Modern Monetary Theory (MMT) basically says most fears about budget deficits are wrong and dangerous. The federal deficit is projected to swell to $4 trillion this year. Republicans are nervous. Democrats are eager to spend trillions more.
Articles tagged as
Deficits
Coronavirus Bailout Money for Higher Ed Institutions
What did you spend for coronavirus bailout money for higher Ed institutions? Harvard decided not to apply for their $9 million share of the $2.2 trillion CARES Act. With an endowment of over $40 billion that is very gracious.
Opposite Day – Cuomo Says New York Can’t Raise Taxes on the Rich Because They Might Leave
Andrew Cuomo has a 2.3 Billion dollar problem called a deficit. But the Democrat governor says he won’t raise taxes on the rich. “That would be the worst thing to do. You would just expand the shortfall,” he said. “God forbid if the rich leave.” Strange words from a Democrat, so who does he tax? … Read more
A New Hampshire Democrat Accounting Trick – Explained
In years past the New Hampshire Democrats have taken to all kinds of foolish ideas to hide the truth about their blinkered incompetence when it comes to managing other peoples money. Here is but one example to give you some perspective. Let’s say my wife and I ran our budget like New Hampshire Democrats and … Read more
The basis of his economic theory
You can steal from your children and your grandchildren with impunity because, after all, “In the long run, we’re all dead“. “We repudiated entirely customary morals, conventions and traditional wisdom. We were, that is to say, in the strict sense of the term, immoralists. The consequences of being found out had, of course, to be … Read more
NH Democrats Focused on The Economy
Hah! No they’re not. If that were true they wouldn’t be blowing out the state budget and growing spending five times faster than estimated growth.
Democrats. Don’t you love them?
What they are actually focused on is off-shoring (that’s a metaphor) their own responsibility for managing our sovereign state. Instead of standing up and running on the Democrat party stated position on super-duper enhanced background checks at the state level, they are passing the buck on to the Federal government. It’s a big deal for them, “off-shoring” your state’s rights to the feds.
There is No Ball
Do New Hampshire Democrats have their priorities straight? Think about it. The economy is creeping along. No one is projecting even moderate growth. Employment is likely to remain flat which means unemployment is as well. All in all, the best we can hope for, according to all the ‘experts’ is to drift along for a while. So what are New Hampshire Democrats doing?
In one of the safest states in the nation, with some of the most–dare I say liberal–gun laws in the country, they are investing their energy on harassing a Republican Senator (Kelly Ayotte) who doesn’t even have to run for office until 2016, over a vote that wouldn’t even do much if any good to solve the problem they claim it is meant to resolve; while at the exact same time, asking New Hampshire taxpayers to let them grow the size and cost of government as much as 10%.
Economy sucks, maybe 2% growth if we’re lucky over the next few years–New Hampshire Democrats want to give the government a permanent 9-10% raise.
Talk about not keeping your eye on the ball.
Wait. This is supposed to be like the Matrix, right. There is no ball. Look- Ayotte!
April 27th GrokTALK! Guest Segment – NH House Rep Bill O’Brien
This week on GrokTALk! New Hampshire House Republican, and former Speaker of the NH House, Rep Bill O’Brien talks to Skip and Steve about budgets, deficits, dishonest accounting gymnastics, devolving power from Concord and returning it to the towns and the people, and how his exploration of a potential congressional run is going. To download … Read more
Did Mayor Gatsas Kick The Can Down The Road?
On April 11th I swung for the fences in regard to remarks by Manchester Mayor Ted Gatsas and his desire to get some benefits concessions from the Teachers union to free up money in the budget..for education. In the course of those remarks I pointed out how the Mayor had boasted about an agreement with the Manchester police and that he was just looking for something similar from the Teachers union.
A day or two after I published the post I received some intersting correspondence about that agreement with the Manchester Police; that while the union had made some very public benefits concessions there may have been other deals in the contract that could cost taxpayers even more down the road. The unions may have actually come out ahead.
More Sequestration Fun…with Michael Ramirez
A picture is worth 85 billion words
Forward is the New Backward
Reality thy name is payroll tax cut, or more to the point the absence of same. That’s right, the federal government will no longer be subsidizing your lifestyle. The “holiday” is over. They are taking back that which is theirs. And all of our paychecks are going down as a result.
Effective January 1st the payroll tax rises from 4.2% to 6.2%. That hits everyone. And there is a lesson to be learned here if liberals, and people who refuse to pay attention, pay attention. That 2% subsidy you just lost–that is what the Democrats call it when they don’t tax rich people, business owners, or oil companies, a subsidy–really is your money, just like it really does belong to everyone else who goes to work or runs a business or takes on investment risk.
Let Us Dine On the Rotten Fruit of Compromise With the Left
If you ignore all the marketing and PR that surrounds the fiscal cliff and just boil it all down to the bones, what happens on January first is what Democrats wanted. Ace Gets it right Here.
Remember, the deal that got us to this point was agreed to by House Republicans, Senate Democrats and signed by Obama. That’s as bi-partisan as it gets. I’ve heard from squishy low information voters, Obama and the media that “bi-partisan problem solving” is the Holy Grail of politics. Well, here it is.
The Cliff is a Democrat plan. It was passed by a Democrat Senate, signed by a Democrat President, and as Ace points out, is precisely the kind of compromise the left insists Republicans engage in over and over again.
Don’t Think The Debt Matters, Think Again
We’re $16,000,000,000,000 in debt. Don’t think it matters? Consider this: who owns the debt, and what is going to happen when they collect? How are government programs going to remain funded when interest payments on the debt begins to siphon off those funds into coffers of the bondholders? Ask yourself this question again after you’ve contemplated the return to the historical average interest rate and not the artificial rate we’ve been basking in. “...from 1971 until 2012, the United States Interest Rate averaged 6.2 Percent…”, but we’ve been enjoying rates less than 3% for what seems like five years. The government borrows 40% of every dollar it spends in your name. Imagine how great the interest payments will be on that borrowed money when we return to the historical average? Think the interest rates will remain this low?
Permanence is fleeting.
How To Be Wrong ‘By Barack Obama’
CNS News reports that the CBO, the Congressional Budget Office, using data provided by Obama’s own Office of Management and Budget (OMB), announced today that taxpayers will lose 24 billion on the various Federal Bailouts. Meanwhile, over in ObamaLand, the president is telling whomever will listen that… “We got back every dime we used to … Read more
Democrats Screw Most Vulnerable Again
A question that has long ago been answered is can government lift people up? The answer is no. It can only hold them down. When it holds them all down the Liberals call this equality and history has yet to provide one example where the kind of planned economy Democrats favor ever did any better … Read more
Can Using Only Tax Increases Address The Debt Problem?
This is how I understand it.
We have $16,000,000,000,000 in debt. We’re spending $1,000,000,000,000 more a year than we bring in, and we’ve been doing it for the last 4 years.
As a conservative, I see it as a spending problem; we simply spend more money than we have. We get the money by borrowing from our children, leaving them the debt to be paid. But hey, I’m human; I may be wrong; I just want the debt burden lifted off of my children and future grandchildren so that they may have the life my parents afforded me, so I’m open to alternatives.
So, let’s try to tax our way out of it. And no hodge-podge right wing loon sources; we’ll use only liberal or other non-conservative sources to get our data to address our concern. We’ll assume no cuts in spending, only raise taxes, and all else being equal.
Face Plant – So Who Do We Tax After That?
As a followup to this post on Taxing the rich, I did want to point something else out. Even if you taxed the rich at 100% you still couldn’t pay for even one year of Obama/Democrat spending. Not even one full year. And that’s just for running the government, and not a penny toward the 16 trillion dollar deficit. And yet that is their answer for dealing with the spending problem.
Seeing as the top 5% already pay 90% of all Federal taxes this begs the question, and it’s one you should feel free to ask New Hampshire Democrats as well…If there are no rich, becasue you took all their money, and we can’t even pay one year of the budget with this one time tax of 100%, then who do you tax to pay for the rest of that year, every year after that, and the 16 trillion dollar deficit after that?
Ask them. (You could also ask them if this would mean the Democrats are shutting down government, ask them who built what, ask them how this much irresponsible spending is not a tax on the middle class–seeing as you can’t pay for any of it without taxing them…use your imagination, they have left you with so many lies there is no shortage of material to work with.)
Remembering Democrat Rule – No Taxes Means More Taxes
In 2007 New Hampshire Democrats assumed complete control of state government. And much like the Democrat rhetoric in the current 2012 campaign, back in 2007, their first budget, New Hampshire’s first budget over 10 billion dollars, was billed by the Democrats as a budget that “addresses our state’s priorities without new taxes.”
Addresses our ‘State’s’ priorities. Without new taxes.
They lied.
RGA Releases Ad – Maggie Hassan is a Tax And Spend Democrat [Updated – Politco reports]
The Republican Governors Association (RGA) is not wasting any time. They ave released a new ad on the web site http://hassantaxhikes.com/ called ‘Deja Vu.’ And it gets to the heart of the matter. Maggie ‘But Gurl’ Hassan is a NH Democrat, a tax and spender. She always has been. And her taking the tax pledge is no barrier to that.
Here’s the ad
[Update on the jump] Hint politico Headline “RGA Attacks Hassan in New Hampshire”