CBO Predicts U.S. Debt Crisis If Deficits Are Not Controlled

Posted by admin / Under Economy Of Grenada

(CNSNews.com) – The Congressional Budget Office is warning that unless the federal government can control its appetite for deficit spending, the accumulated national debt could spark a fiscal crisis similar to those experienced by Greece and Ireland earlier this year.The non-partisan congressional accounting office – in a little-noticed July report – said the combination of a massive national debt and another fiscal downturn could spark the debt crisis.“Combined with an unfavorable long-term budget outlook, it would increase the probability of a fiscal crisis for the United States,” CBO said. “In such a crisis, investors become unwilling to finance all of...

Published on Friday 10th of September 2010 12:52:24 PM

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Congress has not passed a 2011 budget

Posted by admin / Under Economy Of Grenada

September 10, 2010 A little election reminder: Congress has not passed a 2011 budget Monte Kuligowski Byron York has a great piece out that highlights the awkward position of congressional Democrats who voted for ObamaCare. With the midterm elections fast approaching, the once-celebratory Democrats are now silent about their "historic" achievement. Healthcare "reform" was so urgent and important that no one had time to read its two thousand pages, much less have honest debate before C-SPAN cameras as Obama promised. Reading it alone would have taken "two days and two lawyers to find out what it means" and they simply...

Published on Friday 10th of September 2010 12:52:24 PM

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Obama says voters may blame him for economy (May???)

Posted by admin / Under Economy Of Grenada

WASHINGTON — President Barack Obama insisted Friday that the U.S. economy is showing improvement from the deepest recession in decades but conceded the "progress has been painfully slow." He said he understands that many voters in November's elections may blame the weak recovery on him. Facing a rising jobless rate, Obama told a White House news conference: "For all the progress we've made, we're not there yet. And that means people are frustrated and why people are angry." "Because I am president, and the Democrats have control of the House and Senate, it's understandable that people are saying, 'What have...

Published on Friday 10th of September 2010 12:52:24 PM

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Obama's Economic Team has failed, America's Economy Has A Structural Problem

Posted by admin / Under Economy Of Grenada

I gave President Barrack Obama six months to roll-out his doomed Keynesian policies, twelve months to discover they were flawed and eighteen months to realize that the solution to America’s problems must lie within a different economic framework. I had hoped by the end of twenty-four months to see new policies closer to an Austrian economic philosophy emerge. I was wrong. A STRUCTURAL PROBLEM 1) Trade Balance: Insufficient Export/Import Ratio 2) Creative Destruction: Slowing Innovation Rate It can’t be any clearer, the US has a structural problem. The administration can not possibly fail to realize this. My sense is they...

Published on Friday 10th of September 2010 12:52:24 PM

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Green Jobs in Obama Stimulus bombs economically

Posted by admin / Under Economy Of Grenada

There is a good reason that Obama no longer touts his "Green Jobs" and "Green Energy" programs. The potential for green jobs to increase under the Obama/Pelosi/Reid Stimulus program continues to turn a deeper color of brown every day.

Published on Friday 10th of September 2010 12:52:24 PM

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Obama says voters may blame him for economy

Posted by admin / Under Economy Of Grenada

Associated Press Writers – 7 mins ago WASHINGTON – President Barack Obama insisted Friday that the U.S. economy is digging itself out of the deepest recession in decades but conceded that "progress has been painfully slow" and many voters in November's elections may blame him. Facing a rising jobless rate, Obama told a White House news conference: "For all the progress we've made, we're not there yet. And that means people are frustrated and why people are angry." "Because I am president, and the Democrats have control of the House and Senate, it's understandable that people are saying, 'What have...

Published on Friday 10th of September 2010 12:52:24 PM

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41 Obama White House aides owe the IRS $831,000 in back taxes -- and they're not alone

Posted by admin / Under Economy Of Grenada

Over the years a lot of suspicion has built up across the country about Washington and its population of opportunistic transients coming to see themselves as a special kind of person, somehow above average working Americans who don't work down in that former swamp. Well, finally, an end to all those undocumented doubts. Thanks to some diligent digging by the Washington Post, those suspicions can at last be put to rest. They're correct. Accurate. Dead-on. Laser-guided. On target. Bingo-bango. As clear as it's always seemed to those Americans who don't feel special entitlements and do meet their government obligations. We...

Published on Friday 10th of September 2010 12:52:24 PM

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FCC Plotting Subsidies to Pick Winners and Losers (Obamacare Now Virtual Failure)

Posted by admin / Under Economy Of Grenada

The Federal Communication Commission’s multi-billion dollar Universal Service Fund (USF) has a rocky history of waste and abuse. Yet, a new proposal by the Commission would make it even worse, directing up to $400 million in universal service support to subsidies for just two network providers. And, yes, their names are literally written in the FCC’s proposal. The newly outlined “health infrastructure program” is intended to help rural health care providers to connect to broadband networks. The FCC’s plan is to subsidize up to 85% of the cost for health care organizations to connect to broadband networks, but only if...

Published on Friday 10th of September 2010 12:52:24 PM

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Dutch history student finds world's oldest share

Posted by admin / Under Economy Of Grenada

AMSTERDAM (Reuters) - A Dutch history student has unearthed the world's oldest share, dating back to 1606 and issued by the sea trading firm Dutch East India Company. Locked away in forgotten city archives, the share was made out to Pieter Harmensz, a male resident of the Dutch city Enkhuizen who served as an assistant to the city's mayors. After his death in 1638, Harmensz left the share to his widow and their daughter Ada and the document eventually ended up in Enkhuizen archives, kept in the northwestern city Hoorn. As the Netherlands' largest trading company in the 17th and...

Published on Friday 10th of September 2010 12:52:24 PM

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Obama Is Not Telling The Truth

Posted by admin / Under Economy Of Grenada

Obama is increasingly resembling the errant husband, who, when caught in bed with another woman by his wife blandly asserts, "What woman? Who are you going to believe - me or the evidence of your own eyes?" Obama is asking Americans to ignore the evidence of their own eyes and believe him. After all, he is the President of the United States, which implies honor, integrity, and character. Or used to. Calling the president a liar is a serious charge. But either Obama is lying to America or he is seriously misinformed, which is even scarier. With a straight face,...

Published on Friday 10th of September 2010 12:52:24 PM

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Obama to take GOP to task on economy, tax cuts (D-lusional)

Posted by admin / Under Economy Of Grenada

WASHINGTON – Striving to gain the upper hand on a crucial political issue, President Barack Obama is faulting Republicans for refusing to help him turn around the sluggish economy or support some proposed new tax breaks for businesses that the GOP has backed in the past.

Published on Friday 10th of September 2010 12:52:24 PM

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