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Skyfalling?

The Associated Press’ rundown of the budget impasse, with the expected default fear mongering and GOP blaming. Excise the bias and it is a decent summary.

The United States moved perilously closer to an economy-rattling default and a partial government shutdown entered its third week as Senate Democratic and Republican leaders remained at odds over [...]

Get Them Some Milk of Rhodesia

Zimbabwe has $217.00 in the bank. You read that right.

There are cash-strapped governments, and there are broke governments. And then there’s Zimbabwe, which, after paying last week’s government salaries, has just $217 in the bank. No, we didn’t forget any zeroes to the end of that figure. Zimbabwe, the country that’s home to [...]

Seven, Go Eleven

Somebody else’s daddy needs a new pair of shoes! From The Weekly Standard:

In the wake of the Treasury Department’s newly released summary of federal spending for 2012, it’s now possible to detail just how profligate the Obama years have been. Here’s the upshot: Under Obama, for every $7 we’ve had, we’ve spent nearly [...]

Texas Hell Yeah!

Awesome.

h/t: the Governor’s Twitter feed

**Apparently there was a “great minds think alike” thing with Eric Outlaw… Alas… mine posted first.

And Outlaw was correct. Rick Perry won the internet today.

Irony. It’s Ironic

Want to get out of debt? Uncle Sam can tell you how in the Federal Trade Commission’s series “Knee Deep in Debt”:

Knee Deep in Debt

Having trouble paying your bills? Getting dunning notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your [...]

Politicians First

Don’t get me wrong… intentionally not paying one’s debts is immoral… borrowing money with the intent to not pay it back qualifies as fraud and/or theft in most jurisdictions (probably “all”, but just in case…), but our bankruptcy system was put into place in large part to deal with these issues and avoid the [...]

Eat the Rich — Buffet Style

Somehow I missed this last week (oh right I was on vacation), but Warren Buffet wrote an op-ed for the August 15 edition of The New York Times where he advocated resolving our debt crisis by raising taxes on the rich and the super rich:

Job one for the 12 is to pare down some [...]

Iceland and Debt

Here’s an interesting story on how Iceland handled its 2008 collapse.

http://www.bbc.co.uk/2/hi/programmes/from_our_own_correspondent/9550667.stm

The government shut down the banks and walked away from all its debts.  The upside… the government is debt free.  The downside… most citizens will never get out of debt due to the devaluing of the krona.  There was however, no street [...]

National Debt Relief Amendment

Here’s an interesting idea from The Goldwater Institute (bolding mine):

But we can stop the mounting debt. Last week, model legislation for the National Debt Relief Amendment was preliminarily approved by the American Legislative Exchange Council (ALEC)—a nonpartisan organization that brings together state legislators from around the country to discuss and debate public policy. Upon [...]

Here’s Your Harrumph.

I love a good harangue… and this is a great one — another British MEP to the Euro-Parliament.