national debt Archive

Stockman’s ‘Four Deformations of the Apocalypse’

Four Deformations of the Apocalypse By David Stockman July 31 (NYT) — If there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. The nation’s public debt — if honestly reckoned to include municipal bonds and ...Read More

The Political Genius of Supply-Side Economics

Where am I wrong, if at all? I agree with the political analysis. I know Bruce Bartlett and he’ll be the first to tell you he does NOT understand monetary operations. Even simple statements like ‘China keeps its dollars in its reserve account at the Fed’ seem to cause him to glass ...Read More

NYFed

Good find! I recommended this years ago when Karim first introduced me to his Treasury contacts. It moved forward and was passed around for discussion, but the dealers quashed it. An unlimited lending program could replace much of the generic libor swap market. Wish they would revisit it. Why Is the U.S. ...Read More

Feds’ budget tricks hide trillions in debt

Feds’ Budget Tricks Hide Trillions in Debt -Scott Burns Every year, tens or even hundreds of billions of dollars are quietly added to the national debt — on top of the deficits that we hear about. What’s going on here? Burns doesn’t get it. When it comes to financial magic, the government ...Read More