The Republican “betrayal”

October 11, 2017

The truth about money

Republicans only demand austerity and a balanced federal budget (and only indulge in their “debt ceiling” antics) when a Democrat is in the White House, or when Democrats control Congress.

For example, austerity mania raged in Washington from late 2010 to 2012, because a Democrat (Obama) was in the White House. Perhaps you remember Obama’s “cat-food commission,” and “grand bargain,” plus all the chatter about “sequesters.”

Before that, there were the disastrous four years of Bill Clinton’s budget surplus (1998, 1999, 2000, and 2001).

Republicans talk about austerity, but only Democrats put it into action.

When a Republican is in the White House, “deficits don’t matter,” as Republican Vice President Dick Cheney told Treasury Secretary Paul O’Neill.

Indeed, on 31 Dec 2002 President Bush fired Secretary O’Neill for opposing Bush’s spending spree for the invasion of Afghanistan and (in March 2003) Iraq.

This pattern never changes. Therefore it amuses me to see “fiscal conservatives” whining about Republican “betrayals.”

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Your House Can Pay You in Retirement

April 19, 2012

After years of making mortgage payments some retirees are nor getting payments back from their homes.  Reverse mortgages have been a possible part of retirement house-moneyplanning for many years.  They are a way for retirees to use equity in their home as a source of income payments.  The plans have often functioned in the form of an annuity with fixed monthly payments for the life of the reverse mortgage agreement or with a fixed sum payout at the closing.  Various options for the structure of reverse mortgages – some are discussed below.  There are some, however, for whom the reverse mortage option is simply not viable.  The reason for that has to do with the recent housing bubble and the ensuing collapse.

Read the rest of this entry »

How Your Tax Dollars are Spent

April 17, 2012

Accounting Degree Online has created an informative infographic about U.S. personal taxes.

Click “Read the rest…” to see the entire presentation. Read the rest of this entry »

Tricky Social Security Questions Answered

March 21, 2011

This is a Special Report by Elaine Floyd at horsesmouth.

Suspending benefits before full retirement age
Survivor benefits on a first marriage
Going back to work after starting Social Security
How will the recession effect Social Security benefits? Read the rest of this entry »

College Loan Debt is a Big Problem for Borrowers, Lenders and Government

August 3, 2010

MSN Money and The Wall Street Journal have combined to produce an article detailing some of the problems that exist for those with college loans debt. Among the situations cited is a 41-year old MD with $550,000 outstanding college debt. The debt was much less (about $250,000) when this individual graduated from medical school in 2003, but has ballooned to the present amount through mismanagement.

Another case mentioned is a laid-off factory worker with $120 a week garnished from her $300 a week unemployment check to apply against her son’s college loan debt. The son is also unemployed, having lost his $29,000 a year job 8 months ago.

A third case describes a college loan debt that has grown from $28,000 to more than $90,000, with monthly payments that were originally $230 now $816.

How do such cases happen? Read the rest of this entry »

You Are Not So Smart

July 31, 2010

I just came across a great blog with the subject title: published by David McRaney, a journalist and broadcast media director. I want to highlight two interesting posts. Read the rest of this entry »

Goldman’s Big Day

July 17, 2010

This is an update of an article “Great Day for Goldman” “Great Day for Goldman” that appeared on Seeking Alpha following the SEC press conference announcing the settlement with Goldman Sachs. Read the rest of this entry »

Listen to the Crash

May 9, 2010

This is an audio tape of President of Ben Lichtenstein’s breathless order-taking in the S&P 500 pit in Chicago during Thurday’s unusual trading. Link to audio.

Articles Week Ending January 29

February 6, 2010

Jan. 22 Oil Service Companies: Time to Buy?

Jan. 22 U.S. Banks to Face New Trading Restrictions

Jan. 23 Housing Double Dip?

Jan. 23 Aftershocks from the Massachusetts Earthquake

Jan. 24 Long Term Unemployment: Less than Actual Out of Work

Jan. 25 Hedge Funds, Investment Banks: When Will They Ever Learn?

Jan. 26 Housing Market Has a Way to Go

Jan. 26 Housing: Government as Casino Player

Jan. 26 New York Fed: Further Investigation Regarding the AIG Affair

Jan. 26 Are Existing Homes and New Homes Following Different Paths?

Jan. 28 Job Recovery Cycle Intact

Information Overload

October 24, 2009

This fabulous simple graphic from Jessica Hagy, courtesy of, has initiated some very interesting discussion, both serious and humorous.
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