Tag Archives: US budget deficit

US Deficit Worse Than Reported

By Andrew Busch | Published: August 20, 2010

Yesterday, the Congressional Budget Office released their estimates for the federal deficit for 2010 and it’s deceivingly ugly.

“The Congressional Budget Office (CBO) estimates that the federal budget deficit for 2010 will exceed $1.3 trillion-$71 billion below last year’s total and $27 billion lower than the amount that CBO projected in March 2010, when it issued its previous estimate. Relative to the size of the economy, this year’s deficit is expected to be the second largest shortfall in the past 65 years: At 9.1 percent of gross domestic product (GDP), it is exceeded only by last year’s deficit of 9.9 … …READ MORE

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When USA Today Speaks

By Andrew Busch | Published: May 28, 2010

While I don’t generally make it a habit to read the paper, there are times when they put out an editorial that reflects the mood of the nation. Here’s the headline, “Our view on federal spending: In Congress, ‘emergency’ is what you don’t want to pay for”. “Memo to congressional Democrats: It’s not 2008 or 2009 anymore. Then, when the nation was facing financial catastrophe, it made sense to borrow as much as necessary to stave off economic depression.” Who knew USA Today was in support of the Tea Party? The point is that the level of spending that Congress … …READ MORE

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Solving Gridlock and the Deficit

By Andrew Busch | Published: February 17, 2010

The Washington is broken chatter is in hyper-drive out of DC with the announcement by Senator Evan Bayh (D, IN) that he is retiring. Bayh was particularly critical of the partisan wrangling and animosity currently on display on Capitol Hill. Bayh stated that he loved serving the citizens of Indiana, but hated the process of making law in the Senate.

Besides making the 2010 mid-term elections a bit tougher for Democrats to retain their large majorities, the comments Bayh made on CBS’s Early Show were particularly damaging. “If I could create one job in the private sector by helping to … …READ MORE

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Inflation: What If The Unthinkable Happens?

By Andrew Busch | Published: January 19, 2010

Currently, there are two places in the world that are experiencing significant increases in prices and more may be coming. India’s Federal Chief Statistician Pronab Sen told a private television channel on Tuesday that the monthly inflation may touch double digits by March according to the Times of India. “It is really possible,” he said. India’s wholesale price index rose to 7.31% in December from a year earlier, driven by higher food prices. Processed food items rose 26.40% in December and non-processed food items increased by 19.17%. The Reserve Bank of India had only projected a 6.5% overall inflation rate … …READ MORE

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