Browse by Tags

Forecasts & Trends

Blog Subscription Form

  • Email Notifications
    Go

Archives

  • Is the Debt "Super Committee" Doomed to Fail?

    The so-called congressional "Super Committee" that was set up during the debt ceiling battle back in August is charged with finding $1.5 trillion in federal spending cuts over 10 years, and the deadline to do so is November 23 - just over a month from now. If the Super Committee fails to come up with $1.5 trillion in cuts, then some nasty triggers come into play to automatically cut spending across-the-board at the beginning of 2013.

    Obviously, the Super Committee has a gargantuan task ahead of it and on a very short fuse (i.e. - Nov. 23) to find $1.5 trillion in spending cuts over the next 10 years. Will the 12 committee members (6 Republicans and 6 Democrats) be able to reach such a historic agreement in time before the mandatory triggers and spending cuts go into place? Frankly, I doubt it.

    The mainstream media has been largely silent in recent weeks on this looming controversy. So, in today's E-Letter I will succinctly get you up to speed on the pertinent issues surrounding the Super Committee and the challenges it faces. This is definitely something you need to know about and understand as the debate in Washington unfolds in the weeks just ahead.

    ...
  • America's National Debt Tops $13 Trillion

    With relatively little fanfare in the media, the US national debt cruised above $13 trillion last month. The federal budget deficit for fiscal 2010 is projected to reach a record $1.5 trillion by September 30, and will be above $1 trillion in fiscal 2011 as well. President Obama's own budget projections show that our national debt will swell by almost $10 trillion more over the next 10 years.

    This out-of-control spending has caused both the International Monetary Fund (IMF) and the Bank for International Settlements (BIS) to formally call for the Obama administration to curb its budget deficits. In response, President Obama has created a 'Debt Commission' to study ways to reduce the deficits. Don't be surprised if this commission concludes that the only way to fix the problem is a 'Value-Added Tax' (VAT).

    ...