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Entries in Public Debt (144)

Saturday
Jan122013

Josiah Bartlett Center - The Fiscal Cliff, Trains, and Trillion Dollar Coins

Weekly Update from the
Josiah Bartlett Center


Keeping you up to date on our latest research
on the issues impacting New Hampshire


The music for the Washington fiscal cliff debate ought to be that written by Sergei Prokofiev for his “Tale of the Buffoon who Outwits Seven Other Buffoons.” Hard to believe he hadn’t of the fiscal cliff when he wrote it... Click here to keep reading.


The Trillion Dollar Coin and the Debt Limit

Would it be Possible and is it Legal?

With the US Treasury rapidly closing in on another debt limit ceiling, the idea of minting trillion dollar platinum coins to get around Congressional approval of a debt limit hike has gained some steam in the pundit world and with the public at large. It has even spawned the twitter hashtag #mintthecoin and a White House petition in support of the proposal... Click here to keep reading

Rail Back on Track in NH?

Would Cost $270 Million

Wednesday’s approval by the Capital Budget Overview Committee to fund a transportation study of the Capitol Corridor has revived hopes of commuter rail in New Hampshire. The Corridor project, if completed in its entirety, would see passenger rail service run from Concord through Manchester and Nashua, continuing south into North Station in Boston.

The project in terms of costs can divided roughly into four segments, totaling roughly $270 million from various sources... Click here to keep reading.

Takeaways from the December Unemployment Report


November Rate Revised Upward, Job Creation Treading Water

Last week the Bureau of Labor Statistics released its monthly jobs report for December, which showed that the unemployment rate remained unchanged at 7.8%. The BLS also revised the November rate upwards to 7.8% from 7.7%. Establishment Survey (i.e. employer) data showed that roughly 155,000 jobs were created. Click here to keep reading.

Wednesday
Jan092013

ALG's Daily Grind - Get ready for Obamabonds 

Jan. 9, 2013

Get ready for Obamabonds

Pelosi: "[I]f I were president, I would use the 14th Amendment, which says that the United States will always be paying [the debt] . I would just go do it, right."

Cartoon: Al Gorzeera

A convenient hypocrisy.

The Left's Target of the Week

Hobby Lobby was recently denied an exemption from providing, through their insurance plan, morning-after and week-after birth control pills for their employees by U.S. District Court Judge Joe Heaton.

Krieger: Inflation Since the American Revolution

"Nothing like livin' the debt slave dream!"

Tuesday
Jan082013

ALG's Daily Grind - Republicans have to be All-In on Cutting Deficit

Jan. 7, 2013

Republicans have to be All-In on Cutting Deficit

While Republican face a classic damned if you do and damned if you don't scenario on the fiscal cliff, their only exit strategy now is to behave like the limited government elected officials who they promised voters they were going to be

Obama's Blunders: The Housing Market

OK, so we're still waiting for housing to recover from the late 2000s collapse. That's what got us into the mess, will it ever get us out?

The EPA's bad sci-fi movie

Virginia Attorney General Ken Cuccinelli successfully beats back an EPA attempt to regulate water as a "pollutant" under the terms of the Clean Water Act.

Thrush and Epstein: Obama's debt problem

"The staggering national debt - up about 60 percent from the $10 trillion Obama inherited when he took office in January 2009 - is the single biggest blemish on Obama's record, even if the rapid descent into red began under President George W. Bush."

Wednesday
Jan022013

ALG - Fiscal Heroes and Zeroes

Jan. 2, 2013, Fairfax, VA—Americans for Limited Government, a non-partisan group dedicated to limiting the size and scope of government at all levels, blasted members of Congress who voted in favor of the tax increase measure that passed both the Senate and House of Representatives on New Year's Day.

Bill Wilson, president of the group denounced the law saying, "This so-called 'deal' is typical Washington, D.C., laden with pork including a subsidy for Obama's Hollywood buddies and even NASCAR, while increasing taxes on every working American. Incredibly the law will be classified as a tax cut because it passed after the Bush tax cuts expired, so in D.C. doublespeak, politicians will claim to have cut taxes when everyone's taxes are actually going up."

An initial analysis of the legislation utilizing estimates from the Joint Committee on Taxation conducted by ALG showed that while the tax increases on those making more than $400,000 a year will generate approximately $30 billion in revenues a year, the cost of servicing the projected increased federal debt of $1.2 trillion will actually eat away about 88 cents of every new dollar raised.

"By avoiding actually dealing with Washington's spending addiction, they have raised taxes to do little more than pay the increased interest on the debt over the next year. Meanwhile, the head-in-the-sand types on Capitol Hill will be clamoring to spend this 'new money' on their favored special interests. We are truly through the looking glass."

View online here: http://getliberty.org/fiscal-heroes-and-zeroes/

Attachments:

"Landing on the fiscal rocks below," by ALG senior editor Robert Romano, Jan. 2, 2013 at http://netrightdaily.com/2013/01/landing-on-the-fiscal-rocks-below/

Senate roll call on H.R. 8 at http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=112&session=2&vote=00251

House roll call on H.R. 8 at http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=112&session=2&vote=00251

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Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.

Wednesday
Jan022013

US Rep. Frank Guinta Statement on Fiscal Cliff 

REP. FRANK GUINTA STATEMENT ON LAST EVENING’S VOTE PERTAINING TO THE FISCAL CLIFF LEGISLATION

(Washington—January 2, 2013)  Rep. Frank Guinta (NH-01) issued the following statement regarding his vote on H.R. 8:

"From mayor of our state's largest city to Representative of New Hampshire's 1st District, protecting Granite State taxpayers has always been my top priority. We simply cannot afford to continue to ignore the need to address out-of-control government spending and deal with our insurmountable debt and deficits.

"Last evening, I could not support a bill that failed to include any meaningful spending cuts, increases our debt by trillions, and does nothing to promote pro-growth economic principles. Granite Staters deserved better."