The Treasury Department said Wednesday that federal debt now tops $15 trillion — a staggering figure that has risen precipitously over the last decade. The exact debt total stood at $15.034 trillion as of the end of business Tuesday, an increase of $56 billion over Monday’s tally. All told, federal debt has risen $4.41 trillion [...]
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Despite a U.S. economy that moves forward at snail’s pace and Europe teetering on the brink of collapse, oil prices surged past $100 a barrel in New York Wednesday. Feeding the price action was Enbridge’s acquisition of the Seaway Pipeline from ConocoPhillips and its announcement that it would reverse the pipeline’s direction, easing oversupply caused [...]
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1) Incredibly weak recovery: President Barack Obama’s tax/spend/regulation policy — “stimulus”; continuation of TARP; bank, insurance company and auto industry bailouts; “quantitative easing” (aka the printing of money); cash for clunkers; minimum wage hikes; new regulatory rules on businesses; tripling of the deficit; addition of $4 trillion to the debt — failed miserably to produce [...]
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As anticipated, the U. S. Supreme Court will join 300 million fellow Americans in rendering judgment on Obamacare. But with this difference: The high court’s judgment, expected next June, will be the judgment that sticks. The rest of us — members of Congress and lower court federal judges included — merely spout off with force [...]
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The number of Mexicans leaving home for the United States is just about canceled out by the number returning, according to statistics provided by the Mexican government. The statistics suggest that a bleak job market north of the border, combined with the inherent risks of making the trek, have for now dissuaded many Mexicans from [...]
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As the congressional “super committee” works to overcome divisions on a deficit reduction deal, a leading conservative lawmaker is blasting billions wasted on “welfare for the well-off.” Oklahoma Sen. Tom Coburn (R-Okla.), who served on the president’s bipartisan fiscal commission and has been a member of the so-called Gang of Six, released a report Monday [...]
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If ever there was a populist blueprint for deficit reduction, this has got to be it. Each year, millionaires are soaking the government, not illegally, for some $30 billion in benefits from tax giveaways and loan programs, according to a report by Sen. Tom Coburn of Oklahoma. The Republican senator, a staunch fiscal hawk and [...]
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President Says ‘We Are Here to Stay’ at Start of East Asia Trip, but Beijing Challenges U.S. Role as Dominant Power President Barack Obama plunged into a long-awaited and high-stakes mission to re-establish U.S. leadership in the Pacific but is bumping into the expanding influence of China at every turn. Mr. Obama hosted a forum [...]
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With 10 days left until an automatic trigger for debt reduction, the Super Committee tasked with finding a plan to get rid of $1.2 trillion in impending debt over the next 10 years may have to punt. Six Democrats and six Republicans appointed to the panel — itself a source of contention among colleagues and [...]
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Sen. Joe Lieberman was treated like an outcast back in 2008 when he broke from the Senate Democratic Caucus and openly opposed Barack Obama’s bid for the White House. Asked last week if he’d back Obama in 2012, the Connecticut independent said, “I don’t know what I’m going to do.” This time around, there may [...]
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Remember, not only did you contribute to Social Security but your employer did too.It totaled 15% of your income before taxes. If you averaged only $30k over your working life, that’s close to $200,500. If you calculate the future value of $4,500 per year (yours and your employer’s contribution) at simple 5% (less than what [...]
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President Obama’s nine-day trip to Asia seeks to reassure America’s Asian allies and partners that the US is committed to strengthening its economic and security ties to the region. With America’s military presence in Iraq winding down by the end of the year yet with jobs dominating the domestic political picture, President Obama is redirecting [...]
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‘The president doesn’t care about your retirement account’ U.S. Sen. Rand Paul, R-Ky., says Democrats on the so-called congressional “supercommittee” have “walked away from the table” when it comes working out a tax deal with Republicans, as he claims President Obama doesn’t care about Americans’ retirement accounts. In an interview on radio host Sean Hannity’s [...]
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One of the secret weapons the corrupt mainstream media uses in their never-ending quest to Palace Guard for the left is context. For example, when it came to the Tea Party, the MSM was notorious for amplifying a single incident (that was usually a lie) and using it to attempt to smear and define an [...]
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Jeremiah Wright’s longtime congregant Barack Obama wants to tell you what God desires for America. At a recent speech in Washington, the president proclaimed that “God wants to see us help ourselves by putting people back to work.” Obama’s rather tired revelation however is worth considering for several reasons. First, Obama’s White House spokesman Jay [...]
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