Last week, President Obama revealed his plan to get Americans working again. They named it the “American Jobs Act”. A lot of what’s in it is pretty good stuff to help with the recession. You can read about it here. However there is one problem with it. At the end of the rundown, I . . . → Read More: “American Jobs Act” is Misguided
Our government collected fewer taxes in FY2009 than it did in FY2000 – this can be said without adjusting for inflation. In 2000, the government took in 1.54 trillion dollars in on-budget taxes, but only took in 1.53 trillion in 2009. This is despite spending twice as much money in 2009 than in 2000. . . . → Read More: How the 2009 Federal Budget Could Have Been Balanced.
As I mentioned before the giant increase in the 2009 budget deficit that everybody is acting so freaked out about was caused by a 400$ billion loss in tax revenue as well as an almost 562$ billion increase in outlays. Where did all that money go? A lot of that extra spending was made . . . → Read More: Banks come first, then the poor, then maybe the economy