Republicans in the House are trying to derail Democratic efforts to lift the national debt limit, though they acknowledge it may be too late this time around.
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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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- How Does the National Debt Impact YOU?
- The coming debt panic
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