Category Archives: National Debt

The Digital Sovereign or SOV

By Patricia L Johnson and Richard E Walrath Most of us have heard of “Bitcoin”, but how many of us know anything at all about the SOV?  The SOV is a cryptocurrency soon to be released by the Republic of … Continue reading

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The Budget and Economic Outlook: 2015 to 2025 | Congressional Budget Office

The Budget and Economic Outlook: 2015 to 2025 | Congressional Budget Office. Note from P.L. Johnson The budget deficit for FY 2015 is estimated to come in at $468 billion, which is calculated at 2.6% of GDP and will be the lowest … Continue reading

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Republicans at Work – NOT Taking Care of Business

By Patricia L Johnson and Richard E Walrath Following is an excerpt from a letter written February 7, 2014 to John A. Boehner, Speaker of the House from Department of Treasury Secretary, Jacob J. Lew. “As you know, the Continuing … Continue reading

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President’s Budget of the U.S. Government FY2014

Budget of the U.S. Government.

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Transcript And Audio: Vice Presidential Debate : NPR

Transcript And Audio: Vice Presidential Debate : NPR.

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Outside Spending for 2012 Election

Outside Spending | OpenSecrets.

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DNC 2012: Bill Clinton’s speech at the Democratic National Convention (Full transcript) – The Washington Post

DNC 2012: Bill Clinton’s speech at the Democratic National Convention (Full transcript) – The Washington Post.

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Are the Republicans Really Going to Renege?

Opinion by Patricia L Johnson When it comes to politics, voters have many different levels of interest, so I’ll only list a few. We have voters that spend a considerable amount of time paying attention to what goes on in … Continue reading

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Congressional Budget Office – Budget and Economic Outlook: An Update

Congressional Budget Office – Budget and Economic Outlook: An Update.

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Does the Tea Party owe approximately $378 Million in Interest?

By Patricia L Johnson The consequences of default on U.S. Government obligations would be so horrific that U.S. law allows the Treasury Department to utilize various methods to avoid default, including suspending investments into the Civil Service Retirement and Disability … Continue reading

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CBO COMPARISON OF UPDATED BUDGET CONTROL ACT PROPOSALS

Source: CBO

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Two Years – The length of their term, and their level of maturity

By Patricia L Johnson and Richard E Walrath Another day and nothing in sight yet that looks like it might be an end to the debt ceiling argument. The economy keeps getting worse which is exactly what the Republicans want … Continue reading

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You can lead a Horse to Water, but you cannot make it Drink, Write a Letter or Make a Call.

By Patricia L Johnson and Richard E Walrath You voted the Republicans in – now vote them out. We don’t need a National election for you to tell the GOP what you think of their refusal to increase the debt … Continue reading

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Toward An Understanding of the Effects of Natural and Man-made Disasters on Unemployment and GDP -Or- Blame it All on Einstein

By Patricia L Johnson and Richard E Walrath The massive earthquake registering 9.0 on the Richter scale struck Japan on March 11, 2011 and was followed by a gigantic tsunami causing untold damage resulting in the meltdown of three nuclear … Continue reading

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“Un bon croquis vaut mieux qu’un long discours,”

By Patricia L Johnson The above quote translated from French into English reads “A good sketch is better than a long speech” and is supposedly attributed to Emperor Napoleon Bonaparte 1769-1821. I can’t confirm whether or not he said it … Continue reading

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Only the Shadow Knows

By Richard E Walrath and Patricia L Johnson Jon Huntsman, former Governor of Utah and former Ambassador to China, announced his candidacy for the 2012 Republican presidential nomination on June 21, 2011 with the Statue of Liberty in the background. … Continue reading

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Summary of Misleading Facts from FactCheck.org on GOP Debate

“Summary In the first New Hampshire debate among 2012 presidential hopefuls, we found a number of incorrect, misleading or shaky factual claims: Pawlenty was wrong when he boasted that he was “one of the few governors” to respond to a … Continue reading

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Now Is the Time to Call In the No Interest Loans

By Richard Walrath and Patricia Johnson Speaker of the House, John Boehner (R-OH) made the following statement on May 5, 2011, “Nothing is off the table except raising taxes”, as quoted on the speaker’s blog . The comment was made in … Continue reading

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Budget Talks Eye $1 Trillion in Cuts

Wall Street Journal “By JANET HOOK And COREY BOLES WASHINGTON—White House and congressional officials said Tuesday that they were moving closer to a budget deal that would make a “down payment” of more than $1 trillion in cuts to federal … Continue reading

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What is the Debt Subject to Limit?

Opinion by Patricia L Johnson The Debt Subject to Limit is “the maximum amount of money the government is allowed to borrow without receiving additional authority from Congress”, not to be confused with the deficit. The deficit is the fiscal … Continue reading

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Facts Behind Current U.S. Deficit

Opinion by Patricia L Johnson You know how it works, in one hand you have your checkbook showing your last deposit and in the other hand a stack of bills. You see the advertisement on TV showing just how many … Continue reading

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In the News – Financial Crisis Inquiry Commission

The Financial Crisis Inquiry Commission released its final report on January 27, 2011. The Commission was formed in May of 2009 as part of the Fraud Enforcement and Recovery Act, Public Law 111-21. The 10 Members of the Commission consist … Continue reading

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In the News – State of the Union

Opinion by Patricia L Johnson The Federal government of the United States consists of three branches, the Executive, Judicial and the Legislative. Article II, Section 3 of the U.S. Constitution requires the President to provide Congress with information on the … Continue reading

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Note to GOP – Creating Babies is NOT the Same as Creating Jobs

Republicans were put back in control of the House partially based upon their promises in their “Pledge to America”. You only have to read 271 words into the pledge to come to the following statement, which is the first time … Continue reading

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A $145 Billion Increase to Deficit?

An opinion by Patricia L Johnson Determining whether or not a particular bill will be beneficial to this country generally begins with a request to the Congressional Budget Office [CBO] to determine costs involved and budget impact. In March of … Continue reading

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GOP Definition of “Cut Spending”

An opinion by Patricia L Johnson The GOP’s Opening Argument: Cut Spending, Cut Spending, Cut Spending is an article written on January 3, 2011, by Derek Thompson and published in the Business section of The Atlantic. Thompson confirms what we … Continue reading

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What would Warren Buffett say to the National Commission?

By Patricia L Johnson and Richard E Walrath President Obama’s Executive Order of February 18, 2010 established the National Commission on Fiscal Responsibility and Reform whose mission includes: “identifying policies to improve the fiscal situation in the medium term and … Continue reading

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What Was the Intent of Our Founding Fathers on Taxes for the Rich?

By Richard E Walrath and Patricia L Johnson The very first year the U.S. began taxing there were 7 tax rates beginning with the minimum tax rate of 1% and a maximum tax rate of 7%. It appears our founding … Continue reading

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U.S. House Says NO to Extended Unemployment Compensation

The final vote on the Emergency Unemployment Compensation Continuation Act took place at 2:01 pm on November 18, 2010.  The following members, almost all Republicans, voted “Nay” which made it impossible for the bill to pass: Aderholt Akin Alexander Austria … Continue reading

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Yeah or Nay on Earmarks?

By Administrator Senate Republican Leader Mitch McConnell (R-KY) stated on November 15, 2010: “…today I am announcing that I will join the Republican Leadership in the House in support of a moratorium on earmarks in the 112th Congress…” Seems this … Continue reading

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Do You Really Want to Know About Tax Cuts?

An opinion by Patricia L Johnson New legislation will be required in order to extend the tax cuts put into place by President G.W. Bush in 2001 [PL 107-16], otherwise they will expire at midnight on December 31, 2010. Recently … Continue reading

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Deficit Chart

(Click Chart to enlarge) The above chart represents deficit increases by year, based on legislative changes that applied to that particular year.  During the period of FY 2001 through FY 2009, legislative changes increased the U.S. Deficit by 5.4 trillion … Continue reading

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If the Economy Was Any Better, We Couldn’t Handle It

January 24th, 2007 By Richard Walrath  How many years has it been now that we’ve heard daily about how “good” the economy is? Why is it, then, that $3 T — that’s three trillion dollars — has been added to … Continue reading

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