Trading Alone - US budget deficit drops to US$296 billion

featuring Jagdish Bhagwati

Trading Alone - US budget deficit drops to US$296 billion

Tue Jul 11, 2006 11:44

Trading Alone
featuring Jagdish Bhagwati (MP3 )
http://www.cato.org/dailypodcast/jagdishbhagwati_tradingalone_20060710.mp3

What's New
State and Local Government Debt Is Soaring

It is well-known that the federal government is amassing large amounts of debt, but state and local governments are piling up debt as well. Citizens need to remember that government debt simply represents deferred taxes and charges, and they will have to bear the burden sooner or later. In the latest Tax & Budget Bulletin, "State and Local Government Debt Is Soaring," Cato scholar Chris Edwards offers recommendations for reducing debt loads, including pay-as-you-go financing for infrastructure.
http://www.cato.org/

Bush to herald improved deficit figures
San Jose Mercury News - 6 hours ago
WASHINGTON - The budget deficit won't be as bad as President Bush predicted earlier this year. A surge in taxes paid by corporations and the wealthy promises to bring the budget deficit to less than $300 billion ...
Tax Cuts, Budget Deficits and the Economy Yahoo! News
Surprise jump in tax revenues trims deficit Indianapolis Star
TODAYonline - KFMB - Newswatch 50 - CBS 4 -
all 206 related »
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US budget deficit drops to US$296 billion under new White House ...
Canada.com, Canada - 16 minutes ago
WASHINGTON (AP) - The White House Tuesday touted new deficit figures showing considerable improvement upon earlier administration predictions, trumpeting the ...

"I am only one, but I am one. I cannot do everything, but I
can do something. And because I cannot do everything, I will
not refuse to do the something that I can do. What I can do,
I should do. And what I should do, by the grace of God,
I will do." - Edward Everett Hale
http://www.apfn.org/old/apfncont.htm

In the first quarter of 2006, home foreclosures skyrocketed up a whopping 72% from last year; you can read all the horrifying statistics here. Sadly, too many Americans who wanted the American dream of owning their own home bought into all the hype and fancy commercials about adjustable rate mortgages. Low or no down and very low monthly payments under an ARM. Too many didn't do the homework about what happens when the privately owned FED raises the interest rates and how it would affect their ability to meet that increased monthly payment. Homeowners with zero understanding of the risk, refinanced their homes by the hundreds of thousands increasing the monthly payment. Many paid off debt, but too many went on buying sprees or vacations, further burying themselves in debt. The banks aren't worried, they just resell the house to the next uninformed American and take them for a ride.
http://www.newswithviews.com/Devvy/kidd199.htm

CONGRESS IGNORING LOOMING FINANCIAL CATASTROPHE — Devvy Kidd, Tue Jul 11 03:55

The Federal Reserve: It is Not federal, — RRWEB, Tue Jul 11 11:59

Trading Alone - US budget deficit drops to US$296 billion — featuring Jagdish Bhagwati, Tue Jul 11 11:44