Debt

Questionable Spending at the Department of Justice is Poorly Monitored

Last Friday, the White House announced they are now expecting triplets – three years in a row of budget deficits in excess of $1.4 trillion. 

The government’s own watchdog assigned to keep and eye on the financial bailouts puts the running total now at $3.7 trillion, and it has happened “largely without congressional action.”  

"The nation's debt leapt $166 billion in a single day last week... bigger than the entire annual deficit for fiscal year 2007. The figure works out to nearly $1,500 for every U.S. household, or more than 10 times the median daily household income… On Wednesday, the Congressional Budget Office said the government has recorded a $1 trillion deficit for the first nine months of fiscal 2010, which began Oct. 1." Read more…

Debt-to-GDP ratios over 90% have significant impact on the pace of economic growth.

By Michael J. Boskin, February 12, 2010, Wall Street Journal

Nancy Pelosi and Harry Reid like to criticize the Republicans as the “party of no” vacant of any ideas worthy of serious consideration. Syndicated columnist George Will disagrees and thinks Paul Ryan is at least one good source. Will has been critiquing the idea vacuum on Capitol Hill for almost 40 years. As infrequent as a good idea happens in Washington, he knows one when he sees it.

GOP Idea Man Charts Course For Solvency