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The Federal Debt Trap: Issues and Possible Solutions
“Rather than collecting taxes from the wealthy,” wrote the New York Times Editorial Board in a July 7 opinion piece, “the government is paying the wealthy to borrow their money.” Titled “America Is Living on Borrowed Money,” the editorial observes that over the next decade, according to the Congressional Budget Office (CBO), annual federal budget […]
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Steering the Titanic into the Iceberg
Patty Chayefsky’s film Network, an acid-laced spoof of capitalist media, reaches its climax when Chairman Arthur Jensen, leader of the fictional mega-corporation CAA, thunders his disapproval to the crazed but wildly popular anchorman, Howard Beale. Encouraging his viewers to protest CAA’s unpatriotic merger deal with Saudi Arabian capitalists, Jensen accuses Beal of having “meddled with […]
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Australia, Biden, and Cancelling the Quad Visit
Much needless fuss has been generated by President Joe Biden’s cancellation of his visit to Australia for the Quad meeting, a now regular gathering of leaders from the US, Japan, India and Australia. He had other things on his mind: dealing with fractious debt ceiling negotiations taking place back in the United States. Students of […]
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The Sadistic GOP’s Debt Limit Ploy vs. the People
Raising the federal debt limit over the years has secured unconditional routine Congressional passage and was endorsed by presidents Ronald Reagan and Donald Trump. After all, it allows the U.S. Treasury to pay past and existing bills, not expand future spending. Routine, that is, until the recent arrival of the mad-dog Republicans with their monetized […]
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