Daily Archives: July 29, 2011

Wondering Where the Money Went?

Posted on by
1

By DEADLY CLEAR

Like many Americans I have wondered what the actual spending habits of the government look like.  Here’s a pretty good chart the New York Times posted on the economy.
Looks like President Bush’s spending habits were about as bad as Wall Street’s securitization Ponzi scheme – the timing of the rip-offs are about the same.  The unanswered question is how much of the debt that is held by “THE PUBLIC” in state and local government pension funds is still holding value? For that matter – how much of all of that debt has actual Continue reading →

NY Times – Q. and A. on the Debt Ceiling

Posted on by
1

Q. and A. on the Debt Ceiling
By  and Published: July 27, 2011

For a time it seemed safe for many people going about their summers to try to ignore the debt ceiling drama playing out in Washington. If Wall Street had not seemed overly concerned that the United States was headed toward default, why should anyone else worry? And there is the long history of crying wolf in Washington: in April everyone finally got up to speed on the threatened shutdown of the federal government just in time to see it averted by an 11th-hour deal.

But now, palms in Washington are beginning to get sweaty, the stock market is sliding and President Obama is breaking into “The Bachelorette” to address the nation about the debt crisis. Perhaps the time has finally come for a crash course in all things debt ceiling. Continue reading →