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Economics Archives

July 13, 2005

National Deficit Down but Intragovernmental Loan Scam Continues

WASHINGTON - Surging revenues and a steady economy have led the White House to project that this year's federal budget deficit will drop to $333 billion, nearly $100 billion below earlier estimates. "We're ahead of projections now," President Bush said Wednesday. Bush said the improving deficit picture vindicated his stewardship...
Posted by tim | Permalink

May 12, 2005

Buy a Ford (Mustang)

Ford Motor Co. chairman and chief executive Bill Ford said Thursday he will forego all compensation until the company, whose credit rating was downgraded to "junk" last week, is sustaining profitability. At the company's 50th annual shareholders meeting, Ford told about 50 shareholders that he has asked Ford's compensation committee...
Posted by tim | Permalink

May 9, 2005

Budget Surplus Follows Tax Cuts

The Treasury Department this week reported there would be a $54 billion swing from projected deficit to surplus in the April-to-June quarter, after an unanticipated gush of tax payments poured into the Treasury before the April 15 deadline. That prompted private forecasters to lower their deficit projections for the fiscal...
Posted by tim | Permalink

April 28, 2005

Trust the Government with the Social Security Trust Fund?

Toping today's news is the President's plan to change Social Security. His agenda includes the controversial proposal to give young workers the option of investing their Social Security taxes into personal accounts. Reacting to this proposal is William McNary, president of USAction, who apparently thundered, "Wall Street, keep your greedy,...
Posted by tim | Permalink

April 15, 2005

Using Your Refund Wisely

It is April 15th and I happend upon the following suggestions for those who overpaid the government last year.1. PAY DOWN DEBT. With interest rates on credit cards averaging between 13 and 14 percent, paying down your debt is one of the smartest things you can do with your refund...
Posted by tim | Permalink

February 7, 2005

Budget Surplus, What Budget Surplus?

In an article about the President's proposed budget reduction plan the Associated Press "reports" the following: Bush, who inherited a budget surplus that shifted to record deficits in his first term, wants to show Wall Street and fiscal conservatives he is serious about tackling deficits. Similar to its Democratic counterpart,...
Posted by tim | Permalink

January 25, 2005

National Deficit and Debt Continue to Grow

WASHINGTON (Reuters) - The White House has estimated that the U.S. budget deficit for 2005 will total $427 billion. "In the 2006 budget that we release on February 7, OMB will estimate that the 2005 deficit, including the outlay effects from the supplemental we are discussing today, will be 3.5...
Posted by tim | Permalink

January 17, 2005

The Deficit Shrinks, Debt Remains

Lawrence Kudlow reports in the Washington Times that the improved economy, resulting from tax breaks, has led to a decrease in the national deficit. Here's one story you won't find on tomorrow's front pages: "The U.S. budget deficit is shrinking rapidly." The headline would be accurate, but the mainstream media...
Posted by tim | Permalink

January 5, 2005

Prosperity Linked to Economic Freedom

Heritage House's 2005 Index of Economic Freedom studied prosperity and economic freedom by analyzing 50 independent variables indicative of freedom in 161 countries. The greater the level of government interference in the economy and the less economic freedom a country enjoys. Based on the index, Conservative Life observes, "There is...
Posted by tim | Permalink

November 30, 2004

Positive Economic News

Great economic news courtesy of NeophytePundit: The GDP rose 3.9% at an annual rate in the third quarter compared to 3.3% in second quarter; expected: 3.7%. Consumer spending rose 5.1% following a 1.6% increase during the second quarter. Business fixed investment rose 12.9% following a 12.5% increase during the second...
Posted by tim | Permalink

October 20, 2004

Nobel Laureates Reject Kerry's Economic Plan in Support of Free Trade

From the Arizona Republic via Instapundit: Americans will spend the next two weeks trying to sort through the differences between President George W. Bush and Democratic challenger Sen. John Kerry on many issues. But on the economic front, especially when it comes to taxes and economic growth, the president's policies...
Posted by tim | Permalink

October 18, 2004

Supply -Side Economics and the National Debt

Recently I posted two entries, here and here, on the looming national debt. ACE suggests it isn't that bad (actually, he quotes an article by Larry Kudlow published in the National Review Online). Is seems that this years $415 billion deficit came in about $100 billion less than the Office...
Posted by tim | Permalink

October 14, 2004

National Debt Reaches Legal Limit

Oct. 14 (Bloomberg) -- The U.S. government reached the $7.384 trillion legal limit on how much it can borrow, forcing the Bush administration to shuffle funds among accounts and prompting fresh Democratic criticism of the president's economic policies...
Posted by tim | Permalink

October 12, 2004

National Debt is an Unpopular Topic Among Candidates

JS Online:...
Posted by tim | Permalink

October 5, 2004

Staggering National Debt Looms

"The rich rules over the poor, and the borrower becomes the lender’s slave" (Proverbs 22:7) In the late 80s and early 90s I read several reports and a book about the looming national debt. One prognosticator said that 1995 was the year the debt would reach a crisis level. A...
Posted by tim | Permalink

October 3, 2004

Price of Gasoline - Bush's Fault?

One of the criticisms that has been leveled at Bush is that the price of gasoline has risen under his watch. In general, I don't think any president is able to manipulate the global economy the way his detractors (and supporters) often suggest. On this particular issue I found this...
Posted by tim | Permalink

June 29, 2004

Legal Plunder and the Common Good

Interesting quotes contrasting the socialistic economic philosophy of Hilliary Clinton with that of other notables. "Many of you are well enough off that ... the tax cuts may have helped you. We're saying that for America to get back on track, we're probably going to cut that short and not...
Posted by tim | Permalink | TrackBack

May 13, 2004

First Thoughts on Economic Value

The problem of economic value is unresolved and remains at the heart of economic debates. To many modern economist, value is subjectively determined by the individual – beauty is in the eyes of the beholder. This relativism leads to a measureless system of values in which goodness and satisfaction can...
Posted by tim | Permalink | TrackBack


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