Tag Archives: U.S Budget

U.S.Treasury Announces 2011 Budget Deficit- 2nd largest in History

The U.S.  Department of the Treasury formally announced this week that the United States budget deficit for the year 2011 was the second largest in U.S. history at $1.299 trillion dollars. The first place award for the irresponsible-spending-and pushing-America towards insolvency-award still belongs to…Barack Obama‘s first year in office of 2009. ($1.412 trillion was borrowed that… Read More »

S&P Deems America a Credit Risk, Hoyer Pushes Pelosi to the Side

  From Standard and Poor’s official website: Because the U.S. has, relative to its ‘AAA’ peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable. (emphasis mine)… Read More »

Herman Cain Responds to Obama Budget

Stockbridge, GA – Potential Republican presidential candidate and longtime corporate executive Herman Cain responded to President Obama’s speech at 1:45 p.m. Wednesday, April 13, 2011 regarding his budget proposal, saying: President Obama’s address proved yet again that he values ideology over basic economics and leadership. His budget employs his typical class warfare tactics, insisting on… Read More »

Obama’s Budget Deficit Reduction Speech – Full Text and Video

Obama explained his vision for the road to deficit reductions on Wednesday. In a speech that was light on details and heavy on the campaign rhetoric, he reminded Americans of the things most critical to his “progressive vision”. Obama claims that his plan will cut $4 Trillion from budget deficits over 12 years. Where would… Read More »

Mafia-Style Stealth Taxation Without Representation: Meet the VMT

   CBO issues report saying that a new Vehicle Mileage Tax, (VMT) is needed to increase funding for our transportation infastructure to offset a shortage of highway maintenance funding.        The picture to the left reminds me of a snapshot taken during the shooting of the Godfather movie, where all the made men are getting… Read More »

CBO to Obama’s Budget: “You Lie!”

That infamous phrase once uttered by Joe Wilson still echoes through the halls of Congress and now.. the Congressional Budget Office. The CBO Director’s blog included a post by Douglas Elmendorf that detailed some startling mis-truths – untruths for the Orwell fans – or is it minus minus truths?? The synopsis of the CBO’s analysis… Read More »

Budgetary Boondoggle: Round 6

         In an article posted here at CDN on Feb. 14th titled, “Upcoming Budget: Nowhere to Run*,  I explained how I could see that our current Congress would not be able to even come close to passing a responsible budget for 2011 fiscal year. Looking at today’s news headlines, this budget boondoggle is following along… Read More »