Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Deficit

Obama, Dems Slip Sharply in Polls

Tea Party Protest, Washington D.C., September ...

Nearing the end of his first year in office, President Obama and his Democratic Party are taking a beating in polls by NBC News/Wall Street Journal and the Washington Post/ABC.

After defying the laws of political gravity for much of his first term, Obama and his party’s poll numbers are starting to reflect increasing public unhappiness over the economy, healthcare, and Afghanistan.

For the first time in his presidency, Obama’s overall approval rating has fallen below 50% to 47%. More of those polled also see the Democrat party in a negative light, and believe the country is “on the wrong track”, with a negative 55% rating, the highest since inauguration.

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Paul Samuelson, ‘Economics’ Textbook Author, Dies at 94

Photo of Paul Samuelson

Long-renowned economist Paul Samuelson died on December 13 at his home in Belmont, Massachusetts, at the age of 94. In addition to writing Economics in 1948 — which became the best selling economics textbook for several decades, having been translated into forty-one languages and selling over four million copies — Samuelson also won the Nobel Memorial Prize in Economic Sciences in 1970.

The chorus of accolades of effusive praise continues to resonate:

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Double Dip Recession Coming?

Double Dip Package

If Will Rogers didn’t say “Those who don’t read the papers are uninformed; those who do are misinformed,” he probably should have.

Witness this headline from The Wall Street Journal: “Jobs, Spending Bode Well for Growth.”

Compared to this from Bloomberg: “Orders for Durable Goods in U. S. Unexpectedly Fall.”

Or this from APNews: “Jobless claims off, spending up in sign of rebound.”

Finally, to confound the confusion, see this from the Denver Post: “Good news raises hopes that recovery won’t fizzle.”

How does one make any sense of it all? Dr. Kenneth McFarland (named America’s Number One Public Speaker by the U. S. Chamber of Commerce in 1965) once quipped that he had read so much about the harmful effects of tobacco and alcohol that he just decided to give up reading!

There is another option: dig deeper.

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The National Debt: How Soon Before Uncle Sam Cries “Uncle?”

 

Uncle Sam with empty treasury, 1920, by James ...

When Bob Schieffer of NBC News asked the rhetorical question: “…has going a trillion dollars in hock to one country [China] made us more secure?”, he was reminded of Everett Dirksen (Illinois Senator for nearly 20 years) and his famous comment: “…a billion here and a billion there and pretty soon you’re talking about real money!”.

The current account deficit, at the present moment, is over $12 trillion and climbing. About half of that debt is owned by foreign countries, most notably China (about $800 billion) and India (about $300 billion), with the balance owned by Japan, Germany, and others.

So what’s the big deal?

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Inflation? What inflation?

Huff and puff and...

Image by gorbould via Flickr

We dont have to hire historians to see where deficit spending will take us. We have only to look around now. Since the end of World War II, some of history’s greatest national disasters have taken place right here in the Americas. North Americans used to laugh or shake their heads at the economies of the south that seemed always on the brink of collapse.  Banana republics, we derisively called them. We’re not laughing now.

Here are some examples he provides of inflation lag time:

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.