The Congressional Budget Office (CBO) reported in early May that for the month of April 2015 the Federal government ran a budget surplus, taking in more in taxes than it laid out in expenditures. Don’t be fooled by one month, especially when it was a month when people filed and pay their taxes. Government deficits and growing debt are on the horizon for as far as the human eye can predict.
Not only is Social Security in the worst shape it has ever been in, a recent Congressional Budget Office (CBO) report reveals the problem has grown significantly worse under the Obama administration.
Everyone knows government sucks, but it will at least suck a little less with these cuts to the vacuum-based erection program. It’s just too bad they’re blowing all the savings on a new spending splurge.
It’s June, a month famed for marriages, but it is likely to be remembered for the high rate of teen unemployment which has been soaring for a long time. By February, the national unemployment rate for youth, age 16 to 19, had reached 20.7%. By November 2013 it was three times higher than the national average of 6.6% according to the Bureau of Labor Statistics.
In 2013 the price of gold bullion lost 28 percent and closed near its low for the year. It was the first annual decline since 2000 and the worst since 1981. Gold ETFs experienced record redemptions, shrinking the funds 33 percent by year end, but they were the exception. Marcus Grubb, Managing Director of the World Gold Council, reported, “2013 has been a strong year for gold demand across sectors and geographies, with the exception of western ETF markets.” While investors were leaving ETFs, demand for gold jewelry, bars and coins was increasing, as were purchases by central banks. Globally, consumer demand increased 17 percent for gold jewelry and 28 percent for bars and coins.
Minimum wage has become a contentious political issue, even though it has nothing to do with a living wage. Workers are paid for the worth of the job they are paid to do. Nevertheless, Democrats plan to tap into what they perceive as income inequality by using minimum wage as a plank in their populist economic platform heading into the November elections.
Heartland Senior Fellow Benjamin Domenech was a guest Wednesday night on “All In with Chris Hayes” on MSNBC. Ben is rare among people who go on TV to talk: He actually endeavors to answer the questions he’s asked.
The full bill for Obama’s failed economic policies has yet to arrive. But no such explosion of debt has ever escaped a day of reckoning, and no such monetary surge has ever had a happy ending.
The competing budgets released last week by House Budget Committee Chairman Paul Ryan (R-WI) and Senate Budget Committee Chairwoman Patty Murray (D-WA) definitively define the growing differences between the two[…]
President Obama told America the morning of February 19 that if the sequester goes through on March 1: “It will eviscerate job-creating investments in education and energy and medical research….[…]
President Obama tells the nation that Congress must increase the debt limit because they “should pay the bills that they have already racked up.” Let me translate that into household[…]