The sequester officially arrives today when $85 billion in automatic cuts to the federal budget take into effect. President Barack Obama, the Democratic leadership and the mainstream media believe the sequester is the apocalypse, while the Republicans believe it’s a gift from God to fiscal prudence. Economic Collapse News just reported that some analysts believe […]
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Democrats in Congress complain about national debt clock on Capitol Hill
It seems California Democratic Congresswoman Maxine Waters and Illinois Democratic Congressman Keith Ellison would like to completely forget about the enormous $16.5 trillion national debt. During a House Financial Services Committee hearing Tuesday on the budget, both left-leaning representatives grieved that the national debt clock on Capitol Hill is nothing more than a “political prop” […]
Ben Bernanke proves why the Federal Reserve should be abolished
Federal Reserve Chairman Ben Bernanke delivered testimony to the Congress on Tuesday. It was an interesting speech because it just proved how incompetent he is and how the entire central banking system is flawed and a total failure. In his remarks, he discussed how low interest rates are benefiting the economy, the sequester (spending cuts) […]
Rand Paul returns $600,000 of unspent money to the U.S. Treasury
Kentucky Republican Senator Rand Paul announced in a press release last week that he will be writing a $600,000 check to the United States Treasury Department as part of his operating budget that was not spent. According to the figures, the $600,000 sum is more than 20 percent of his operating budget. It was revealed […]
Daily chart shows how long it takes to become a millionaire
The Economist published an interesting chart Tuesday that depicts how long it takes to become a millionaire in several OECD countries. The chart showed that the United States (using pre-tax data) creates the most amount of millionaires in the fastest time, while Norway, Switzerland, Australia and Denmark rounded out the top five. At the bottom […]