The Wall Street Journal on the national deficit: At $1.47 trillion, the federal deficit this fiscal year exceeds all defense and nondefense spending at Congress’s discretion by $110 million. In other words, lawmakers could eliminate the entire military, all federal education, agricultural, housing programs, federal prisons, the Central Intelligence Agency, Federal Bureau of Investigations, Coast […]

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Fannie Mae: Who gives a shit that we are underwriting loans for people who may be taking on too much debt? We certainly don’t. I mean, it’s only taxpayer money.

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Austerity. Fucking. Works. Los Tiempos de Nueva York: Germany has sparred with its European partners over how to respond to the financial crisis, argued with the United States over the benefits of stimulus versus austerity, and defiantly pursued its own vision of how to keep its economy strong. Statistics released Friday will buttress the German […]

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The New York Times: Some lawmakers say that the current mood could be an aberration and that the spending pendulum could just as rapidly swing back. Let’s hope not.

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Elizabeth Warren, chair of a panel designed to oversee TARP fund allocation, on how responsible the Treasury Department has been: The point we make forcefully in this report is that there were no data about where this money was going, no information about where this money was going [. . .] Why is it again […]

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hereby formally and with a full commitment, declare full scale class warfare on those whom we deem make more money than they deserve, and will strive to coerce it from them and give it to those who vote for us in order that we maintain our power. If we fail, we will, however, continue to […]

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All the federal government needs to do is dangle “free” cash for long enough, and eventually, states, even those who vowed not to accept more cash, will cave in. Los Times: Mr. Sanford joined several other governors who had initially expressed hesitation about the money but later relented, including Dave Heineman of Nebraska and Sonny […]

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Government: facilitating debt is our middle name.

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Yeah, New York City has definitely used all of their budget gimmicks which the Times has been talking about. To critics of Mr. Bloomberg’s efforts to extend term limits, including some candidates who had prepared to run for mayor, the Doe Fund officials’ appearance [on Bloomberg’s behalf] amounted to a clear conflict of interest. For […]

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The terminally libertarded and their press hacks have a serious disconnect with reality. They see the lack of tax revenue as a great injustice, and write about the poor souls who are suffering due to our unwillingness to pay their way through life. The length of the downturn means that many places have used up […]

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