Posts Tagged ‘Spain’
Hooda thunk it?
Just The Numbers, Mam
By Les Dunaway
Well the suspense is over – what little suspense there was.
“Super Committee Says It’s Unable to Agree on Debt Reduction Deal“
We all knew that Boehner got rolled on the debt limit deal. [read] [read] [read] He should have asked Bush I about trusting Democrats. At least, he called Obama out on sending the Democrats into the “Super Committee” with orders to avoid making a deal so that they can all blame the Republicans for being unwilling to raise taxes on the evil rich.
Just the Numbers, mam
By Les Dunaway
This is Vol 1 Issue 1 of a weekly discussion intended to lead to better understanding of financial issues facing our country.
I will, each week, take some issue from the current/recent news and discuss the issue itself and how it impacts our country and our way of life. I hope that there will be an ongoing discussion through comments to my posts.
I’m beginning this discussion because I believe that our country is at financial risk because of the bad decisions made in the past. (See below for other writings on this subject) I will stick to the numbers. Fans of Dragnet will recognize my tribute to Sgt Friday in the title. This is a non-partisan issue and if I write anything that sounds partisan, please call me on it. However, when we must discuss specific policies, let’s not yell “partisan” but rather take the Christian approach of “Hate the sin, love the sinner”.
To begin, I want to talk about why I believe our country and our way of life is at risk. At a basic level, it’s simple – no entity, a person, a family, a business or a nation can continue to spend in excess of income indefinitely. At some point, the debt will accumulate to a point where the debt and interest payments (debt service) exceed the amount of the income available after paying basic necessities (disposable income).
See Portugal, Ireland, Italy, Greece and Spain – known in the financial world as the PIIGS for current, real world examples. Read the rest of this entry »
