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Following in the footsteps of his Republican predecessor, President Obama has announced a new budget proposal which will — you guessed it! — sink the American government even further into debt. The House Republican Conference has provided some discouraging stats on the new budget: President Obama’s FY 2013 Budget Proposal (In billions of dollars) Year …
Following the failure of the Super Committee to reach an agreement, a total of $1.2 will be cut across the board (well, almost — congressional pensions, for instance will remain untouched) over the next decade. This “works out to roughly $54.5 billion per year apiece for security functions and nonsecurity functions,” which sounds like a …
Paul Krugman is scared. He’s scared that the federal government will stop spending trillions of dollars that it doesn’t have and cause a depression. Leaders from around the world have been tightening their belts and have been wondering why Obama isn’t doing the same. Now, Obama says he’s serious about the debt. President Obama on …
The Washington Post reports: President Obama urged reluctant lawmakers Saturday to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid “massive layoffs of teachers, police and firefighters” and to support the still-fragile economic recovery. In summary, the goverment needs more private money to create more …
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