US Debt – Patrick J. Buchanan

Barack Hussein Hoover?

April 22, 2011 by Linda

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Is the world headed for a debt crisis to dwarf the one that befell us in 2008, when Treasury Secretary Hank Paulson stood aside and let Lehman Brothers crash? No one knows for certain. As Yogi Berra said, “it’s tough to make predictions, especially about the future.” But the probability …

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Who Should Pay the Piper?

March 9, 2010 by Linda

Greece this past weekend saw the worst rioting since the debt crisis began. After Athens had announced new tax hikes and budget cuts to reduce a deficit of 13 percent of gross domestic product, mobs drove guards from Greece’s Tomb of the Unknown Soldier and attacked police.

Obama’s Problems — and Ours

February 28, 2010 by Linda

We inherited the worst situation since the Great Depression.

That is the reflexive response of President Obama to the troubles from which he has been unable to extract his country.

Even before the inauguration, he says, there were projections of a $1.2 trillion deficit for 2009. That deficit is not my deficit.

Liquidating the Empire

February 23, 2010 by Linda

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A decade ago, Oldsmobile went. Last year, Pontiac. Saturn, Saab and Hummer were discontinued. A thousand GM dealerships shut down. To those who grew up in a “GM family,” where buying a Chrysler was like converting to Islam, what happened to GM was deeply saddening. Yet the amputations had to …

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Is This How Democracy Ends?

February 19, 2010 by Linda

By Patrick J. Buchanan

“I used to think it would take a great financial crisis to get both parties to the table, but we just had one,” said G. William Hoagland, a former adviser to the Senate Republican leadership on fiscal policy.

“These days, I wonder if this country is even governable.”

Quoted in The New York Times’ lead story, “Party Gridlock Feeds New Fear of a Debt Crisis,” Hoagland nailed it.

Fat City

December 15, 2009 by Linda

“It’s time to stop worrying about the deficit — and start panicking about the debt,” the Washington Post editorial began. “The fiscal situation was serious before the recession. It is now dire.”