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Living on Credit: the Federal Budget
Jun 9, 2009
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Both Republicans and Democrats are guilty of excessive and unwise deficit spending. However, the past mistakes of both parties are no excuse for continuing this dangerous practice. The largest federal deficit between 2001 and 2007 was $413 billion. This year’s deficit is projected to reach an unp...
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Bloomberg: Obama Says U.S. Long-Term Debt Load ''Unsustainable''
May 15, 2009
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May 14 (Bloomberg) -- President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.
“We can’t keep on just borrowing from China,” Obama said at a town-hall...
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Congress Adopts Unprecedented $3.6 Trillion Budget
May 5, 2009
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On April 29th, Congress passed Speaker Nancy Pelosi’s $3.6 trillion dollar budget for fiscal year 2010. In the House of Representatives, seventeen Democrats joined 176 Republicans opposing this irresponsible budget. In the Senate, three Democrats and forty Republicans voted no. At a time when our na...
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How Much is 1,000,000,000,000?
Apr 7, 2009
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On April 2nd, Speaker Nancy Pelosi succeeded in passing her federal budget that outlines more than 3.5 trillion dollars in spending for fiscal year 2010. The non-partisan Congressional Budget Office (CBO) projected a 1.8 trillion dollar deficit for the current fiscal year (FY2009), and that projecti...
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The Devil is in the Details: No Restraint
Mar 31, 2009
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Every day, Kentuckians tell me about the sacrifices they are being forced to make during these difficult economic times. Across the Fourth District, families are monitoring their spending more carefully and weeding out unnecessary expenses to streamline their budgets. It is unacceptable that Washing...
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The Devil is in the Details: An Assault on Charitable Giving
Mar 24, 2009
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In these difficult economic times, more Americans are turning to non-profit and charity organizations for assistance. From local soup kitchens and homeless shelters to major philanthropic organizations, like the Red Cross and Goodwill Industries, charities across the nation are reporting an overwhel...
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The Devil is in the Details: Higher Taxes for Small Businesses
Mar 17, 2009
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The U.S. Labor Department recently released the unemployment numbers for February. More than 650,000 jobs were lost last month, pushing the national unemployment rate to 8.1%, up from 7.6% in January. Since the recession began in December 2007, 4.4 million jobs have been cut. February’s report furth...
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