I just hope “they” don’t make the situation worse than it already is. ======== Barack Obama was in full-scold mode Friday night, summoning Congressional leaders to the White House to “explain to me how it is that we are going to avoid default.” It’s a terrific question, albeit one the President refuses to answer. He remains far more interested in maneuvering to... Read more
Archive for the ‘Obama’ Category
Obama Playing Russian Roulette? – R Benko
July 26 | Posted by mrossol | Economics, Obama, Party Politics, US DebtRight on the money… =========== Ralph Benko, Forbes-commentary: President Barack Obama is on the verge of terminally discrediting himself by playing some very bad games very badly. The means of avoiding default are crystal clear. Obama is not just ignoring them, but evading them. He is guilty of playing Russian Roulette with America’s creditworthiness. His administration is playing Three Card Monte with... Read more
AttaBoyBoehner – Joel Rossol
July 26 | Posted by mrossol | Economics, Obama, The Left, US DebtNot a bad perspective for a young man [of whom I’m proud]. (emphasis, his) === If Obama REALLY THINKS we are going to stumble into disaster should the debt limit not be rasied… then it seems to me that as a leader… the impetus is on him given he is largely responsible for getting us into this mess. But he cares too... Read more
Damage Done
July 26 | Posted by mrossol | Debt, Economics, Obama, US DebtThoughts of John Melloy, Executive Producer, Fast Money: (7/25/11) In the eyes of China, the biggest foreign holder of Treasuries, the damage to this nation’s reputation as steward of the world’s safest asset may already be done, even if a last-minute agreement to raise the debt ceiling is hatched. The partisan infighting alone that’s brought the decision to the brink of... Read more
How Spending Cuts—Not Higher Taxes—Saved Canada
July 23 | Posted by mrossol | American Thought, Debt, Economics, Liberal Press, ObamaWhen Jean Chretien became prime minister in 1993, Canada faced a fiscal and economic breakdown. The government’s share of the economy had climbed to 53% in 1992, from 28% in 1960. Deficits had tripled as a percentage of gross domestic product over the prior two decades. Government debt was nearly 70% of GDP and growing rapidly. Interest payments on the... Read more
Get Ready for a 70% Marginal Tax Rate
July 19 | Posted by mrossol | Debt, Economics, ObamaBasis Econ 101, or mayby 201… ======== By MICHAEL J. BOSKIN President Obama has been using the debt-ceiling debate and bipartisan calls for deficit reduction to demand higher taxes. With unemployment stuck at 9.2% and a vigorous economic “recovery” appearing more and more elusive, his timing couldn’t be worse. Two problems arise when marginal tax rates are raised. First, as college students learn in... Read more
