YAL in Action

Check out YAL activities on campus and updates from around the liberty movement.

Tag: Debt
  • The Debt is Scary

    On Thursday, October 20th, the Young Americans for Liberty chapter at Kutztown held an event where we visualized the United States’ national debt. To execute the event, we used 22 4’x2’ plywood boards and wrote the national debt on it. We made our debt clock close to the date we were holding the event so …

  • Reviewing Obama’s Speech

    President Obama followed the government’s credit downgrade with a speech to the nation, but don’t worry if you didn’t get a chance to see it — you’ve probably heard the speech before in his other press conferences. He opened up this talk by discussing the S&P downgrade. Like many on his side of the aisle, …

  • Straightening out Keynesians

    John Maynard Keynes’ “spend your way to prosperity” theory is still alive and well even as we see the negative effects that the “stimulus” plans, designed based on his theory, have had on our economy. Commondreams.org author David Morris illustrates, in his August 7th article, some of the common misunderstandings that people have about economics. …

  • US Debt Now at 100% of GDP

    We all knew it was going to happen eventually, and now the moment has arrived. Just two days after the debt ceiling increase was signed into law, the United States’ debt reached 100% of GDP, or how much the economy is annually worth. The debt over the last two days rose $238 billion to bring …

  • Debt Ceiling Compromise: The Best We Could Expect

    While the “debt ceiling compromise” is far from perfect, it could have been a lot worse. This bill does not contain any tax increases. That’s a big concession by the Democrats. It doesn’t mean that we won’t see any new taxes in the next few years — it just means that they will have to …

  • Rhode Island Town Goes Bankrupt

    America staved off the threat of bankruptcy today (for the time being, at least) so we can kick the can of fiscal irresponsibility down the road a little further. However, not every city has the same luxuries afforded to Washington.  Central Falls, Rhode Island has announced that it will file for bankruptcy, the last course …

  • CBO BOMB: ‘Deficits will cause debt to rise to unsupportable levels’…

    Below is the text from the Congressional Budget Office website (which has been inaccessible due to apparent inability of government servers to present data efficiently).  The document details the importance of lowering federal debt by cutting spending or by increasing federal revenues (or both).   Federal Debt and the Risk of a Fiscal CrisisOver the …

  • Government Borrowing

    One naïve idea concerning government borrowing is that the amount being borrowed by the government in a given year is approximately equal to its budget deficit for that year. However, those who commit to such an idea are ignoring an important part of the equation. Typically, past debts incurred by the government through borrowing become …

  • President Obama’s Proposed Budget Would Add More Than $9.7 Trillion to the National Debt

    When most people think that $12 trillion is a lot of money, we get this story: President Obama’s proposed budget would add more than $9.7 trillion to the national debt over the next decade, congressional budget analysts said Friday. Proposed tax cuts for the middle class account for nearly a third of that shortfall. The …

  • $107 Trillion

    In 2009 alone we had $107 trillion worth of unfunded liabilites, 10 times our national debt. Unfunded liabilities are the difference between the promised benefits of current and future generations and the amount of taxes and Medicare premiums collected. How long will the American people, especially the younger generations, allow blatent stealing of their money for …