President Barack Obama on Monday signed into law an increase in the U.S. national debt limit to $12.4 trillion, the White House said in a statement.
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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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January
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- Deficits and debts in plain English
- Obama to Propose $3.8 Trillion Budget
- Missing the Target
- The Global Debt Bomb
- Senate discussing a raise in national debt ceiling...
- U.S. debt to reach $50 trillion by 2030
- In just two days this week, the Treasury issued $6...
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- High U.S. debt means slower growth, history suggests
- There's never been an example when the end result ...
- National Debt Could Bring Social Collapse
- Promise to Trim Deficit Is Growing Harder to Keep
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- U.S. Nears the Precipice
- Obama signs U.S. debt limit increase into law
- Coming Soon: The Bill for the Massive U.S. Debt
- A debtor nation
- If Social Security Gets No Increase, Why Do Federa...
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January
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