U.S. Budget Deficit Narrows To 5-Year Low On Record Revenue

| October 30, 2013

Surprised as we are, somehow we don’t think it was employment gains that powered this giant revenue collection….capital gains taxes would make more sense being that stock markets are at all time highs! Bloomberg: The U.S. posted its smallest budget deficit in five years as employment gains helped propel revenue to a record. Spending exceeded receipts […]

Fiscal Cliff’s And Slippery Slope’s

| November 19, 2012

Cumberland Associates has this perspective about the world wide slippery economic situation, and failed post-retirement promises made to a trusting populace. Let us get back to the difference between the US and Europe. European peripheral countries waited too long.  Now they cannot fund the promises that they made for retirement and post-retirement benefits, and so they have to […]

The 2013 AMT Tax Nightmare Could Hurt Tens Of Millions Of People

| November 15, 2012

This from Bruce Krasting: The Wall Street Journal reports this morning that President Obama is going to ask for $1.6T in new taxes when he speaks on Friday. The only way that this sized tax increase could be accomplished is if the AMT (Alternative Minimun Tax) is indexed to inflation and hits tens of millions of […]

Here Comes The Cliff…Or Is It A Canyon Wall?

| May 23, 2012

Warning from the Congressional Budget Office…don’t raise taxes! The Congressional Budget Office warned that the country could be thrown into a recession if Congress tries to reduce the nation’s deficit quickly with a combination of budget cuts and higher taxes scheduled to take place at the end of the year. The nonpartisan budget office laid […]

Illinois Looks Like A Sinking Ship

| April 23, 2012

So, the revenue grows but the ship still sinks….Inquiring minds want to know how it can be fixed? In Illinois, the backlog of unpaid bills has risen to more than $9 billion because of pension costs and falling federal aid, leaving the state “essentially treading water,” Comptroller Judy Baar Topinka said. While revenue grew from higher […]

A Sign Of The Times…Or Is It The New Normal?

| February 25, 2012

Part of this is demographics.  www.frontlinethoughts.com

California January Tax Revenue Well Below Estimate By $528 Million

| February 10, 2012

So, Governor Brown, what happened to the big recovery  you were expecting…and how about the giant consumer spending binge of the last two months fueled mostly on credit……just asking?  This is a disaster to the state budget. Spending up as reflected in sales taxes, while income is down, relected in income taxes. California collected $528 million less in […]

Sometimes The Best Ideas Are Also The Simplest…Fire Them All, Then Start Over With A New President And A New Congress

| July 15, 2011

President Barack Obama said deficit-cutting talks are running out of time, and dismissed the plan that House Republicans will promote as not serious. The House plans to vote July 19 to  increase the debt ceiling, but wants it tied to approval of a balanced-budget amendment. The Democrats have a back up proposal that would grant Obama authority to raise the debt limit in […]

Mayors See Little Recovery Amid Cutbacks

| June 18, 2011

So, what does the federal government say about all of this?…….Uh, we never promised anyone a Rose Garden! Bloomberg: Little Rock, Arkansas, has stopped replacing aging police cars. Mesa, Arizona, is losing $5 million a year from thousands of vacant homes that aren’t paying utility bills. Providence, Rhode Island, closed schools, fired teachers and may cut […]

More Entitlements Then Ever….The Free Lunch

| September 14, 2010

Nearly half of all Americans live in a household in which someone receives government benefits.  This is more than at any time in history. Making matters even worse, the number of American households not paying federal income taxes has also grown—to an estimated 45% in 2010, from 39% five years ago, this according to the Tax Policy Center.   […]

Swine Flu Spreading at ‘Unbelievable’ Rate: WHO…..This Could Take The Economies Of The World Down Faster Then Derivitives Did

| August 30, 2009

Swine Flu Spreading at ‘Unbelievable’ Rate: WHO PARIS — Swine flu spreads four times faster than other viruses and 40 percent of the fatalities are young adults in good health, the world’s top health official warned in an interview appearing Saturday. “This virus travels at an unbelievable, almost unheard of speed,” World Health Organisation Director […]

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