Saturday, August 22, 2009

Obama to raise 10-year deficit to $9 trillion | U.S. | Reuters

"WASHINGTON (Reuters) - The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.
The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates" Visit: Obama to raise 10-year deficit to $9 trillion | U.S. | Reuters:

Tuesday, August 11, 2009

Pennsylvania's Tax and Debt Burden | POLICY POINTS from the Commonwealth Foundation

Useful Information from the Commonwealth Foundation:
"Tax Freedom Day is the day of the calendar year when Americans have finally earned enough money to pay all of their federal, state, and local taxes. The following table shows the dates to which Pennsylvanians had to work in 2009 in order to foot the bill.
In 2009, Pennsylvanians worked 104 days—January 1 to April 14—just to pay their tax bill.
Federal, state, and local taxes consume 28.5% of Pennsylvanians’ income (41% if federal deficit spending is added to the mix)
Overall, Pennsylvanians will spend more of their income on taxes than they will on food, clothing, and housing combined." Visit: Pennsylvania's Tax and Debt Burden | POLICY POINTS from the Commonwealth Foundation:

Wednesday, August 5, 2009

Official Tax Day TEA Party

Official Tax Day TEA Party, July 4th, 2009: "With the national debt already out of control, President Obama has added 78,000 new government jobs to the federal payroll since he took office. Obama’s increase in the number of government employees will add hundreds of millions of dollars to our debt. If history is any measure, these jobs will never be eliminated. They will simply add to the mountains of debt we are leaving our grandchildren and great-grandchildren."

Saturday, August 1, 2009

Desperate States and Decaying Federalism

From the Center for Vision and Values: Why are prosperous states like New York, New Jersey and California failing?
"The article focused on New York, New Jersey, and California, which are all cases of erstwhile prosperous states that have fallen on hard times. The common denominator has been liberal/“progressive” (i.e., big) government. All three employ heavy “soak-the-rich” state and local tax policies; and, yet, their government deficits are enormous. They rank near the top in per-capita state spending, but suffer from high unemployment and below-average job creation. They sought to be workers’ paradises with heavy unionization and a minimum wage above the national standard, yet lead the country in people moving out of state. What gives?
As Ronald Reagan would say, government is the problem, not the cure. The article continues: Desperate States and Decaying Federalism: