Donald R. McClarey

I Pledge Allegiance to Octavia

Since the below Onion video came out the national debt has doubled to 19.8 trillion dollars.  We are on target to have annual trillion dollar budget deficits for as far as the eye can see, and this is assuming no

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The Actual Fiscal Cliff

  Well the so-called Fiscal Cliff was avoided through the mechanism that I predicted back in November:   What will happen I suspect is that the fiscal cliff will be avoided through taxes increasing on “the rich”, that will produce

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Sixteen Trillion Reasons to Vote Against Obama

The national debt is now north of sixteen trillion dollars,  5.4 trillion of the debt having been incurred under President Obama.  Go here to view a real time debt clock.  Our gross national product for this year is estimated to

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Alexander Hamilton and the National Debt

This country was blessed at its founding to have on the scene a member of the Founding Fathers, Alexander Hamilton, who was a financial genius.  His idea to have the Federal government adopt the Revolutionary War debts of the states

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Government and Economic Health

Another fine econ 101 video from the Center for Freedom and Prosperity.  The day after we learned that the Federal debt now equals the annual size of the US economy seems like an appropriate time to watch the above video. 

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Concord Coalition: 14.4 Trillion Dollar Deficit

In this earlier post I reported that the Obama administration is predicting a 9 trillion dollar deficit over the next ten years.  Now, the non-partisan Concord Coalition is predicting here a 14. 4 trillion dollar deficit over the next 10

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Remember that 7 trillion deficit? Make that 9 trillion.

As Obama goes on vacation, the Administration saw fit late Friday afternoon to release the news that the projected deficit was going up over the next ten years from 7 trillion to 9 trillion.  No doubt the Congressional Budget Office

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"Federal Budget on an Unsustainable Path"

As regular readers of this blog know, I have been sounding the tocsin regarding government spending since the Bailout Swindle of 2008.  Here is one of my posts in which I list other posts I have written on the subject.

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$668,621

Hattip to Daniel Indiviglio at the Atlantic.  USA Today is reporting that the share of the Federal debt for each American household is $546, 668 with private average debt of 121, 953.  Of course these numbers do not include the average

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Debt Sun

  Hattip to Instapundit.  The Heritage Foundation supplied the above graphic which compares Obama budget “cuts” of $100,000,000.00 to the appropriations bill for fiscal 2009 of $410,000,000,000.00, the Bankrupt the Nation Act of 2009, sometimes erronously called the “stimulus” bill, which

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Red Ink

A look at the federal budget since 2000, with projections, for what little they are worth, by the White House and the Congressional Budget Office to 2019.  By CBO estimates last week, the budget deficits between now and 2019 would

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Of Tea and Taxes

In politics, as in physics, an action causes a reaction.  With the election of President Obama and strong Democrat majorities in both houses of Congress, the stage is set for a radical increase in the size, power and scope of government

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Don't Make It Hurt

So here’s an argument against irreducible complexity.  Take a family that works hard for a living, saves a large chunk of its earnings for old age, emergencies, sending kids through college, and so on.  Then create (through some combination of

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Democrat Economy

The  Bankrupt the Nation Act of 2009, often erroneously called the “Stimulus” bill, fittingly passed on Friday the 13th.

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Does It Really Stimulate?

It seems a bipartisan effort to ensure that there is some sort of stimulus bill, and only a few politicians think there should be no package at all.  Many economists have warned in the past, and continue to do so

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Obama and the Stimulus Package

Has anyone ever wondered if it is possible that one can land in a financial crisis when one has a steady income, no debts, and a large reserve of money in case of emergencies?  Certainly, I suppose, if something devastating

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Uncle Sam Borrower

A look at the credit score of the US government if Uncle Sam had to fill out a credit app.  Hattip to Instapundit. Update:  Powerline has a depressing look at the projected budget deficit for this year as a percentage

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