Category: Debt

Rep. Tom Latham Staying Engaged on Fiscal Responsibility, Appears at Fix The Debt–Iowa Event

fix the debtProving his concern about our country’s national debt wasn’t mere campaign lip service, Congressman Tom Latham continued to warn against the perils of a $17 trillion debt in Urbandale on Friday.  He joined an event hosted by the Iowa chapter of Fix The Debt and toured the facility of Jon Troen’s ColorFX company.

Speaking to a group of ColorFX employees Latham seemed hopeful a long-term solution could be agreed to this year saying, “I think there is a real chance of getting a bi-partisan deal passed.  It has to be done to ensure our nation’s economic and fiscal security.”  As the owner of a company trying to navigate through an increasingly shaky economy, ColorFX owner Jon Troen fully concurred by stating, “The national debt affects …


“Fix The Debt Iowa” Releases New Web Ad

fix the debtA very worthwhile group has come to Iowa recently and their mission is to solve the debt crisis that America is currently headed for.  “Fix The Debt Iowa” is one of the 23 state chapters of a larger group which can be found at FixThe Debt.org.

Last week they released a short web video in Iowa equating our nations fiscal problems with the budget of a middle-class family–which is cleverly done by adding or subtracting eight zeros.

I am happy to see efforts being made to frame the facts of this issue in a way that even the non-politically involved can understand.  Since the national debt is now in excess of 16 million separate units of a million dollars, quantifying the problem is getting …


On National Debt, Default is Inevitable

Much attention has been focused on the size of the national debt as a whole; roughly $14.4 trillion. That number is astonishing, but the sheer size of the debt actually hides the true horror which is in store for the economy and future generations.

The debt has many component categories, the largest of which is called Marketable Debt. That means the portion of the debt that was issued in treasury securities that can be sold in the secondary bond market, and it is around $9.2 trillion. The rest is Non-marketable, and held mainly by the Social Security Administration through bonds that cannot be sold.

The Marketable Debt also has its own sub-components, based on the type of security that was sold to incur the debt …


The Failure of Stimulus

Imagine a plot of land in the desert, consisting only of mesquite scrub and dust. If you assembled a system of sprinklers on this desert land, and ran them heavily enough, you could make the desert green with grass, corn, or even water loving willow trees. But then the water supply you are stealing from runs dry, and the sprinklers sit there, idle. The greenery of your efforts wilts, dies and turns to dust.

This is the story of government stimulus. First, the federal government stole – yes, I said stole – hundreds of billions of dollars to bail out first the banks, and then General Motors, and then spend hundreds of billions more on the President’s stimulus package, which promised to reignite the economy, …


American Gladiators II: A Painful Look Back…A Bright Future Ahead

The Following piece is the 2nd installment of an ongoing series here at The Conservative Reader. “American Gladiators” is a recurring feature focusing on the defining political issue of our generation: the crucial battle over Federal spending and the debt and deficit it creates.

A favorite saying of both political parties these days is that “elections have consequences”—2010 proved that so do primaries. For Republicans no past event has had a bigger impact on the eventual major players and the shape of the fiscal debate’s battlefield than the primaries preceding the 2010 mid-term elections.

Though history now, you may recall at that time an internal debate was raging amongst Republicans. Many influential Conservative thinkers, including Charles Krauthammer, joined a large number of high ranking members …


Pondering the Passion for Paul: Ron Hits Town as Iowa Campaign Hits Stride

On a macro level the last few weeks of the Ron Paul Presidential campaign have been a little bumpy. The turbulence was provided by a much publicized exchange with WHO Radio’s Simon Conway and rough national television interviews with MSNBC’s Chris Mathews and Fox News’ Chris Wallace. The fact that the Mathew’s interview would be contentious was likely known, but having Chris Wallace, on Fox News Sunday, aggressively infer that the “general welfare” clause was valid justification for unlimited Federal government involvement had to come as a shock (I know I was shocked).

If one thought that would dampen his supporters’ enthusiasm, a few minutes spent at the Paul campaign headquarters in Ankeny on Monday would be enough to prove them mistaken. In fact the …


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