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: Spending

Congress Votes to Raid Fed’s Slush Fund to Pay for Highways

This article appeared online at TheNewAmerican.com on Monday, November 23, 2015:  

In its never-ending quest to spend money it doesn’t have, but not wanting to raise taxes, especially during the current election cycle, on Thursday, November 5 Congress passed a $325-billion, six-year transportation bill that is to be financed by selling off some of the country’s strategic petroleum reserves and raiding the Federal Reserve.

In its editorial complaint about the bill, the Washington Post said

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Democrat Strategy to Take Back the Senate: Attack the Koch Brothers

This article appeared online at TheNewAmerican.com on Friday, November 20, 2015:  

Upon learning that the Koch brothers, Charles (shown) and David, and their network of conservative donors, were planning on spending upwards of $750 million over the next two election cycles, Harry Reid, the Senate minority leader and harsh critic of the Kochs, enlisted the help of two hard-left political strategists to respond. David Brock, the founder of Media Matters in 2004 and the super-PAC American Bridge in 2010, joined with Geoff Garin, president of Hart Research Associates, to build a plan for Democrats to take back the Senate in 2016.

Brock investigates strategy via focus groups while Garin

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Recession Indicators: Pick one

This article was published by The McAlvany Intelligence Advisor on Wednesday, November 18, 2015:

As a general rule a recession is two quarters of negative growth (aka decline) in the country’s gross domestic product (GDP). GDP, in simplest terms, is a measure of industrial production, employment, real (inflation-adjusted) income, and wholesale and retail trade.

The trick is knowing when a recession is coming. Even trickier is knowing what to do about it beforehand.

The Bureau of Economic Analysis (BEA) said GDP

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More Signs the Economy Is Slowing

This article appeared online at TheNewAmerican.com on Tuesday, November 17, 2015:  

The latest Empire State Manufacturing Survey issued by the New York Federal Reserve Bank on Monday confirms an increasingly ominous economic trend: The fourth consecutive monthly decline in its index is the longest since early 2009.

Its authors didn’t even try to sugarcoat it:

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Fourth Republican Debate: Feisty, Hilarious, Little Change in Polls

This article appeared online at TheNewAmerican.com on Wednesday, November 11, 2015:  

A more orderly and respectful atmosphere surrounded the fourth Republican debate on Tuesday night, a sharp contrast to last month’s debate where the moderators became the issue. That didn’t mean there were no fireworks, or disagreements, just that the tone was more serious, as the candidates tried to shore up their positions and their poll numbers as they approached the final debate in December.

The topics included questions on

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Republican Debate: Rubio, Cruz, Trump Rocked; CNBC Got Mocked

This article appeared online at TheNewAmerican.com on Thursday, October 29, 2015:

John Harwood, one of the trio of CNBC moderators of the third Republican debate held Wednesday night in Boulder, Colorado, set in motion the evening’s tone and tenor with this condescending question of Donald Trump:

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How the Establishment Does Business in Washington

This article was published at The McAlvany Intelligence Advisor on Wednesday, October 28, 2015: 

English: U.S. President Barack Obama meets wit...

Just a visit between old friends

In Washington, it is said that laws are like sausages: no one wants to know exactly how they are made. Washington, controlled as it has been by the Establishment for decades, makes laws like sausages, keeping everyone in the dark and happy, except the taxpayer.

Just who is this ephemeral, invisible, ever-present establishment? In three minutes, a caller to Rush Limbaugh’s radio show on September 15, nailed it:

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Boehner Cuts Deal With White House; National Debt to Reach $20 Trillion

This article appeared online at TheNewAmerican.com on Tuesday, October 27, 2015:

After working privately over the past several weeks with members of the White House staff, as well as with Nancy Pelosi (D-Calif.), Mitch McConnell (R-Ky.), and Harry Reid (D-Nev.), House Speaker John Boehner succeeded late Monday night in cobbling together a deal that gives everyone in Washington what they want but leaves the bill for the taxpayer. By the time the dust settles, the deal will cause the country’s national debt to reach $20 trillion within the next 18 months, if not sooner.

Doing an end run around usual House procedures, Boehner

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Is Now the Time to Buy Walmart Stock?

This article was published by The McAlvany Intelligence Advisor on Friday, October 16, 2015:  

English: Exterior of a Wal-Mart Supercenter in...

Exterior of a Wal-Mart Supercenter in Madison Heights, Virginia.

Walmart (WMT) hit 90 in early January, and hasn’t come close since. On Tuesday this week it traded at 67, just before the company’s announcement that shook the markets. Following that announcement the stock traded at 60, down 10 percent on the day and 30 percent from January.

Pundits leaped on the news, claiming that

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Federal Deficit at Eight-year Low; Don’t Celebrate Yet

This article appeared online at TheNewAmerican.com on Friday, October 16, 2015:  

On Thursday the Treasury Department announced that the federal deficit for the 2015 fiscal year, which ended September 30, fell to an eight-year low — $439 billion — thanks to tax revenues that grew at a rate faster than government spending. Revenues, according to the department, grew by eight percent over last year while government spending grew by five percent.

Treasury Secretary Jacob Lew celebrated:

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Walmart’s Stock’s Selloff Hinges on Perceived Economic Gloom

This article appeared online at TheNewAmerican.com on Thursday, October 15, 2015:  

English: Inside the Walmart (still branded as ...

Inside the Walmart at West Plains, Missouri.

Within minutes of Walmart’s announcement  on Wednesday that the world’s largest retailer would see its profits drop between six and 12 percent next year, the company’s stock started a decline that only ended after it had lost 10 percent of its value, its worst single-day performance in 37 years.

Despite a previous warning from Walmart in August that its quarterly profits, year-over-year, would likely fall by 15 percent, and despite the company’s stock continuing its decline from $90 a share in January to $67 before the announcement, investors were caught off guard. Now trading below $60 a share, investors have seen the value of their Walmart holdings drop

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Does California Have a Death Wish?

This article was published by The McAlvany Intelligence Advisor on Thursday, October 8, 2015: 

Cato Institute

A year ago, when the Cato Institute published its Fiscal Policy Report Card on America’s Governors, the best governor, Pat McCrory of North Carolina, scored 78, giving him an “A” rating by Cato. The country’s worst governor, Jerry Brown of California, scored 19, earning him an “F.” His rating was seven full points behind Colorado’s Governor John Hickenlooper, who scored a 26. At the time, Cato said this about Governor Brown:

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Freedom to Choose Includes the Freedom to Move

This article was published by The McAlvany Intelligence Advisor on Friday, September 11, 2015: 

Free to Choose

Milton and Rose Friedman published their work Free to Choose – A Personal Statement 35 years ago when it became a best seller, topping best seller lists for five weeks. Ten years later PBS created a telecast with Dr. Friedman interviewing, and often debating, experts from across the political spectrum, including Walter Williams on the right and Frances Fox Piven on the left.

In the video chapter “The Power of the Market” Friedman makes the point that the free market’s greatest benefit is the power of options: where to live, where to work, whom to marry, how to worship, and on and on.

Walter Wriston, considered by many to be the single most influential commercial banker of his time, serving as chief executive of Citibank from 1967 to 1984, condensed Friedman’s chapter into one pithy quote that reverberates today:

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Public Pension Plans Cut Rate of Return Targets; Still Not Enough

This article appeared online at TheNewAmerican.com on Monday, September 7, 2015:  

Twenty million pension plan beneficiaries have just been warned: You won’t be getting what you have been promised when you retire. Part of the reason is that pension managers have been far too optimistic in estimating what they are able to earn on your money. And part of the reason is that they continue to remain so.

In its analysis of 126 public pension plans, the National Association of State Retirement Administrators (NASRA) noted that more than two-thirds of them have reduced their estimates, however slightly, since 2008, while 39 of them are still stuck

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Social Security Disability: Reaching the End of the road?

This article was published by The McAlvany Intelligence Advisor on Friday, July 24, 2015:  

Social Security Poster: old man

Buried in the annual exclamations of urgency by the trustees of the Social Security system issued on Wednesday was this warning: action by Congress will “give the public adequate time to prepare.” In the short run, some 11 million on Social Security Disability will learn that their benefit checks will drop by $200 a month starting next fall, so they need to get used to that. In the long run everyone receiving anything from the celebrated Ponzi scheme will see their checks go to zero:

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Greek Vote the Death Knell for the EU?

This article was published by The McAlvany Intelligence Advisor on Wednesday, July 8, 2015:  

English: Nigel Farage at Lord's cricket ground...

Nigel Farage

Nigel Farage, named “Briton of the Year” in 2014 by the London Times, has finally found his voice. He noisily departed the Conservative Party in 1992 after the signing of the treaty that created the European Union to start his own UK Independence Party (UKIP). His criticism of the EU has been steady ever since, culminating in his eulogy on Monday: “The European Union is Dying Before our Eyes.”

According to Farage, Sunday’s referendum in Greece sealed its death warrant, even if somehow the Greek PM Alexis Tsipras is able to come to terms with the troika and have them turn on the financial spigot once again: “It [was] a crushing defeat for those Eurocrats who believe that you can simply bulldoze public opinion.” He added,

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Greece-EU Standoff Increases Chances of “Grexit”

This article appeared online at TheNewAmerican.com on Tuesday, July 7, 2015:  

UK Independence Party

Writing in London’s Telegraph on Monday, Nigel Farage, the leader of the anti-EU, pro-sovereignty UK Independence Party (UKIP), called Sunday’s referendum in Greece “a crushing defeat for those Eurocrats who believe that you can simply bulldoze public opinion.” Threats by those Eurocrats to shut off emergency financing unless the country agreed to its terms fell on deaf ears, especially among those under age 35: Eighty percent of them voted no on Sunday.

That cohort is the one least likely to remember the songs that were sung by those promoting the European Union decades ago:

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Greeks Shout “NO!”

This article was published by The McAlvany Intelligence Advisor on Monday, July 6, 2015:  

Greek citizens shouted “No!” to further austerity measures for the hapless country in exchange for more of what got it into trouble in the first place: other people’s money. The lopsided 60-40 vote astonished telephone pollsters, who predicted a much narrower victory for Greek Prime Minister Alexis Tsipras of the far-left Syriza party. Although the issues were far more complicated than the referendum made it appear, the 68-word ballot question made it easy: do you want more increases in taxes, more cuts in pension benefits, another increase in the VAT … or not?  Translated into English, the ballot read:

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OECD Issues Pessimistic Forecast for France

This article appeared online at TheNewAmerican.com on Wednesday, June 24, 2015: 

The OECD — the Organization for Economic Cooperation and Development — put the best face possible on France’s declining economy in its just-released forecast. The report was full of optimism about the future but admitted that the present reality is discouraging. Note the use of words “projected” and “should” in its opening paragraph:

Economic growth is projected to gain momentum in 2015 and 2016. Lower energy prices, improving financial conditions, slowing fiscal consolidation, strengthening external demand and a pro-competitive reform agenda should underpin an increase in consumption and export volumes.

But the reality is far different, said the OECD: 

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U.S. Financial Outlook has “Worsened Dramatically”

This article first appeared online at TheNewAmerican.com on Wednesday, June 17, 2015: 


This graph is outdated but revealing


In its just-released report “The 2015 Long-Term Budget Outlook,” the Congressional Budget Office stated bluntly:

The long-term outlook for the federal budget has worsened dramatically over the past several years, in the wake of the 2007-2009 recession and slow recovery…. If current law remained generally unchanged in the future … growing budget deficits … would push [the national] debt above its current high level.

It’s all about government spending that’s baked into the cake:

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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.

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