U.S. stocks declined for a fourth day on Friday as worries about the U.S. budget deficit persisted, with U.S. Treasuries and the dollar also losing ground.
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RECOMMENDED READING
- The Coming Generational Storm By Laurence J. Kotlikoff and Scott Burns
- Gray Dawn By Peter G. Peterson
- Running on Empty By Peter G. Peterson
Quotes
- “The US government has a technology, called a printing press… that allows it to produce as many US dollars as it wishes at essentially no cost.” – Ben Bernanke
- "Central banking is the most brilliant device of profit-seeking monopolists and oligopolists in human history. Nothing else comes close. Hardly anyone understands it, so there is no organized opposition." - Gary North
- "If our policymakers wait to address these growing debts until they are out of control, the solutions will be drastic and painful" Villarreal.
- "Obama's team employed one of the oldest budget tricks in the books — exaggerating economic growth — to hide the true cost of his tax and spending plans." IBD
- "Never allow a crisis to go to waste. They are opportunities to do big things." Rahm Emanuel
- "Obama’s Trillion Dollar Debt Plan is not a ‘change’ from Bush, it is Bushonomics on steroids." The Heritage Foundation
- "A stimulus bill should stimulate, not grow government" IBD
- "What we have done is kicked this can down the road; we are now at the end of the road and are not in a position to kick it any further" Obama
- "What’s good for the country my children will inherit?" Obama
- "Is it a safety net, or a hammock?" Lazarovici
- “If deficit spending stimulated the economy, with $2 trillion already out there, the economy should be performing like a double shot of espresso.” J.D. Foster
- “Whenever you bail something out, you have to take resources from people doing well. It’s a zero sum game.” Arthur Laffer
Links
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- Early retirement claims increase dramatically
- Crisis In Social Security, Medicare Can't Come To ...
- Senior outrage over Social Security COLA
- Solving Social Security and Medicare
- Geithner says Obama, Congress will reduce deficit ...
- Deficit woes likely to dog dollar for some time
- Wall St falls on U.S. deficit worries
- They have been saving like never before.
- Rating threat to America's national debt
- Social Security - There is no locked box!
- Calif. voters say no to taxes as deficit cure
- U.S. Pension Insurer May Need Aid as Deficit Soars
- U.S. can't sustain current revenue, spending trends
- U.S. Insurer of Pensions Sees Flood of Red Ink
- Obama budget chief: As the economy starts to recov...
- Deficit Amnesia
- Obama Warns Of "Unsustainable" Deficits And Spiral...
- 81% Tax Increase
- Fiscal Suicide Ahead
- We are simply exchanging our economic crisis for a...
- Can’t We Wait Until 2037 to Solve That Problem?
- U.S. posts first April budget deficit since 1983
- Social Security and Medicare Finances Worsen
- Social Security and Medicare will run out of money...
- Adding to the national debt at a rate of more than...
- White House forecasts higher U.S. budget deficit
- Time for budget restraint
- Lack of increases could hurt Social Security recip...
- Craig Barrett on the Deficit
- Social Security, Medicare deficits portend inflation
- Defying predictions of the world's birthrates
- Would retiring at 70 help tackle our national debt?
- Boomers Lousy At Preparing For Retirement
- Obama's first 100 days all spending, taxing, borro...
- Obama Faces Challenges On Budget Vows
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