The National Debt Crisis

Cash for Clunkers is officially coming to an end at 7pm on Monday, August 24, 2009.  By some accounts, this has been a wildly popular and successful government program which has helped to put our economy on the road to recovery.  Others argue that Cash for Clunkers is just another example of wasteful government spending, and that it will provide little toward the goal of long-term economic recovery.  Regardless of how you feel about the Cash for Clunkers program, here are some observations to be made and lessons to be learned. Read the rest of this entry »

With a soaring budget deficit and national debt, top Obama administration officials are now openly talking about the possible need for higher taxes.  When specifically asked about higher taxes, both Treasury Secretary Timothy Geithner and National Economic Council Director Larry Summers refused to rule them out.

When Geithner was asked about the need for higher taxes, he replied, “If we want an economy that’s going to Read the rest of this entry »

When Barack Obama, Nancy Pelosi and Harry Reid rammed through the $787 billion “economic stimulus” package earlier this year, sensible Americans who fought the bill decried the wasteful spending packed into the bill.  Not only was the bill a budget buster in every sense of the term, but many of the items in the bill had absolutely nothing to do with economic stimulus and everything to do with throwing money at pet liberal projects and causes.

One of the questionable beneficiaries of the economic stimulus was the National Endowment for the Arts Read the rest of this entry »