7

Federal Debt to be 90% of US' GDP by 2020

http://www.washingtontimes.com

President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.

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Renniks's picture
Created by Renniks 4 years 35 weeks ago – Made popular 4 years 34 weeks ago
Category: Economics   Tags:
15

There Is No Keynesian Miracle

http://www.forbes.com

Article in Forbes bashes Keynesianism for the fraud that it is: During 2009 there was a lot of smug talk among academic and political liberals of Keynesianism enjoying a triumphant revival. But in the real world of jobs, wages and production--as opposed to the imaginary one of the chattering classes--the evidence shows that John Keynes' notion of being able to spend your way out of recession has not worked this time, if it ever did. It's important to note that ordinary voters are more sharply aware of this idea's failure than are the Western governments that have put their trust in Keynes.

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RottingNation's picture
Created by RottingNation 4 years 35 weeks ago – Made popular 4 years 35 weeks ago
Category: Economics   Tags:
34

the US has more government workers than goods-producing work

http://hotair.com

This comes from Business Insider, and it provides a natural follow-up to my post from last week as to why public-sector workers are more optimistic than private-sector employees. For the first time, the US has more government workers than goods-producing workers:

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garrettjreed's picture
Created by garrettjreed 4 years 46 weeks ago – Made popular 4 years 46 weeks ago
Category: Economics   Tags:
9

The Obama administration $75bn program to protect homeowners-FAILED

http://www.nytimes.com

The Obama administration’s $75 billion program to protect homeowners from foreclosure has been widely pronounced a disappointment, and some economists and real estate experts now contend it has done more harm than good.

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getonid's picture
Created by getonid 4 years 47 weeks ago – Made popular 4 years 47 weeks ago
Category: Economics   Tags:
6

Obama's wars PLUS socialism = 3x bigger deficit

http://www.economist.com

"Bad as the deficit was under Mr Bush, it will more than triple this year, from $459 billion in 2008 to $1.845 trillion
[...]
Meanwhile, the long-term fiscal outlook grows ever grimmer. Americans are getting older. The government’s unfunded obligations to give them pensions and health care are equivalent to a debt of $483,000 for every household."

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d_goddard's picture
Created by d_goddard 5 years 24 weeks ago – Made popular 4 years 47 weeks ago
Category: Economics   Tags:

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