Over three-quarters of Congress lack an academic background in business or economics.
In 2008, the top 2 percent of taxpayers provided 46 percent of all federal income taxes.
The United States’ stellar AAA credit rating is at risk. Losing it could cost us $283 million a day.
Is there a disconnect between the worries of the American public and those in the position to do something about it?
Our elected representatives can use a value added tax to collect hundreds of billions in additional government revenue that spares them from reining in excessive spending.
Posted on 20 August 2011
On the evening of August 5th, credit rating agency Standard & Poor’s announced that it was lowering the United States’ credit rating from AAA to AA+. “Lowering the nation’s rating to one notch below AAA, the credit rating company said “political brinkmanship” in the debate over the debt had made the U.S. government’s ability to […] Continue Reading
Posted on 13 July 2011
Amid concerns about the national debt and the debt ceiling, Moody’s put the U.S. credit rating under review for a downgrade. The U.S., rated Aaa since 1917, was put on review for the first time since 1995 on concern the debt limit will not be raised in time to prevent a missed payment of interest […] Continue Reading
Posted on 25 April 2011
Defeat the Debt’s executive director, Rick Berman, had an op-ed on bankrupt government programs in the Sunday, April 24th, edition of the Iowa Gazette. When a company advertises a great product at an unbelievably low price, then tries to sell you a higher-priced alternative because they never had the product in the first place, we […] Continue Reading
Posted on 18 April 2011
On April 18th, the ratings firm Standard & Poor’s (S&P) downgraded the outlook of U.S. government debt from “stable” to “negative.” The ratings company believes the chances that the U.S.’s credit rating will be lowered within two years are around one-in-three. (…) S&P said Monday it sees a risk that policy makers might fail to […] Continue Reading