Daily Archives: August 12, 2010

California runs a billion-dollar deficit in first month of fiscal year

Fiscal hawks couldn’t ask for a better demonstration of the real problem in government deficits.  California has struggled with its budget for years, repeatedly claiming to have solved gaping holes in its finances, only to see them arise again.  Yesterday,…

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The worst is yet to come

Oh yes…there are many things worth pointing out in this chart showing the deficit to GDP of the Bush and Obama administrations, based on numbers from the Congressional Budget Office (CBO).

The years 2014-2020. Let’s say you blame the…

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Please

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TAX CUTS THAT ARE EXPIRING

Cuts On Dividends And Capital Gains Among Tax Cuts Set To Expire

Tax cuts enacted in 2001 and 2003 are to expire in January unless Congress renews some or all of them. The cost of extending them by a decade:…

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Consumers now owe more on their student loans than their credit cards.

Wall Street Journal–Americans owe some $826.5 billion in revolving credit, according to June 2010 figures from the Federal Reserve. (Most of revolving credit is credit-card debt.) Student loans outstanding today — both federal and private — total some $829.785 billion…

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H1N1 pandemic is over

The global H1N1 pandemic is over, the Centers for Disease Control and Prevention and the World Health Organization said Tuesday.

“We are moving out of the pandemic into the post-pandemic period,” said Margaret Chan, director-general of the WHO.

Chan said…

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Fed Leads America “To The Brink Of Collapse”

Fed Leads America To The Brink Of Collapse 120810top

Paul Joseph Watson wrote that the Bernanke announcement that central bank will buy US debt marks point of no return

When even the New York Times and CNN are admitting that the United States faces not only a double-dip…

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Bailouts Went To Foreign Banks:

Thursday, Aug 12th, 2010

Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew 120810bailoutA Congressional Oversight Panel issued today highlights the fact that large portions of the Treasury’s $700 billion bailout fund have gone straight into the coffers of foreign banks, a fact that we knew months ago, but…

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