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Posts Tagged ‘our deficit’

Malpass: Bigger Battle Behind the Shutdown

Posted by Larry Doyle on October 17th, 2013 9:55 AM |

Recent polls regarding confidence in our public officials in Washington are at historic lows and with the can having been kicked down the road for only 3 to 4 months, I do not see those polling figures improving anytime soon.

If those in Washington on both sides of the aisle actually care about the public interest and the need for an adult dialogue, they may want to start by addressing the points raised by David Malpass. His recent commentary is overflowing with a host of basic principles of real sense on cents.

At its core, the shutdown is part of a much bigger battle to restrain the federal government. It is spending $3.6 trillion per year without a budget, and its expenditures are expected to increase rapidly in the years ahead.

Meanwhile, the government has piled up $17 trillion in debt and $60 trillion more in unfunded spending promises. The Federal Reserve will borrow $1.1 trillion in 2013 alone to buy bonds—and it reserves the right to borrow unlimited amounts for future bond purchases without congressional or presidential permission. (more…)

The Time Bomb of Global Government Debt and Deficits Is Ticking Louder

Posted by Larry Doyle on June 23rd, 2010 12:35 PM |

Living beyond one’s means is a path to long term pain. That path is not in front of us, but rather is upon our nation and many others around the world.

The cost of funding the global government debt and deficits will continue to serve as a drag on our economic future. While financial wizards may believe the debts can be postponed, the simple fact is in the midst of a sluggish economy, global governments will not generate sufficient tax revenues to fund spending programs and the deficits. What does this mean? Lessened spending, increased taxes, and assorted other measures of fiscal austerity.

The Financial Times provides a fabulous review on this topic today in writing, Public Finances: Daunted by Deficits: >>> (more…)






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