Pronk Pops Show 36, July 3, 2011: Segment 2: Jim Rogers, Peter Schiff, Marc Farber and Ron Paul On The National Debt Ceiling and Balancing The Budget–Videos

Posted on July 12, 2011. Filed under: American History, Budgetary Policy, Business, Economics, Federal Government, Fiscal Policy, Government, Government Spending, History, Housing, Investments, Monetary Policy, Philosophy, Politics, Polls, Tax Policy, Videos, Wisdom | Tags: , , |

Pronk Pops Show 36:July 13, 2011 

Pronk Pops Show 35:July 6, 2011

Pronk Pops Show 34:June 29, 2011

Pronk Pops Show 33:June 22, 2011

Listen To Pronk Pops Podcast or Download Shows 34-36

Listen To Pronk Pops Podcast or Download Shows 30-33

Listen To Pronk Pops Podcast or Download Shows 27-29

Listen To Pronk Pops Podcast or Download Shows 22 (Part 2)-26

Listen To Pronk Pops Podcast or Download Shows 16-22 (Part 1)

Listen To Pronk Pops Podcast or Download Shows 10-15

Listen To Pronk Pops Podcast or Download Shows 1-9

 Segment 2: Jim Rogers, Peter Schiff, Marc Farber and Ron Paul On The National Debt Ceiling and Balancing The Budget–VideosThe Debt Ceiling

 

Special Report Commentary — June 11, 2011 — Brit Hume

 

Special Report Allstars — June 12, 2011 — Part 1: Debt Talks

 

Special Report Allstars — June 12, 2011 — Part 2: Debt Talks

 

Special Report Allstars — June 12, 2011 — Part 3: Debt Talks

The Secret Debt Fix

14th Amendment: A Pass to Raise the Debt Ceiling?

Judge Napolitano: Obama’s Ignorace regarding Constitutional Law & the 14th Amendment

Jim Rogers CNN Money June 2011 – America’s Debt Ceiling Crisis

Jim Rogers on FOX Business News 07/11/11

Peter Schiff on US economy ‘Default is inevitable’ (11-Jul-11)(FINANCE & ECONOMICS series)

Peter Schiff: 2011 Debt Ceiling Economic Crisis

Peter Schiff does standup comedy!‬‏

Why the Meltdown Should Have Surprised No One | Peter Schiff

Peter Schiff predictions for 2011 – CNBC 12/31/10

“Dr. Doom” Marc Faber: Here’s How the US Debt Ceiling Crisis Will End

Ron Paul on Debt Limit, FED And Default…What To Do About IT

Ron Paul – Will Congress Raise the Debt Ceiling – Your share in debt ceiling 2011

 

Ron Paul 2012: Debt Ceiling, Default, & Inflation

Ron Paul: The World Will Give Up on the Dollar

 

Ron Paul: The Purpose of a Central Bank Is to Deceive and Defraud the People

Ron Paul on the Debt Ceiling, Sanctuary Cities and Entitlement Program

 

President Obama News Conference

Corporate Jet Subsidies: Welfare Only a Republican Could Love

President Obama on Deficit Reduction

Sen. Rand Paul Speaks Out Against Pres. Obama on the National Debt Ceiling – 6/30/11

Senator Rubio Talks Budget & Debt On Senate Floor

Underwhelming Spending Cuts from Congress and Obama

 

Red Ink

Senator Pat Toomey Explains That Failing To Raise Debt Limit Doesn’t Cause Default

 

Jim DeMint Balanced Budget Amendment and Republican Presidential Candidate’s

CNN: DeMint Discusses Cut, Cap & Balance Pledge

Brit Humes Commentary – Understanding Debt Crisis [FOX 6-28-2011]

Ron Paul on Bloomberg 6/3/11

 

http://en.wikipedia.org/wiki/Economy_of_the_United_States

 

Summary of Outlays, Revenues (Receipts), Deficits, Surpluses Fiscal Years 1980-2010(Nominal Dollars in Millions)
Fiscal Year Outlays Revenues (Receipts) Deficits (-), Surpluses
1980 590,941 517,112 -73,830
1981 678,241 599,272 -78,968
1982 745,743 617,766 127,977
1983 808,364 600,562 -207,802
1984 851,805 666,488 -185,367
1985 946,344 734,037 -212,308
1986 990,382 769,155 -221,277
1987 1,004,017 854,288 -149,730
1988 1,064,417 854,288 -155,178
1989 1,143,744 991,105 -152,639
1990 1,252,994 1,031,958 -221,036
1991 1,324,226 1,054,988 -269,238
1992 1,381,529 1,091,208 -290,321
1993 1,409,386 1,154,335 -255,051
1994 1,461,753 1,258,566 203,186
1995 1,515,742 1,351,790 -163,392
1996 1,560,484 1,453,053 -107,431
1997 1,601,116 1,579,232 -21,884
1998 1,652,458 1,721,728 69,270
1999 1,701,842 1,827,452 125,610
2000 1,788,950 2,025,191 236,241
2001 1,862,846 1,991,082 128,236
2002 2,010,894 1,853,136 157,758
2003 2,159,899 1,782,314 -377,585
2004 2,292,841 1,880,114 -412,727
2005 2,471,957 2,153,611 -318,346
2006 2,655,050 2,406,869 -248,181
2007 2,728,686 2,567,985 -160,701
2008 2,982,544 2,523,991 -458,553
2009 3,517,677 2,104,989 -1,412,688
2010 3,456,213 2,162,724 -1,293,489

 

Monthly Treasury Statement

FINANCIAL MANAGEMENT SERVICE
STAR – TREASURY FINANCIAL DATABASE
TABLE 1.  SUMMARY OF RECEIPTS, OUTLAYS AND THE DEFICIT/SURPLUS BY MONTH OF THE U.S. GOVERNMENT (IN MILLIONS)

ACCOUNTING DATE:  06/11

PERIOD                                                                     RECEIPTS                OUTLAYS    DEFICIT/SURPLUS (-)
+  ____________________________________________________________  _____________________  _____________________  _____________________
PRIOR YEAR

OCTOBER                                                                   135,293                311,656                176,363
NOVEMBER                                                              133,563                253,850                120,287
DECEMBER                                                               218,919                310,329                 91,410
JANUARY                                                                205,239                247,873                 42,634
FEBRUARY                                                              107,520                328,429                220,909
MARCH                                                                     153,358                218,745                 65,387
APRIL                                                                        245,260                327,950                 82,689
MAY                                                                           146,794                282,721                135,927
JUNE                                                                          251,048                319,470                 68,422
JULY                                                                          155,546                320,588                165,043
AUGUST                                                                    163,998                254,524                 90,526
SEPTEMBER                                                            245,207                279,813                 34,607

YEAR-TO-DATE                                             2,161,746              3,455,949              1,294,204

CURRENT YEAR

OCTOBER                                                                   145,951                286,384                140,432
NOVEMBER                                                              148,970                299,364                150,394
DECEMBER                                                               236,875                315,009                 78,134
JANUARY                                                                 226,550                276,346                 49,796
FEBRUARY                                                               110,656                333,163                222,507
MARCH                                                                     150,894                339,047                188,153
APRIL                                                                        289,543                329,929                 40,387
MAY                                                                           174,936                232,577                 57,641
JUNE                                                                          249,658                292,738                 43,080

YEAR-TO-DATE                                              1,734,033              2,704,557                970,524

http://www.fms.treas.gov/mts/mts0611.txt

 

Obama Spending

Boehner on Hannity Talks Jobs, Debt Limit, & Balanced Budget Amendment

The US economy is failing and a recovery seems uncertain

Cut, Cap, Balance: Sen Jim DeMint (R-SC)

ECONOMY: Blackburn On Cut Cap Balance

Don’t Be a Chicken

Super MariObama

Chairman Jordan: Cut, Cap, & Balance – That’s the Bottom Line

President restarts debt ceiling talks

Tom and the Judge talk Debt Limit

Obama, Dems Negotiation Failure On Spending Cuts

Amid ‘Serious Negotiations’ on Debt, Can Obama and GOP Find Common Ground?

Start Listening to Senator Paul:

3/09/11: Sen. Rand Paul on balancing the budget

03/17/11: Sen. Rand Paul Introduces Five-Year Balanced Budget Plan

S-1 FY2012 Senator Rand Paul

(Nominal Dollars in Billions)

Fiscal Year Outlays Revenues DeficitsSurplus Debt Held By Public
2011 3,708 2,228 -1,480 10,430
2012 3,100 2,547 -553 11,051
2013 3,152 2,755 -397 11,532
2014 3,227 3,088 -139 11,748
2015 3,360 3,244 -116 11,942
2016 3,430 3,349 19 11,997
2012-2016 16,269 15,083 -1,188 n.a.

http://campaignforliberty.com/materials/RandBudget.pdf

4/14/11: Sen. Rand Paul Speaks Out Against the Continuing Resolution

Senator Lee explains the enforceability of a balanced budget amendment

Senator Pat Toomey Explains That Failing To Raise Debt Limit Doesn’t Cause Default

Neither the Republican Party nor Democratic Party Fiscal Year 2012 budget proposals are the road to peace and prosperity but a Tea Party budget with balanced budgets most definitely is:

Which Budgets Are Balanced And Living Within The Means of The American People?

 

4/5/11 Republican Leadership Press Conference

Republican Party Budget Proposals

S-1 FY2012 Chairman’s Markup

(Nominal Dollars in Billions)

Fiscal Year Outlays Revenues Deficits Debt Held By Public
2011 3,618 2,230 -1,388 10,351
2012 3,529 2,533 -995 11,418
2013 3,559 2,860 -699 12,217
2014 3,586 3,094 -492 12,801
2015 3,671 3,237 -434 13,326
2016 3,858 3,377 -481 13,886
2017 3,998 3,589 -408 14,363
2018 4,123 3,745 -379 14,800
2019 4,352 3,939 -414 15,254
2020 4,544 4,142 -402 15,681
2021 4,739 4,354 -385 16,071
2012-2021 39,958 34,870 -5,088 n.a.

http://budget.house.gov/UploadedFiles/PathToProsperityFY2012.pdf

Sen. Toomey Unveils his FY 2012 Budget

Senator Pat Toomey Talks with Michael Medved about his Budget

S-1 FY2012 Senator Pat Toomey(Nominal Dollars in Billions)
Fiscal Year Outlays Revenues DeficitsSurplus Debt Held By Public
2011 3,625 2,230 -1,351 10,351
2012 3,477 2,538 -919 11,418
2013 3,485 2,964 -521 12,217
2014 3,509 3,216 -291 12,801
2015 3,623 3,391 -233 13,326
2016 3,765 3,524 -241 13,886
2017 3,853 3,736 -117 14,363
2018 3,955 3,916 -39 14,800
2019 4,140 4,108 -32 15,254
2020 4,302 4,325 23 15,681
2021 4,493 4,566 73 16,071
2012-2021 38,602 36,304 -2298 n.a.

http://www.scribd.com/doc/55116239/Restoring-Balance-Final

Democratic Party Budget Proposals

S-1 FY2012 President’s Budget

(Nominal Dollars in Billions)

Fiscal Year Outlays Revenues Deficits Debt Held By Public
2011 3,819 2,174 -1,645 10,856
2012 3,729 2,627 -1,101 11,881
2013 3,771 3,003 -768 12,784
2014 3,977 3,333 -646 13,562
2015 4,190 3,583 -607 14,301
2016 4,468 3,819 -649 15,064
2017 4,669 4,042 -627 15,795
2018 4,876 4,257 -619 16,513
2019 5,154 4,473 -681 17,284
2020 5,442 4,686 -735 18,103
2021 5,697 4,923 -774 18,967
2012-2021 45,952 38,747 -7,205 n.a.

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/tables.pdf

Tea Party Budget Proposals

S-1 FY2012 Tea Party’s Balanced/Surplus Budget(Nominal Dollars in Billions)
Fiscal Year Outlays Revenues Surpluses Debt Held By Public
2012 2,500 2,500 0 10,900
2013 2,800 2,800 0 10,900
2014 3,000 3,000 0 10,900
2015 3,200 3,200 0 10,900
2016 3,300 3,300 0 10,900
2017 3,400 3,500 100 10,800
2018 3,500 3,700 200 10,600
2019 3,600 3,900 300 10,300
2020 3,700 4,000 300 10,000
2021 3,800 4,300 500 9,500
2012-2021 32,800 34,200 1,400 n.a.

Background Articles and Videos

Grant Says New Regulations `Asphyxiating’ U.S. Banks

James Grant and James Turk discuss gold, the Fed and the fiscal situation of the USA

Ron Paul’s Committee Hearing 3-17-11 Part 1/8

Ron Paul’s Committee Hearing 3-17-11 Part 2/8

Ron Paul’s Committee Hearing 3-17-11 Part 3/8

Ron Paul’s Committee Hearing 3-17-11 Part 4/8

Ron Paul’s Committee Hearing 3-17-11 Part 5/8

Ron Paul’s Committee Hearing 3-17-11 Part 6/8

Ron Paul’s Committee Hearing 3-17-11 Part 7/8

Ron Paul’s Committee Hearing 3-17-11 Part 8/8

Bernanke Says Recovery to Pick Up in Coming Quarters

Fed Cuts US Growth Outlook

The Deficit Is Worse Than We Think

Normal interest rates would raise debt-service costs by $4.9 trillion over 10 years, dwarfing the savings from any currently contemplated budget deal.

By LAWRENCE B. LINDSEY

“…Washington is struggling to make a deal that will couple an increase in the debt ceiling with a long-term reduction in spending. There is no reason for the players to make their task seem even more Herculean than it already is. But we should be prepared for upward revisions in official deficit projections in the years ahead—even if a deal is struck. There are at least three major reasons for concern.

First, a normalization of interest rates would upend any budgetary deal if and when one should occur. At present, the average cost of Treasury borrowing is 2.5%. The average over the last two decades was 5.7%. Should we ramp up to the higher number, annual interest expenses would be roughly $420 billion higher in 2014 and $700 billion higher in 2020.

The 10-year rise in interest expense would be $4.9 trillion higher under “normalized” rates than under the current cost of borrowing. Compare that to the $2 trillion estimate of what the current talks about long-term deficit reduction may produce, and it becomes obvious that the gains from the current deficit-reduction efforts could be wiped out by normalization in the bond market. …”

“…The second reason for concern is that official growth forecasts are much higher than what the academic consensus believes we should expect after a financial crisis. That consensus holds that economies tend to return to trend growth of about 2.5%, without ever recapturing what was lost in the downturn.

But the president’s budget of February 2011 projects economic growth of 4% in 2012, 4.5% in 2013, and 4.2% in 2014. That budget also estimates that the 10-year budget cost of missing the growth estimate by just one point for one year is $750 billion. So, if we just grow at trend those three years, we will miss the president’s forecast by a cumulative 5.2 percentage points and—using the numbers provided in his budget—incur additional debt of $4 trillion. That is the equivalent of all of the 10-year savings in Congressman Paul Ryan’s budget, passed by the House in April, or in the Bowles-Simpson budget plan.

Third, it is increasingly clear that the long-run cost estimates of ObamaCare were well short of the mark because of the incentive that employers will have under that plan to end private coverage and put employees on the public system. Health and Human Services Secretary Kathleen Sebelius has already issued 1,400 waivers from the act’s regulations for employers as large as McDonald’s to stop them from dumping their employees’ coverage. …”

http://online.wsj.com/article/SB10001424052702304657804576401883172498352.html

 

Michele Bachmann says Obama using “scare tactics” on debt ceiling

“…White House hopeful Michele Bachmann on Tuesday accused President Obama of using scare tactics to convince Congress to raise the statutory limit on how much money the United States can borrow to keep the government running.

“I think these are scare tactics by the Obama administration,” the Minnesota Republican Representative said in an interview on CBS’ “The Early Show,” referring to assertions that financial markets would be face turmoil if Congress does not raise the $14.3 trillion debt ceiling by August 2.

“Until I see a legitimate, serious reduction in spending, I can’t give my vote” to raise the debt ceiling, Bachmann said, adding “we will be right back at it again a year and a half from now in a worse position than we are today.”

Bachmann noted that the debt ceiling would have to be increased by about $2.4 trillion to last through the end of next year.

She backed a controversial proposal from Sen. Pat Toomey, (R-Pa.) to give bondholders, including China, first dibs on the payments from the U.S. Treasury.

“The interest on the debt can easily be paid for and that would mean that we wouldn’t default,” she said. …”

“…Toomey’s proposal is popular among the conservative Tea Party wing of the Republican party, but has not been endorsed by the Republican leadership on Capitol Hill.

The Obama administration has warned against Toomey’s proposal, as has Federal Reserve Board Chairman Ben Bernanke.

Earlier this month, Bernanke, who served as a top White House adviser to President George W. Bush before becoming Fed chief, said such a prioritization move would cause unnecessary concerns in the financial markets and would only buy a short amount of time.

“While debt-related payments might be met in this scenario, the fact that many other government payments would be delayed could still create serious concerns about the safety of Treasury securities among financial market participants,” Bernanke said in a speech earlier this month. …”

http://www.cbsnews.com/8301-503544_162-20074952-503544.html

Related Posts On Pronk Palisades

Make a Comment

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Liked it here?
Why not try sites on the blogroll...