U.S. Treasury now openly 'cooking the books'
• naturalnews.comOn the surface, it appears as though the federal government is finally making progress on the national debt.
Contents Pages by Subject
Government Debt & Financing
The Military Spending Cut Scare: The fearmongering is on.
• David Swanson, OENThe Pentagon's budget grew each year Bush was president and the first 3 years that Obama was president. If the mandated cuts go through, the Pentagon will still be spending next year more than it did in 2006 at the height of the Iraq war.
In A Paper System, All Assets Are Backed by the Treasury Bond
• http://www.zerohedge.com, Tyler DurdenIn a gold-based monetary system, every asset is ultimately backed by gold.
Must see video: Debt Bomb, The Musical Rated PG-13
• The Political CommentatorExtremely entertaining video that puts the global financial crisis in perspective through music. The name of the song is Debt Bomb and it is supposed to be taking place at a State of the Union Address with the president accompanied by two beautiful w
Pelosi: Obama Should Raise Debt Limit Directly, Go Around Congress
• http://govtslaves.info, Brian BeutlerHouse Minority Leader Nancy Pelosi has changed her public position on an issue that divided Democrats during the fight over raising the debt ceiling last summer.
Senators Prepare to Battle Against Military Spending Cuts
• http://news.antiwar.com, by Jason DitzMcCain, Graham Hint at Tax Hikes as Alternative
STIGLITZ: The U.S. Government Needs To Spend, Spend, Spend Now
• http://www.businessinsider.com,Renowned economist Joseph Stiglitz thinks the best way to reduce national debt is to stimulate the economy. In other words, the government needs to spend, spend, spend.
The US Government's Single Largest Asset Is STUDENT LOANS
• http://www.businessinsider.com, Doug ShortThe largest asset on Uncle Sam's balance sheet is not U.S. Official Reserve Assets, nor Total Mortgages, nor Taxes Receivable.
Drastic cuts planned as California state government announces huge deficit increase
• http://wsws.org, By David BrownThis weekend, Democratic California Governor Jerry Brown announced that the predicted state budget deficit has ballooned from $9.2 billion to $16 billion, in the space of just four months.
Ron Paul Statement on House Passage of Paul Ryan Budget
• http://www.marketwatch.com,“The Ryan budget reduces the federal government’s debt burden by trillions of dollars yet it does so in decades and not immediately, as our severe debt crisis warrants.”
Ridiculous Ways States Are Trying to Fix Their Broken Budgets
• http://motherjones.com, By Tim MurphyFaced with empty coffers, desperate governors and state lawmakers will try just about anything to improve their cash flow.
CBO: Exploding debt under Obama policies
• http://www.politico.com,The Congressional Budget Office said Friday that President Barack Obama’s tax and spending policies will yield $6.4 trillion in deficits over the next decade, more than double the shortfall in CBO’s own fiscal baseline — even after taking credit for
Eminent domain: Being a bondholder ain't what it used to be!
• The Political CommentatorPity the poor bondholder who faces the wrath of government! Senior debt, bond indentures and full faith and credit are investing terms that don't seem to mean what they used to mean! For those bond buyers who may choose to go for the added sec
Chart: 'America’s Per Capita Government Debt Worse Than Greece'
• By DANIEL HALPERThe office of Senator Jeff Sessions, ranking member on the Senate Budget Committee, sends along this chart, showing that 'America’s Per Capita Government Debt Worse Than Greece,' as well as Ireland, Italy, France, Portugal, and Spain:
Report: Debt will swell under top GOP hopefuls’ tax plans [Except Ron Paul's]
• Lori Montgomery, Washington Post & BloombergThe national debt is likely to balloon under tax policies championed by three of the four major Republican candidates for president, according to an independent analysis of tax and spending proposals so far offered by the candidates.
Obama unveils big spending election-year budget
• www.reuters.comPresident Barack Obama called on Monday for aggressive spending to boost growth and for higher taxes on the rich, laying out an election-year vision for America in a budget that was criticized sharply by Republicans for failing to curb the deficit.
Figures on government spending and debt
• www.finance.yahoo.comThe government's fiscal year runs Oct. 1 through Sept. 30.
Getting Nowhere, Very Fast
• www.lewrockwell.com/Thomas SowellCalifornia has a huge state debt and Washington has a huge national debt. But that does not discourage either Governor Jerry Brown or President Barack Obama from wanting to launch a very costly high-speed rail system.
Once Greek debt is dealt with, which of the PIIGS will be next?
• The Political CommentatorIn the not so distant future there will be a resolution of some kind in the Greece government debt crisis! As the EU leaders meet in Brussels for the first summit of 2012, the Greece debt restructuring is apparently reaching an endgame as privat
The Public Pension Time Bomb!
• The Political CommentatorThe growing crisis of public pension fund liabilities! Pension fund liabilities for states and municipalities is an extremely apropos topic on the day of the State of the Union Address (#SOTU) when President Obama will be doing one of the things h
Obama asks Congress for debt limit hike
• www.washingtonpost.comPresident Obama formally notified Congress on Thursday of his intent to raise the nation’s debt ceiling by $1.2 trillion, two weeks after he had postponed the request to give lawmakers more time to consider the action.
Army slashing 8,700 jobs as budget cuts begin
• www.washingtonpost.comWith deeper budget cuts looming, the Pentagon is starting to cut back by trimming the Defense Department’s civilian workforce.
The blue social model is collapsing. But the red state model is (also) broken
• Michael Lind, SalonThe blue social model is collapsing. So proclaims Walter Russell Mead. . .In different ways, the rural and suburban red state model is as unsustainable as that of the liberal enclaves on the coasts.
Budget Failure Further Evidence of Decline of Representative Democracy
• Paul LevinsonThe bipartisan bozos in Washington - the super-committee tasked this summer with working out a new budget by the day before Thanksgiving - are reported to be on the verge of announcing failure to reach agreement on a new budget.
Congressional joint committee fails to agree on budget cuts. Bring on the sequestration!
• Jan C. Ting, NewsworksThe sequestration of $500 billion of military funding over the next 10 years would force the military-industrial complex of the U.S. into a much needed and long-overdue prioritization of military spending, and the elimination of that which is least n
Global 10-year bond yields: Read'em and weep!
• The Political CommentatorOr better yet, read'em and try not to lose sleep! The world knows only too well the crisis that is currently consuming Greece, the rest of the EU and by extension the globe. A huge two-day drop in the global markets is a testament to that fact
Gang of Twelve Becomes Normal Intra-Leadership Negotiation Process
• David Dayen , FDLI love this perception that the trigger must be avoided at all costs, or the evil across-the-board cut will be initiated. Of course, the cuts don’t begin until January 2013, giving Congress ample time to change them or just flat-out nullify them. Sta
Ron Paul proposes saving $1T by scrapping five federal departments
• Stephanie Condon, CBS NewsRepublican presidential candidate Ron Paul on Monday unveiled a plan to cut $1 trillion from the federal budget within one year by eliminating a handful of federal departments, including the Energy and Education departments.
Blame Government, Not Greed – and, Please, Ignore Central Banking
• The Daily BellIt is central banking's money creation and low interest rates that created the fuel for this last catastrophic bust that has – evidently and obviously – virtually ended the dollar reserve system.
Government records $1.3 trillion budget deficit again
• CBS NewsA government report released on Friday predicts that the federal budget hit a near-record $1.3 trillion in the just-completed fiscal year. The figure matches last year's deficit tally but shows slight improvement over a record set two years ago.
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