Entries Tagged 'Government Spending' ↓

“Given our 2.7 million-strong federal work force, the government effectively overbills Americans by almost $40 billion every year just on labor costs.”

- ANDREW G. BIGGS AND JASON RICHWINE

“Fortunately, the very severity of the pending crisis and growing analogies to Greece set the stage for a serious response.”

- Alan Greenspan

“And the cause of the second dip is not the recession itself, but the cure administered to it by President Obama and the Democratic Congress.”

- Dick Morris

- John Stossel

“In 2011, we may well experience the same kind of international jitters that now bedevil Greece and find our hand forced by an international consensus just as Athens’ has been.”

- Dick Morris

“According to the Social Security and Medicare trustees, Social Security has made $17.5 trillion in future promises that it has no money to fulfill. Add to this amount Medicare’s unfunded liabilities of $89.3 trillion, and the grand total is $106.8 trillion. That means each household’s share of current and future debt is a staggering $1.1 million.”

- Washington Times

“Ken Rogoff of Harvard and Carmen Reinhart of Maryland have studied the impact of high levels of national debt on economic growth in the U.S. and around the world in the last two centuries…they conclude that, so long as the gross debt-GDP ratio is relatively modest, 30%-90% of GDP, the negative growth impact of higher debt is likely to be modest as well. But as it gets to 90% of GDP, there is a dramatic slowing of economic growth by at least one percentage point a year…The Obama budget takes the publicly held debt to 73% and the gross debt to 103% of GDP by 2015, over this precipice.

Mr. Obama’s fiscal strategy is more akin to the voyage of the Titanic. Let’s hope he changes course soon enough to prevent disaster.”

- MICHAEL J. BOSKIN, professor of economics at Stanford University

Coburn Amendment # 3303:

“To rescind $120 billion in Federal spending by consolidating duplicative government programs, cutting wasteful Washington spending, and returning billions of dollars of unspent money.”

The January 26, 2010 Vote Count:

YEAs    46
NAYs    48
Not Voting    6

NAYs and Not Voting: