From an Extreme Radical Independent Centrist – By: Larry Walker II – In his 1943 study entitled, The New Philosophy of Public Debt, U.S. economist, founder and 1st president of Brookings Institution (1927-1952), Harold G. Moulton expounded on the two conflicting debt philosophies of that era. First was the traditional view, that “a continuously unbalanced … Continue reading The Third Conception: Growing the Debt
Excerpt from: GAO: “No Opinion” on U.S. Financial Audit – By: Larry Walker II – World War Infinity :: “Prior to 1917, the Congress approved each debt issuance. In 1917, to facilitate planning in World War I, Congress established a dollar ceiling for Federal borrowing. With the Public Debt Act of 1941 (Public Law 77-7), … Continue reading U.S. Debt Ceiling | World War Infinity
USA vs. Cyprus: Gross Government Debt to GDP – By: Larry Walker, II – According to Speaker of the House John Boehner, “We do not have an immediate debt crisis.” No, then what would you call it? Seems to me it was immediate in 1995, and again in 2008, so what is it now? Are … Continue reading Budgeting 201: An Immediate Debt Crisis
“Raising the debt ceiling does not authorize more spending. It simply allows the country to pay for spending that Congress has already committed to.” ~ POTUS :: :: By: Larry Walker II :: Wow, that was enlightening. I really had no idea. Now I get it. He must be talking about last year, when Congress … Continue reading Debt Ceiling: Evidence of Absence
Hey, Don’t Double Obama’s Rates! * By: Larry Walker, Jr. * Mr. Obama asked students at the University of North Carolina yesterday afternoon to tell their members of Congress one thing: Don’t double my rates. Once again, Mr. Obama doubled down on flimflam, this time misdirecting towards rising interest rates on student loan debt — … Continue reading Rising Interest on Federal Debt | Don’t Double My Rates
* Great Debt Spikes in American History: 1792 to 2014 * By: Larry Walker, Jr. – By the end of 2012, the national debt per citizen will reach $52,222 for every man, woman, and child in the United States of America. But even more sobering and significant is the fact that the national debt per … Continue reading War on Wealth III | National Debt Review
The 4th Deadly Sin – By: Larry Walker, Jr. – Definition of Lazy – “encouraging inactivity or indolence” – The Nixon Shock was a series of economic measures taken by U.S. President Richard Nixon in 1972, which included unilaterally cancelling the direct convertibility of the United States dollar to gold and essentially ending the existing … Continue reading National Debt Bomb | 1976 to 2011
~ Pass The Monetary Reform Act ~ By: Larry Walker, Jr. ~ The Obama administration’s solution for the nation’s impending destruction, due to out-of-control deficit spending, is to increase the debt ceiling now, and worry about spending cuts later. The Obama administration is under the impression that more borrowing power will enable the nation to … Continue reading Solving the Debt Crisis | A Catch-22
An Empire Built on Sand ~ ~ By: Larry Walker, Jr. ~ Those of us who lived through the financial crisis of 2008 are most familiar with the drawbacks of fractional-reserve banking. It’s core theory, that wealth is created through debt, is now so ridiculously out of control, that every newborn American citizen today enters … Continue reading Debt Mayhem | End Fractional-Reserve Banking
~ By: Larry Walker, Jr. ~ The rich rule over the poor. The borrower is servant to the lender. ~ Proverbs 22:7 ~ Free Our Money – So what’s the problem? You know, you think about it all the time. It’s debt, debt, debt! The way our economy is set up now, the only way … Continue reading Monetary Reform, Part I | End the Debt
Black and Center 