Hennessy's View

TwitterFacebookGoogleFlickrYouTubeEmailRSS

Tag Archives: debt

You’ll Never Guess Who’s About to Become Obama’s Biggest Nightmare

Posted on by

In 2008, we heard all about the youth movement for Obama.  We heard that the enormous Millennial Generation, born between 1982 and 2001, would destroy the GOP and everything America once stood for–like jobs, family, faith, and hard work.  And when Obama won, many believed the tales of the Obama Youth. But many were wrong. Voters under 30 have had it with vague promises and glittering bullshit from that punk from Chicago. Meet Crossroads Generation

Read More…

NYT Describes Mayhem of “Taxmageddon”, And It Will Scare You Sick

Posted on by

What the hell’s going on at NYT? First, they do a piece on Andrew Breitbart. Then they warn the world that Taxmageddon will crush the world in 2013, beginning with the USA. Here’s how Business Insider summarized the David Leohardt article: Basically, with no changes to current law, taxes will rise for everyone, and after tax, inflation-adjusted income for the average American will drop to 1998 levels. Read more: http://www.businessinsider.com/nyt-here-comes-taxmageddon-2012-4#ixzz1s9RHtbZC It’s largest tax increase in

Read More…

This David Stockman Quote Should Scare the Hell Out of Everyone

Posted on by

Is the US economy about to collapse worse the Greece’s?  Some, like Paul Krugman, say that it’s okay for governments to print unlimited money.  Others, who have actually managed businesses, say otherwise. David Stockman is among the latter.  He was Reagan’s budget director for a few years.  He became a media sensation because of his command of numbers. He left the White House early, fretting over federal debt.  But debt in the 1980s was as

Read More…

Nightmarish Carnival of Democrat Mayhem Continues

Posted on by

Congressional Democrats plan to hold a special session in August to pass yet another $26 billion bailout for states.  Specifically for states that have create welfare empires they can no longer sustain. So responsible states now have to pay for irresponsible states at the point of a federal gun. It looks like the Democrats want to completely bankrupt America before they lose power in January. Of course, this also gives empty suits like Russ Carnahan

Read More…

Bi-Partisan Consensus: We’re Screwed

Posted on by

What if:  In January, a new Republican Congress is sworn in. First up on the agenda? A bi-partisan report stating that Congress must enact the most draconian tax increases and entitlement cuts in history or face total economic collapse. That’s the scenario developing. President Obama appointed a bi-partisan commission to make recommendations about the US government’s debt.  The commission will not report out until after the November 2010 elections, but the leaders—Republican Alan Simpson and

Read More…

Obama Insults Americans . . . Again

Posted on by

An arrogant and distracted Barack Obama appeared at a press conference for the G20 Summit today. His purpose: to insult, threaten, and cajole the American people from an international stage. I’m doing it because I said I was going to do it and I think it’s the right thing to do. People should learn that lesson about me because next year when I start presenting some very difficult choices to the country, I hope some

Read More…

Terrific: U.S. Pumping $$ into European Economic Abyss

Posted on by

Break out the Depression Glasses to toast the Obama Administration’s latest foray into economic disaster. Just posted on WSJ.com: BREAKING: The Federal Reserve and other central banks open a credit line to send dollars to Europe to ease debt crisis. Yes, folks. Your taxes are going up, your kids are going deeper into debt, to bail out lazy, overpaid, spoiled Greek socialists. Thank your president. The U.S. move follows a panicked decision by EU leaders

Read More…

Greece: America’s Future

Posted on by

As I waited to appear on Larry Kudlow’s show last Friday, I heard Larry announce over and over again that he’s sick of hearing about Greece’s problems.  Greece isn’t America.  The U.S. economy is booming, and Greece can’t hurt it. I didn’t tell Larry, but I think he was wrong. Greece’s problems will hurt the American economy because Greece’s problems foreshadow a far more dangerous crash headed to America. Markets are people.  People react emotionally

Read More…

Why Focus on Government Spending?

Posted on by

The mounting government debt–$2.98 trillion in recent bailouts and stimuli alone–is an oppressive anchor around the neck of every American.  Currently, every family of 3 is obliged to pay over $118,000 in the next 30 years.  That’s a house payment with a variable-rate.  In other words, the government has done exactly what helped cause the mess for individuals by borrowing beyond its means at a teaser rate of 0.8 percent.   That Teaser Rate Will

Read More…

The Evil of Debt

Posted on by

The debtor is a slave to his lender.   Americans hold hundreds of billions of dollars in credit card debt alone.  To this add automobiles, student loans, mortgages, medical, and myriad personal loans and you arrive at the staggering figure of $2.55 trillion with a ‘t’.   This massive debt–encouraged and backed by the US Government–makes us miserable.  Seriously.  Are you happy?   If the debtor is slave to his lender, then the US Government is

Read More…

CyberChimps