By COREY BOLES
WASHINGTON—The federal government recorded a $1.3 trillion budget deficit in fiscal 2011, the same as the previous fiscal year, the Congressional Budget Office said Friday.
In its monthly assessment of the government's finances, the nonpartisan congressional scorekeeper said the $1.3 trillion deficit was equivalent to 8.6% of gross domestic product, down from 8.9% in fiscal 2010 but still the third-highest percentage of GDP recorded since 1945.
Best rant I've heard in a long time.
UPDATE: I added quotation marks to the word AMNESTY becaue too many posters wrongly equate it with debt forgiveness. What does one call a temporary stay on repayment, though? Not "Moratorium". That means a block on student loan issuance. Amnesty seemed to be the proper word for the temporary stay on repayment. Any ideas on a more proper term is welcome for future discussion.
My proposal is this:
Ron Paul, author a bill that would allow students to liquidate their debt and file for bankruptcy in the same manner a business or individual would. This would lead to fewer "easy" loans being passed out like candy, would encourage kids to go to more affordable schools, and would force schools to compete and lower tuition.
For the first time in Greece a documentary produced by the audience. "Debtocracy" seeks the causes of the debt crisis and proposes solutions, hidden by the government and the dominant media. (Subtitles)
Hi I am new here, but I needed to put this out for Mr. Paul.:
"All of the federal government's efforts to stem the tide of the financial meltdown have added hundreds of billions of dollars to an already staggering national debt, a sum that is expected to double over the next 10 years to more than $23 trillion."
"In Ten Trillion and Counting, FRONTLINE traces the politics behind this mounting debt and investigates what some say is a looming crisis that makes the current financial situation pale in comparison."
You guys have to check this out. I can't believe it. http://current.com/community/93456169_bi-partisan-congressio...
Doug Casey of Casey Research
Watch the short introductory video and register with email to watch presentation.
The dismal state of the US economy and out-of-control government spending affects every American’s life and wealth. In our free online event, The American Debt Crisis – How Big? How Bad? How to Protect Yourself, five Casey Research experts were joined by guests John Mauldin, Mike Maloney and Lew Rockwell to discuss the potential for a breakdown in the monetary system, and specific ways to protect and build your assets.
Hidden away at CNN.
This spunky young woman busted out a funny, liberty-minded rendition of 'Poker Face' mixed with Cher's 'Believe' at LPAC. Celeste Paradise hails from San Francisco. She has several songs posted on her YouTube page.
The live discussion is over, but here is the clip on youtube if anyone is interested:
Fund Veterans Obligations or Foreign Empire? The Pentagon chooses squashing out veterans.
From an interview on September 11