All Posts Tagged With: "National Debt"

“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

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 …

Default is Inevitable, Part II

Talking points are truly amazing things. They capture the essence of the obsessions of political operatives. The political news has recently been dominated by the talking points surrounding the debt ceiling debate, with the main terms of choice being the assorted variants of “apocalypse.”

First of all, failing to raise the debt ceiling would not automatically lead to a default on the national debt. The federal government would continue to collect revenue, and could use that revenue to pay debt obligations as they fall due, or in other words, pay the coupon interest on time. This would involve deep cuts to everything else, and if you are a professional politician that is synonymous with impossible, so there is an assumption that default would be the …

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