Posts Tagged fiscal policy

United States Debt Increases by Record $328 Billion in a Single Day

Following the deal reached Wednesday to extend the federal debt ceiling – or another way to refer to it: an agreement to delay actually dealing with the very real and inevitable fiscal problems until some unknown date in the future, for more virtuous people (if they exist) to solve – a quite predictable but nonetheless […]

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The Critical Problem with a “Balanced” Deficit Reduction Plan

In political anticipation of the president’s deficit reduction plan, due for release this coming week, the White House is preemptively touting its reported “balanced” approach – political newspeak for tax increases in various forms combined with supposed outlay reductions.  As one senior White House advisor noted, “what we won’t do is cut our way to […]

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Raking In the Cash

The Congressional Budget Office estimates that the largest corporate organization in the history of mankind, the United States federal government, will reap a record $2.7 trillion in tax revenues this year.  For comparison, that number is greater than the nominal gross domestic product (2011) of each and every one of the world’s nations, with the […]

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The United States’ Foreign Debt Hits Record High

Recently, the United States’ foreign-held debt reached a record high of ~$5.29 trillion.  This debt reflects a 72.3% overall debt increase to foreign entities under the current administration’s term and includes ~$1.16 trillion owed to America’s largest foreign creditor, China, who owns approximately 22% of the total foreign debt.  In the status of foreign creditors, […]

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