leave the euro and repudiate its debts entirely -- thereby crystalling in excess of €300bn in losses elsewhere in the eurozone, plus untold billions in credit default swap liabilities (insurance against a Greek default sold as a financial instrument) -- could Greece negotiate from a position of strength. That would require a willingness to undergo initial pain in the transition to a national currency, before fully regaining national control over their economic affairs." (07/13/15)

http://tinyurl.com/p9nafc3  

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The Greek deceit

July 13, 2015
posted by

Liberty Unbound Liberty Unbound
by Wayland Hunter  

"It's remarkable to me, the degree to which reporting on the continuing Greek crisis is sympathetic to the Greek government, whose intention is to continue stiffing its creditors, and hostile to the 'hardline' states (such oppressors as Germany, Finland, Slovakia, and Slovenia), who want to obtain some assurances that if they increase their subsidies to spendthrift Greece, the Greek government won't continue to lie to them." (07/13/15)

http://libertyunbound.com/node/1435  

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Greece: Regime agrees to tax hikes, cuts in pension spending

July 10, 2015
posted by

Miami Herald    

"Greece's government has agreed to longstanding demands by creditors to impose sweeping sales tax hikes and cuts in state spending for pensions. In the text of proposals sent by Athens, and seen by The Associated Press, the government concedes to demands it had previously resisted, mostly on moving various categories of goods and services to higher sales tax rates. The proposals were sent in a last-ditch effort to reach a deal with rescue lenders after the country's [politicians'] previous program expired and missed repayments to the International Monetary Fund, and Greece was forced to close banks to prevent their collapse under the weight of mass withdrawals." (07/09/15)

http://tinyurl.com/oj2ay36  

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O’Malley has right solution for Puerto Rico’s debt crisis

July 9, 2015
posted by

John Nichols The Nation Blog
by John Nichols  

"Puerto Rico is not Greece. But the United States commonwealth is confronted with a debt crisis. It faces the threat of a brutal round of austerity cuts, which could make a bad circumstance dramatically worse. If ever there was a moment that called for enlightened leadership that recognizes both the economic and social challenges facing the Puerto Rico, this is it. Former Maryland governor Martin O'Malley heard that call as the crisis began to come into focus last month and declared, 'As a nation we must help our fellow US citizens not only because it's the right thing to do, but because our region's economic stability depends on it.'" (07/08/15)

http://tinyurl.com/nnfy53r  

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Greece: Regime submits “rescue deal” request

July 8, 2015
posted by

USA Today USA Today    

"Greece has submitted its request for a rescue deal in the first step toward getting a new bailout. Michel Reijns, spokesman for Jeroen Dijsselbloem, the president of the Eurogroup of finance ministers, said Greece submitted the request for a new support program from the European Stability Mechanism on Wednesday morning, the Associated Press reports. ... On Tuesday, European leaders told Greece to reach a new bailout agreement with its creditors by Sunday or face bankruptcy and expulsion from the euro currency system." (07/08/15)

http://tinyurl.com/ogk9uwu  

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Greece’s IMF collapse shows America what default looks like

July 7, 2015
posted by

Heartland Institute Heartland Institute
by Kyle Maichle and Emily Zanotti  

"Americans can learn from the Greek default. The United States faces an $18 trillion national debt and a federal budget deficit of $439 billion, brought on by unprecedented government spending. As global financial experts struggle to pinpoint the exact genesis of Greece's troubles, it's clear excessive borrowing and unsustainable spending habits are to blame. The United States, with a debt to gross domestic product ratio of 71 percent, may have time before it faces a Greek-style economic collapse, but it's certainly repeating Greece's financial mistakes." (07/006/15)

http://tinyurl.com/owv9h79  

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Think Greece can’t happen here? You’re wrong

July 7, 2015
posted by

Michael D. Tanner Cato Institute
by Michael D Tanner  

"Most Americans look at the rerun of the Greek euro crisis with something between smug amusement and condescending disapproval. When will those profligate Greeks get their economic house in order and stop looking to others to bail them out? But, should people living in glass economic houses really throw stones? After all, just like Greece, the United States government has been living beyond its means, running up an enormous debt that will eventually need to be repaid." (07/06/15)

http://tinyurl.com/qjk22cg  

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EU bureaucrat: Greek voters “not legally correct” to tell us to go f–k ourselves

July 7, 2015
posted by

The Telegraph [UK]    

"Greece's referendum was not 'legally correct,' the European Commission has declared. Valdis Dombrovskis, the Latvian-born EU vice president responsible for the euro, said the vote had 'complicated' the work of the creditors and had left the Greek government in a weaker, not stronger, negotiating position. A write-down of Greece's [politicians'] €380 billion (£270 billion) debt mountain is now 'off the table,' he said." (07/06/15)

http://tinyurl.com/ordt7vu  

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Washington’s role in Puerto Rico’s mess

July 6, 2015
posted by

Cato Institute Cato Institute
by Nicole Kaeding  

"Puerto Rico's governor announced this week that the small island territory would be unable to repay its $70 billion in outstanding debt. The commonwealth is in its tenth year of a depression and is losing its tax base as thousands of residents relocate to the mainland for better economic opportunities. The Puerto Rican government, which has spent wildly, is principally at fault for the crisis. But Washington, D.C. deserves a large portion of the blame for Puerto Rico's mess." (07/03/15)

http://tinyurl.com/nmz8x9h  

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Greece: Poll shows two sides neck and neck before referendum

July 3, 2015
posted by

Lompoc Record    

"The brief but intense campaign in Greece's critical bailout referendum ends Friday, with simultaneous rallies in Athens for 'Yes' and 'No' supporters in what an opinion poll shows will be a very close race. ... Prime Minister Alexis Tsipras called the referendum last weekend, asking Greeks to decide whether they should accept creditor reform proposals in return for vitally needed bailout funds. He is advocating a 'No' vote on Sunday. But those proposals are no longer on the table after negotiations with European creditors broke down last weekend and Greece's bailout expired on Tuesday, meaning the country no longer has access to the rescue loans. The 'Yes' campaign says the referendum is in fact a vote on whether Greece wants to remain in the euro and in Europe. The government rejects this as scaremongering, saying a 'No' vote will put it in a better bargaining position and will not lead Greece to leave the eurozone." (07/03/15)

http://tinyurl.com/q5fvupt  

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Greece: Regime will close banks for six days, impose limits on withdrawals

June 29, 2015
posted by

The Washington Post Washington Post    

"Greek citizens on Monday woke to shuttered banks and a closed stock market at the beginning of a fateful week that may determine whether they will be able to hold on to the euro currency. European markets were tumbling sharply after Greek leaders early Monday closed banks for six business days and imposed strict limits on ATM withdrawals, in a bid to stem bank failures as an international bailout was set to expire Tuesday. Greece's creditors and its leaders were poised to keep talking about whether there was any way to pull back from the brink of economic collapse amid anger and recriminations on both sides." (06/29/15)

http://tinyurl.com/omzkbkb  

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Puerto Rico: Padilla warns that politicians can’t pay bills they ran up

June 29, 2015
posted by

Fox News Fox News    

"Puerto Rico's governor believes the U.S. territory will not be able to pay back its $72 billion public [sic] debt, a spokesman told the Associated Press late Sunday. Gov. Alejandro Garcia Padilla's spokesman, Jesus Manuel Ortiz, confirmed that the island's government is seeking to defer payments while negotiating with creditors." (06/28/15)

http://tinyurl.com/oh5bdyn  

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Who really wants to impose austerity?

June 25, 2015
posted by

Brendan O'Neill spiked
by Brendan O'Neill  

"There's no doubt the recession has brought about tough times for many, especially the poor and people with insecure employment. But austerity is not being imposed. On the contrary, public spending continues to rise, as it has done every year since 1948. ... It's surreal that a government which increased public spending, including on benefits, should have been described as 'imposing austerity.'" (06/25/15)

http://tinyurl.com/pfmjn8e  

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FL: Scott vetoes record nearly $461 million in state budget

June 23, 2015
posted by

Miami Herald    

"Florida Gov. Rick Scott vetoed a record $461.4 million from the new state budget Tuesday, quickly wiping out many spending priorities of his fellow Republicans in the Legislature. ... Among the more notable items slashed was a controversial $2.05 million earmarked for sports facility IMG Academy in Bradenton, a project added to the budget by lawmakers without any public vetting just before a budget deal was reached." (06/23/15)

http://tinyurl.com/okhj9t8  

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Greece: Regime offers new proposals to avert default

June 23, 2015
posted by

Reuters Reuters    

"Greece took a step back from the abyss on Monday with the presentation of new budget proposals that euro zone leaders welcomed as a basis for a possible agreement in the coming days to unlock frozen aid and avert a looming default. European Council President Donald Tusk, who chaired an emergency summit of leaders of the 19-nation currency bloc, called the Greek proposals 'a positive step forward.' He said the aim was to have the Eurogroup finance ministers approve a cash-for-reform package on Wednesday evening and put it to euro zone leaders for final endorsement on Thursday morning." (06/22/15)

http://tinyurl.com/ob2t5h6  

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Euro falls amid Greek standoff, dollar up ahead of Fed

June 16, 2015
posted by

Reuters Reuters    

"The euro fell on Tuesday as it appeared more likely that debt-stricken Greece would default or have to leave the single currency, while the U.S. dollar rose at the start of a meeting by the Federal Reserve. Stocks mostly rose on the day, with shares in both Europe and the United States rebounding after a two-day decline, though the uncertainty surrounding Greece limited gains." (06/16/15)

http://tinyurl.com/o5u7p6t  

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Can they stop themselves?

June 11, 2015
posted by

Reason Reason
by staff  

"In this early stage of the 2016 campaign, Reason seeks to keep everyone's eyes on the prize of reducing the size and scope of government. Below, a guide to the candidates' and potential candidates' records on cutting government spending, especially during their terms in office but also in their policy positioning. At a time when our budgets are wildly unbalanced, when the national debt is at $18 trillion and growing, when debt service is poised to zoom past military spending during the next administration, and when baby boomer entitlements threaten to soak up half of government expenditures, there is no more important question to answer than this: What, at long last, are you willing to cut?" (for publication 07/15)

http://reason.com/archives/2015/06/10/can-they-stop-themselves  

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Should we dump the euro?

May 26, 2015
posted by

Mises Canada
by Frank Hollenbeck  

"The Greek drama continues to unfold with the risk of a 'Grexit' becoming increasingly likely. Yet, a large majority of the Greek people want to keep the euro. This would force the Greek government to live within its means, which isn't a bad thing. With anti-austerity parties gaining strength continent wide, Greece may be the first, and not the last, to leave. Yet, the problem in Europe is not the euro, but excessive government regulations, spending, and taxation." (05/25/15)

https://mises.ca/posts/articles/should-we-dump-the-euro/  

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Report: Islamic State rakes in $1 million per day in extortion

May 20, 2015
posted by

Times of India [India]    

"The Islamic State rakes in over $1 million per day in extortion and taxation [sic -- redundant!] and the dreaded terror group has enough assets to cover its expenses despite falling oil prices, according to a media report. The group minimizes costs by looting military equipment, appropriating land and infrastructure and paying relatively low salaries, a report in the New York Times said citing analysts at the RAND Corporation, a nonprofit organization that researches public policy." [editor's note: For the sake of comparison, the US regime takes in about 10,000 times as much -- $10.x billion -- per day, part of it directly extorted, part of it borrowed against promises of future extortion - TLK] (05/20/15)

http://tinyurl.com/mjb353f  

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Why government deficits and debt do matter

May 20, 2015
posted by

Richard M. Ebeling The Daily Bell
by Richard M Ebeling  

"Politicians have been able to offer more and more government spending to special interest groups to obtain campaign contributions and votes in the attempt to be elected and re-elected to political office. They can offer benefits in the present in the form of new or additional government spending, but they no longer have to explain where all the money will come from to pay for it. The 'costs' of that deficit spending is to be paid for by some unknown future taxpayers in some amount that can be put off discussing until that 'some time' in the future." (05/19/15)

http://tinyurl.com/myjvpvd  

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New military spending bill expands empire but forbids debate on war

May 18, 2015
posted by

Ron Paul Campaign For Liberty
by Ron Paul  

"On Friday the House passed a massive National Defense Authorization for 2016 that will guarantee US involvement in more wars and overseas interventions for years to come. The Republican majority resorted to trickery to evade the meager spending limitations imposed by the 2011 budget control act -- limitations that did not, as often reported, cut military spending but only slowed its growth. But not even slower growth is enough when you have an empire to maintain worldwide, so the House majority slipped into the military spending bill an extra $89 billion for an emergency war fund." (05/18/15)

http://tinyurl.com/ofrbdlv  

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URGENT! Do you oppose the Pentagon slush fund?

May 16, 2015
posted by

Jim Babka Downsize DC
by Jim Babka  

"This week, Congress is considering the 2016 National Defense Authorization Act (NDAA). That's where Congress skirts its own laws to spend MORE of YOUR money on THEIR pork. If you object, please tell Congress through DownsizeDC.org's 'Cut Federal Spending' campaign." (05/14/15)

http://tinyurl.com/kgu5s92  

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Heartland Daily Podcast, 05/11/15

May 12, 2015
posted by

Heartland Institute Heartland Institute
by  

"In today's edition of The Heartland Daily Podcast, Managing Editor of Budget & Tax News Jesse Hathaway speaks with Veronique De Rugy. De Rugy is a Senior Fellow at the Mercatus Center. De Rugy is on the podcast to explain how Congress is attempting to increase spending and bypass sequestration spending caps in the coming 2016 budget." [Flash video] (05/11/15)

http://tinyurl.com/oog7gsr  

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The welfare state needs abolition, not “reform”

May 7, 2015
posted by

Doug Bandow Cato Institute
by Doug Bandow  

"The United States is effectively bankrupt. Economist Laurence Kotlikoff figures the government faces unfunded liabilities in excess of $200 trillion. Making the programs run more efficiently would be helpful. But only transforming or eliminating such programs will save the republic. The left likes to paint conservatives as radical destroyers of the welfare state. If only." (05/07/15)

http://tinyurl.com/kxxdagj  

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How the Republican budget cons conservatives

May 7, 2015
posted by

Our Future
by Bill Scher  

"In March I asked 'Are Republicans Insane Enough To Propose a Balanced Budget?' because balancing the budget in 10 years without any tax increases would mean embracing politically suicidal cuts. The answer: Yes, they are! Republicans not only proposed it, they passed it, with the support of every vulnerable incumbent senator up for re-election next year. I've already discussed the risk this radical budget puts on those swing-state Republicans. But there's another risk to the GOP. That the conservatives in the Republican base soon realize this budget is a con." [editor's note: Yes, you're reading that right. This genius thinks that ONLY TAKING TEN YEARS to start spending less than they take is a mark of "radicalism" among politicians - TLK] (05/07/15)

http://tinyurl.com/logw52a  

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