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Obama and G.O.P. Gear Up for Next Fiscal Fight

Barack Obama

Days after one high-stakes standoff over finances was resolved, the two sides are getting ready for another as Congress prepares to address the nation’s borrowing limit.


Obama, Boehner take on taxes

Joe Biden and Barack Obama

Flush with re-election vigor, President Barack Obama on Friday will provide his first public comments on the upcoming negotiations with Congress on how to deal with pending tax hikes and spending cuts that create the so-called fiscal cliff facing the economy at the end of the year.


Germany says U.S. debt levels "much too high"

German Finance Minister Wolfgang Schaeuble questioned on Tuesday how the United States could deal with its high levels of government debt after November's presidential election.


National debt hits $16T; GOP critical

The Treasury Department said Tuesday that the national debt has topped $16 trillion, the result of chronic government deficits that have poured more than $50,000 worth of red ink onto federal ledgers for every man, woman and child in the United States....


A very strange argument for Mitt Romney

Here is what Romney, so far in this campaign, has said. No changes to any entitlement programs for any seniors for the next 10 years. No specifics on how quickly his Medicare vouchers will grow for future seniors. No specifics on which tax breaks he’ll eliminate in order to offset the multi-trillion dollar cost of his tax cuts. No specific plan naming the cuts he’ll make to reach his $7 trillion target. No specifics on how he’ll equalize tax treatment of employer and individual health care. It is a campaign based on the principle of “not us, not now.”


Matt Taibbi: 'Mitt Romney Is One Of The Greatest And Most Irresponsible Debt Creators Of All Time'

Mitt Romney

According to Rolling Stone contributing editor Matt Taibbi, Mitt Romney made his fortune exploiting two strategies that the Republican presidential candidate now decries: creating massive amounts of debt and milking federal government handouts... "The entire purpose of the business model that Romney helped pioneer is to move money into the archipelago from the places outside it, using massive amounts of taxpayer-subsidized debt to enrich a handful of billionaires. It's a vision of society that's crazy, vicious and almost unbelievably selfish, yet it's running for president, and it has a chance of winning."

Senh: If you still don't know how Mitt Romney became super rich, this article explains it all pretty well. It's scary that he could be the President of the United States.


GOP's gold standard idea comes up short


Tapping a popular idea to restore confidence in the dollar, the Republican Party is expected to call for a commission to look at the idea of returning the U.S. to the gold standard. To make that happen, they're going to have to find a lot more gold.


Republicans unveil 'national debt clock'

The Tampa Bay Times Forum has a new kind of scoreboard -- a "national debt clock" that is ticking up to $16 trillion. The ever-ticking clock, hanging above the delegates to the Republican convention, is designed to be "a compelling visual reinforcing the desperate need for new fiscal leadership in the White House," says the Republican National Committee.


Romney vows to boost national debt by $716 billion, no one blinks

Mitt Romney

Before the presidential campaign hurtles off to the next skirmish, take a moment to notice what happened this week: Mitt Romney vowed to increase the national debt by $716 billion, and no one so much as blinked.


CBO: Federal debt to exceed 70 percent of economic output

The amount of federal debt held by the public is projected later this year to surpass 70 percent of the nation's annual economic output, the nonpartisan Congressional Budget Office said Tuesday in a report that spotlighted the stark choices policymakers face on taxation and government spending.


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