Pay Later

Hordes Of Anti-Trump Democrats Are Lining Up To Run For Congress In 2018

If Republicans don’t wake up, there is a very real possibility that we could lose control of the House of Representatives in 2018. And if that happens, Donald Trump’s agenda will be dead in the water because the Democrats will use their majority to block everything. Trump’s surprise election victory last November was perhaps the single most galvanizing moment for grassroots Democrats in this generation. Just as the election of Barack Obama gave rise to the Tea Party movement, we are now seeing a tremendous amount of energy among liberals all over the nation. If Republicans cannot match this energy, we are going to be in for quite a shock in November 2018. (Read More...)

The Republicans In Congress Have Betrayed Us Again

I guess by now we should be accustomed to politicians lying to us. For years, Republicans have been promising to repeal Obamacare if we would just give them control of the White House, the Senate and the House of Representatives. We did that, and now they are breaking that promise. Because even if “Obamacare 2.0” miraculously gets through the Senate, most of the essential elements of Obamacare will survive. If you look at the latest Senate bill, most of the Obamacare subsidies are still in there, many of the Obamacare taxes are still in there, and most of the Obamacare regulations are still in there. On top of everything else, the bill would create an absolutely massive health insurance company bailout superfund, and that is something that the Democrats never even dared to do. The bill being pushed by Senate Majority Leader Mitch McConnell wouldn’t actually fix much of anything, and it certainly cannot be called a “repeal” of Obamacare. (Read More...)

The Real Obama Budget Deficit For 2011: 5 Trillion Dollars

If the U.S. government used the same accounting methods that most U.S. businesses use, the real federal budget deficit for last year would have been 5 trillion dollars instead of 1.3 trillion dollars.  So where does the huge difference come from?  I think a simple illustration would be helpful here.  When you go shopping, do you only count the transactions where you use cash, or do you also count the transactions where you signed on the dotted line and promised to pay later?  Of course you count both of them.  Well, the U.S. government does not count promises to pay later when calculating budget deficits.  The “official” Obama budget deficit for 2011 was 1.3 trillion dollars, but according to USA Today when you add in the rise in liabilities for Social Security, Medicare and other retirement programs that adds another 3.7 trillion dollars to the total.  Those are future financial promises that we have made that future taxes are not expected to cover.  This analysis by USA Today squares very well with what analysts such as John Williams of shadowstats.com have been saying for years.  The truth is that our federal budget deficits have actually been far worse than we have been told. (Read More...)