Ms. Yellen indicated that she would continue the Fed’s “quantitative easing” (QE) polices, despite QE’s failure to improve the economy. Coincidentally, two days before the Yellen hearings, Andrew Huszar, an ex-Fed official, publicly apologized
The Federal Reserve is creating hundreds of billions of dollars out of thin air and using that money to buy U.S. government debt and mortgage-backed securities and take them out of circulation.
The nonpartisan Congressional Budget Office is acting in a bipartisan way to cover up the biggest single threat to the bipartisan political alliance that is stripping America of its wealth: the United States Congress.
Illinois' most powerful legislative leader told members to be prepared to return to the state capitol that could signal an impending vote on pension reform after weeks of closed-door meetings, spokespersons for legislative leaders said.
A resort town in California warned on Tuesday that it will run out of money by March due to burdensome salary and pension costs and could join other U.S. cities that have recently filed for bankruptcy protection.
Dr Laurence Kotlikoff , professor of economics at Boston University and a research associate at the National Bureau of Economic Research, was recently interviewed by the Financial Sense Newshour about the true state of fiscal affairs in this countr
There was a lot of fuss recently about something they call the “debt ceiling.” Supposedly, it's a kind of limit to what the FedGov can borrow. It's all a load of horsefeathers because whenever they find the limit inconvenient, they will raise it
Senator Charles Schumer (D-NY) sent a letter to Attorney General Eric Holder to ask the Department of Justice to fund GPS tracking devices for autistic children--even though there are private companies that already offer this service.
North Carolina has decided to cut welfare benefits as a result of lack of federal funding during the partial government shutdown.
How did Ireland get into this immense cavern of debt? Irish leaders decided that it was in the best interest of the country to bail out its failing banking system and guaranteed all of their banks deposits, loans and bond liabilities.
Debt Limit Parody (Instant Classic)
Each US taxpayer now has a federal-debt liability of $1.1 million, and rising. Remember when President Obama boasts that the federal deficit—the shortfall between annual revenues and spending—is declining. Of course, the primary reason
In 2015 Oregon is set to launch a 5,000 volunteer pilot program that will tax drivers 1.5 cents per mile driven.
It has been a very interesting week as the Government shutdown/debt ceiling debate debacle moves into the background.
Education Department has spent over $100K in handguns and shotguns
Lesson # 1: * U.S. Tax revenue: $ 2,170,000,000,000.00 * Fed budget: $ 3,820,000,000,000.00 * New debt: $ 1,650,000,000,000.00 * National debt: $ 16,271,000,000,000.00 * Recent budget cuts: $ 38,500,000,000.00
My mom called me the other day to ask whether I thought the “government shutdown” would impact some state program or other.
Did you know that the U.S. national debt has increased by more than a trillion dollars in just over 12 months?
Aldermen on Tuesday got a sneak peek into how Mayor Rahm Emanuel plans to close a $340 million deficit in his 2014 budget.
The constitutions of some states, including Michigan, explicitly bar the cutting of public pensions. But what about extra payments promised to Detroit’s workers and retirees?
Is raising the debt ceiling just another excuse for the government to tax you?
Expert: ‘There’s very little bang for all this increased buck’
The budget measure that ended the partial government shutdown allows for a 1 percent raise for federal employees in January in addition to providing back pay for those furloughed, according to two Democratic Maryland senators.
It may not happen this month, or even this year, but food stamp riots are coming to America.
Reflecting on the collapse of the USD, the surge in gold, the Chinese ratings agency downgrade, and the groundhog-day-like world in which the US government (and markets) live, DoubleLine's Jeff Gundlach warns that "America's credibility is slowly ero
The following items comprise what is defined as the key Non-Defense Discretionary Spending (NDDS) components of government outlays:
The legislation released by the Senate late Wednesday to reopen the government contains several surprises.
.... allows Congress to disapprove of the debt ceiling increase, which means lawmakers will formally vote on whether to reject a debt ceiling increase until Feb. 7. Obama can veto that legislation if it passes. If Congress fails override the veto,
While the evil Republicans and the evil Democrats were voting together on the House Floor to add the final nail to the coffin of the Republic a House stenographer rushed the dais and loudly expressed her view of the whole tawdry affair:
The U.S. Congress on Wednesday approved an 11th-hour deal to end a partial government shutdown and pull the world's biggest economy back from the brink of a historic debt default that could have threatened financial calamity.