Federal deficit News

Ottawa - The deficit run by the Canadian federal government for the period of April through November for the 2012-13 fiscal year is $12.4 billion which is $3.1 billion less than the same period last year.

While preaching the gospel of deficit reduction, Prime Minister Stephen Harper has been running up the national debt to record levels.

Republican presidential candidate Congressman Ron Paul is intending to present a plan on Monday to cut $1 trillion in federal spending and create a balanced budget within the third year of his presidency.

Filmmaker and 'Happy Days' sitcom actor Ron Howard appeared on MSNBC and said he would support a higher tax structure for upper-income Americans, in line with President Obama's latest proposals.

Bella Vista - Richard Murie, who will turn 88 in October, says that "we need to raise the debt ceiling to save the nation," and is angry over the unwillingness of Republicans to tax the wealthy while wanting the middle class to shoulder the burden of debt reduction.

As the debt-ceiling deadline looms, Republicans need to step the plate and save themselves. Contrary to popular rhetoric, the current debt crisis is not the fault of Democrats or Republicans. It’s the economy stupid!

The GOP has executed the largest transfer of wealth in U.S. history. Due to unfair tax schemes and an obsession for selling out to corporations while hobbling the middle class, the U.S. has record numbers of billionaires and people living in poverty.

Washington - Exxon Mobil CEO Rex Tillerson has labeled an attempt by US Senate Democrats to pass a bill that would repeal tax breaks for oil companies as counterproductive and has charged the undertaking as “misinformed and discriminatory.”

The federal deficit is shrinking but I am sure the Democrats will never tell you.