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The Latest News about 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 year to pay for our ...

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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)      Of note there, is ...

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A Common Sense Approach To The National Debt

It is with great pleasure that I dedicate this article to my Dad. I ask you to indulge me for just a moment as I give you some “behind-the-scene” information before I address the title issue of this article, the National Debt. For many years, my Dad and I had a strained relationship. Over the years we have determined that ...

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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 taxing America’s job creators into ...

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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 that leave the total debt ...

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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 lays out some staggering deficit ...

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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 exactly as I stated it ...

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