October 2013 – Page 3

Presidential Path

By Econ70 | 10/03/2013

With the debt ceiling fast approaching, President Obama is caught between borrowing no more than Congress will allow him, or paying what Congress has instructed him to do, but not both. Either way, he breaks the law. Given the huge economic consequences of not paying our bills, President Obama must breach the debt ceiling. Should…

Changing Faces

By Econ70 | 10/02/2013

By 2018, non-Hispanic whites under 18 will be less than 50% of the population under 18, with Hispanics, Asians and blacks collectively being the majority. By 2043, more than half the entire US population will be Hispanic, Asian or black and by 2060, more than half of the population over 65 will be Hispanic, Asian…

Furlough Farce

By Econ70 | 10/01/2013

With federal workers averaging $108,500/year in salary and benefits, if all 820,000 furloughed federal workers never came back, the total savings to the Treasury would be $90 billion/year. In a budget of roughly $3.5 trillion, that’s just 2.6% of all spending. Even as a percentage of the $642 billion FY13 deficit, a reduction of $90…