Category Archives: Budget

Why the Debt Ceiling Matters: Currency & Goverance Regime Matters

In national emergencies Congress can exceed tax expenditures and run deficits.  What Reagan taught was simple, the deficit itself is not the problem, but the depth, the reach and scope of government on civil society IS. This is why confiscatory … Continue reading

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The State Pension Blow Out

When Meridith Whitney, the Chief Investment Officer for Kenbelle Capital CP published “Fate of the States:  The New Geography of American Prosperity”, most folks never really questioned the contractual obligations states have; the mantra out of union leadership was that … Continue reading

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Income Inequality & GOP Initiative

Secular stagnation is deliberate obfuscation.  It locates any “difficulty” within the business cycle itself, absolving the very policy makers from having to admit failure.  It didn’t work for the Mayans, it will not work for progressives. Being reluctant to admit … Continue reading

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What Ails Amerika: The Fix is In

The numerous monetary and institutional constraints that continue to roll out as crisis’ don’t really speak to what really ails Amerika, namely our insurmountable fiscal political disorder that has become American liberalism. The tipping point usually begins when Treasury debt-to-GDP … Continue reading

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Dr. Ronald I. McKinnon: The Arab Spring & Loose Money at Federal Reserve

Don’t expect a synoptic approach from arcane specialists. Arnold Toynbee’s massive 12 volumes on the “Study of History” spells out the social and psychological relation between pusillanimity and the pathetic drive to fine a niche from which to survive.  This … Continue reading

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The Sequester: How To Implement Cuts The Smart Way

The Gramm-Rudman Sequester (automatic fiscal budget cuts) in 1986 created lasting cuts in the federal budget, what’s happening these days are not cuts but reductions in the rate of spending.  The distinction isn’t dubious, but the chatter class isn’t interested … Continue reading

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