Tag Archives: Debt Ceiling

The End of Fiscal Discipline

September 30, 2016 marked the end of another Federal Government fiscal year and with it the Federal Debt jumped $1.3 Trillion; in a mere 12 months. Yes, it is true that Congress hasn’t managed to deliver the required Budget Resolution since 2009 and though President Obama is complicit in the failure he’s not entirely to blame; Congress, however, is.

Setting aside the Budget for the moment, understand the nearly 25% of annual Federal Government Spending is actually not even part of the Budget. From military expenditures for various foreign policy ventures to special funding vehicles for disasters and on to off-book “black-ops” spending to any number of scheduled or unscheduled handouts there seems to be no shortage of spending opportunities.

Posted in Geo-Finance, Poli-Econ | Tagged , , , | Leave a comment

ON AIR with Host Mike Miller of WIMA 1150

The Foundations Weekly On-Point Series continues with Host Mike Miller of 1150 WIMA in Lima, Ohio and Policy Analyst, Curtis Greco. This week features – “What Happened to the Debt Ceiling? Gone the way of reason.”  This vignette appears throughout the week during Michael’s 6-9Am (ET) Show. Ohio’s In-Tune & In-Touch Host, catch him Live in-market or online at www.1150wima.com.

Posted in On Point | Tagged , , | Leave a comment

The 20 Trillion Dollar Man! Debt Ceiling Increase or Debt Limit Suspension?

Yes, President Obama will forever be known for doubling the public debt and so will Congress. The current Budget Deal may seem like, as the President says, “…how Congress should work” however, the truth is far more devastating.

Yes indeed, the current Budget Deal provides Federal Funding and it does so by eviscerating the Debt Ceiling mandate providing the U.S. Treasury unlimited borrowing capacity thru March of 2017. Considering the planned spending increases of nearly $160 Billion, not including Off-Book spending ventures and projected Budget Shortfalls, the simple math indicates debt increases for the advancing spending term to be in the 1.5-1.7 Trillion dollar range.

Posted in Poli-Econ | Tagged , , , | Leave a comment

Debt Ceiling Debate No More

Having gone unnoticed is the now silent political contest over the Debt Ceiling. Concurrent with the advent of the Obama Administration and along with it the explosion in Federal Debt, the Debt Limit argument has become a perennial event.

The sudden switch to apathetic political resolve has many reasons & the key elements are:

(1) The Temporary Debt Limit Extension Act (2/2014) that “suspends” the Debt Ceiling.

(2) Sequestration which, in part, has capped certain elements of the Budget.

(3) Political realities have taught the Republicans (and the Democrats) that forcing government shutdowns brings with it a near un-survivable political price.

Posted in Poli-Econ, Poli-Philos | Tagged , , | Leave a comment

Debt Ceiling: Americans, Buy Your Bitcoins!

Does anyone find it strange that Boehner isn’t backing an objection to the debt-ceiling hike? Where are Rand Paul, Ted Cruz, John McCain, Mitch McConnell, the ever so fiscally conscious Charlie Schumer and his spry acolyte, Pat Leahy? Have they nothing to offer?

It’s called the “Default Prevention Act of 2013” and it brought an end to fiscal propriety in Washington; now the President, with a stroke of a pen, can suspend the debt-ceiling at any time to avoid default and challenged only by way of an “untitled” (often done to conceal its nature and intent) joint resolution by both Houses of Congress. So you see, even in the face of economic disaster Congress has chosen to abdicate its fiscal authority preferring instead to continue the march toward economic destruction while assuring the public, with great sincerity, that they have your best interests at hand.

Posted in Poli-Finance | Tagged , , | Leave a comment