Archive for the ‘Too Much Debt and What To Do’ Category.

John Stossel – Puerto Rico Is A Model For Economic Recovery

John Stossel explains in this short video how Governor Luis Fortuño of Puerto Rico showed political courage and reduced public spending and debt.

Here are the main points of the video:

Our politicians won’t stop spending. Puerto Rico was in the same boat as us. Businesses fled because of the high taxes. When the current governor, Luis Fortuño, was elected, there wasn’t enough money to pay the government workers. John Stossel interviews Fortuño in this video.

Fortuño cut spending and lowered taxes. In three years, they cut their deficit [...]

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Its Simple to Balance The Budget Without Higher Taxes

CBO Baseline Budget

Politicians and interest groups claim higher taxes are necessary because it would be impossible to cut spending by enough to balance the budget. This Center for Freedom and Prosperity short video shows that these assertions are nonsense. The budget can be balanced very quickly by simply limiting the annual growth of federal spending

Here are the main points of the video:

What would it take to balance the budget without higher taxes? Deficits are caused by too much spending. According to the Congressional Budget Office, the Federal Government is [...]

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Deficits Debts and Unfunded Liabilities The Consequences of Excessive Government Spending

Estimated Spending

This short video from the Center for Freedom and Prosperity reveals that deficits and debt are symptoms of the real problem: excessive government spending..

Here are the main points of the video:

Over the next 10 years the Congressional Budget Office estimates that the Federal Government will spend $3.6 trillion per year, growing to $5.7 trillion, as shown below:

Deficits are going to average $1 trillion per year, as shown below:

The national debt (debt held by the public) will climb from $9 trillion to $20 trillion, [...]

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Deficits are Bad but the Real Problem is Spending

The_Problem_Is_Spending

Dr. Daniel Mitchell is worried about huge deficits and skyrocketing debt levels. This Center for Freedom and Prosperity Foundation video explains that government borrowing is excessive – and will get worse in coming decades. But, deficits and debt are merely the symptoms; the problem is government spending.

Here are the main points that Daniel Mitchell of the Cato Institute makes:

As you can see from the graph below, debt has grown in absolute terms through 2000, but economy has grown as well. Therefore, debt as a percentage of GDP [...]

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Americas Looming Fiscal Collapse

Blaise Ingoglia, founder of Government Gone Wild!, discloses that If we pay for Social Security, Medicare, Medicaid, government pensions and interest, we could not pay for anything else, layoff every government worker and close the military and still not balance the budget. Watch this video by Government Gone Wild!,.

Here are the points that Ingoglia makes:

Is it any secret that Congress’ favorability rating is so low (only 13% of the population think Congress is doing a good job). We as a nation pay more in taxes than we [...]

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Brother Can You Spare A Trillion Government Gone Wild

This week’s lesson will provide a short video each day explaining why our federal government has too much debt.

Blaise Ingoglia, founder of Government Gone Wild!, discloses that the government spent $413 billion in interest in 2010, which is more than we spend on Departments of Health and Human Services, Transportation, Energy, Veterans Affairs, Housing and Urban Development, Justice, Homeland Security, Agriculture, Commerce, Treasury, Labor, and Small Business Administration combined. Since 1988, Congress has spent $8 trillion in interest payments alone.

Here are the main points that Ingoglia makes:

[...]

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