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Posts Tagged ‘budget deficit’

Paul Ryan (R-WI): A Choice of Two Futures

Posted by Larry Doyle on February 15th, 2012 10:17 AM |

Markets manipulated by the presence of massive infusions of liquidity from central bankers may give the appearance of calm, smooth sailing but under the surface an explosion of epic proportions continues to build.

What is fueling that volcanic eruption?

Chronic deficit spending.

With our fiscal deficit having grown by trillions of dollars over the last few years, make no mistake the withdrawal pains and devastation from this out of control spending WILL be extraordinary. Not might be. WILL be. Borrowing from future generations may be a political art form in Washington but it is truly nothing more than a failure of governance.  (more…)

Skin in the Game

Posted by Larry Doyle on September 15th, 2010 2:16 PM |

I will never forget the mental and emotional sensation of purchasing my first real asset. That holding, a co-operative apartment in Brooklyn, New York was where I began my married life and started my family. I am not writing this to reminisce about life back in the mid-’80s, but rather because those memories came back to me as I read an article in this morning’s Wall Street Journal entitled, Obstacle to Deficit Cutting: A Nation on Entitlements:

Efforts to tame America’s ballooning budget deficit could soon confront a daunting reality: Nearly half of all Americans live in a household in which someone receives government benefits, more than at any time in history.

I have zero problem with people receiving benefits. To the extent that people have earned the benefits, let’s make sure that we take care of our elderly and ill. I am happy to be the first in line to make these payments.

At the same time, the fraction of American households not paying federal income taxes has also grown—to an estimated 45% in 2010, from 39% five years ago, according to the Tax Policy Center, a nonpartisan research organization.

This factoid, though, leaves me with an entirely different feeling.  (more…)

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