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U.S. war spending has huge costs and creates debt of trillions

Washington - Instead of defense and military spending in Afghanistan, Iraq and elsewhere being accompanied by increased taxes or sale of bonds, taxes are about to be cut.

Op-Ed: Debt ceiling issue crisis looms at end of February in U.S.

Washington - As far as debt ceiling crises are concerned history does repeat itself at least in the U.S. The U.S. Treasury spent all its borrowed time and money by Friday Feb. 7 and now is forced to use emergency measures to keep on spending.

Op-Ed: Here comes mega-crash v.3.0 as US default looks more likely

Washington - Republican leader Boehner has stated that the raising of the US debt ceiling is in doubt if President Obama doesn’t enter into discussion regarding a compromise. The US has effectively been funded by “extraordinary measures” since May this year.

Jack Lew the US Treasury Secretary by magic hikes US debt ceiling

Washington - The US federal government legal borrowing limit is $16.7 trillion. Other times when the debt limit is nearly reached the press is active in stressing that a crisis is near and negotiations essential.

Sequester cuts deal must be reached in US by March 1

Washington - As part of the fiscal cliff deal, automatic across the board cuts to spending, were put off until March 1. However, this leaves less than a month to work out a deal on a larger package or a smaller deal that would again postpone the cuts.

Geithner says debt ceiling should be scrapped

Washington - Timothy Geithner, U.S. Treasury Secretary, said that the debt ceiling should be abolished as soon as possible. Geithner said that the debt ceiling was used as a lever for political advantage and that this was not a tenable strategy.

Deal needed to avoid fiscal cliff and U.S. recession

Washington - The Congressional Budget Office(CBO) has just issued a report showing that if an agreement is not reached to avoid the fiscal cliff, the U.S. economy could drift back into a recession and the jobless rate could rise to over 9 percent by the end of 2013.

German Finance Minister: U.S. debt, elections 'global burden'

Berlin - A four-year, nearly $6 trillion leap in U.S. debt brings the total U.S. deficit to $16 trillion, which has prompted German Finance Minister Wolfgang Schaeuble to highlight the global impact of November’s U.S. elections.

Op-Ed: U.S. debt reaches $16 trillion

Washington - The Treasury Dept. website showed the debt at $15.99 trillion Thursday afternoon but then closed for the Labor Day weekend. The $16 trillion mark will be hit Sept 4 just as the Democratic Convention convenes in Charlotte N.C.

Standard & Poor's downgrades US' credit rating

The United States, the world's largest economy, suffered a major economic setback on Friday, losing its AAA rating from the credit rating agency Standard & Poor's.

US taxpayers face 'new waves of waste' in Afghanistan, Iraq

Arlington - A US government report reveals the Afghan and Iraqi governments are unable to operate or pay for themselves, causing a threat of “billions of dollars of new waste” for US taxpayers under attack by politicians refusing to acknowledge the overseas war.

Op-Ed: Debt ceiling talks a game of cat and mouse for Obama and Boehner

Washington - In what has to be described as the most pathetic displays of political leadership, President Barack Obama and House Speaker John Boehner continue engaging themselves in a cat and mouse game, all while showing what rats they truly are.

Op-Ed: If the recession was fun, just wait until a US default on debt

Washington - The Hypocrite Circus running The World’s Least Thoughtful Democracy has struck another blow for insolvency, refusing to raise the debt ceiling without cutting spending. With this failure looms larger the possibility of a US default on debt.

Op-Ed: Demonizing China — A perspective on the Bizarre World Order

There’s no doubt that since the fall of the Soviet Union, the West’s senior morons have been looking for some sort of external threat. China is now the focus of a classic scenario: An external enemy to shift focus from the failures of the society.

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The  light  at the end of the tunnel.
The 'light" at the end of the tunnel.
Photo by Chris McKenna (Thyduulf)
Wolfgang Schäuble  German finance minister (CDU) on March 9th 2011  during a pre-election party in ...
Wolfgang Schäuble, German finance minister (CDU) on March 9th 2011, during a pre-election party in Bensheim (Hesse).
Kuebi=Armin Kubelbeck

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