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Debt
  • Tweet Untweet: Filibusters!


    Tags: Debt, Fiscal Cliff, Mitch McConnell, Tweet Untweet, Twitter
  • Our Endorsements: Somebody Loves Joe Biden

    * Leslie Knope says yep to Joe Biden.

    * Ibish Comedy presents Pajama Obama in the sheets and the streets.

    * Romney's concession speech gets musical.

    * Here is just one more of many ways to gloat, Democrats.

    * McSweeney's "The Grapes of Mitt" is all about the downtrodden.

    * A Kickstarter campaign for the national debt? Not so dumb after all.

    * Being a princess is fun, but it's not a career. Unless you're a law princess!

    * What real Americans have to say about the Petraeus sex scandal, from The Onion.

    * George Bush Jr. looks Jamaican, says Lewis Black. Sure that's not George Hamilton?


    Tags: Amy Poehler, Barack Obama, Budget, Daily Links, Debt, Facebook, George Bush, Joe Biden, Lewis Black, Mitt Romney, Sesame Street, Sonia Sotomayor, The Onion, Wonkette
  • Top 10 Things Barack Obama Should NOT Say on Letterman (Too Late)

    Damn it! Damn it! Damn it! I meant to get this Top Ten list of of ridiculously stupid things that President Obama should definitely avoid saying on The Late Show with David Letterman up on the blog before his scheduled appearance the other night. Unfortunately, I got all distracted by this video of a monkey wrestling with a puppy, and before I knew it, I was too late.

    As it turns out, he really could have used my advice

    When asked if he remember what the national debt was when he entered office, President Obama said "I don't know what the number was precisely." Obama told Letterman "we don't have to worry about it short term."

    If only I had gotten this post up on time! Aaargh! He somehow managed to hit two of my ten trouble statements within seconds of each other. Look…

    1. "I don't know what the national debt number is precisely."
    Definitely don't say this or any variation of this. It hits exactly at conservative's biggest criticism of you. You can't make yourself look like you're uninformed about one of the biggest issues of the day. And, besides, it's not like it's difficult information to find. Remember that giant debt clock the Republicans had at their convention, so maybe refer to that.

    2. "I suspect there might be werewolves, or possibly Frankensteins, hiding inside the walls of the White House."
    This kind of paranoid rhetoric is not going to instill confidence in voters who are looking for an even-keeled rationalist to be in charge. Plus, it's really more of a Michele Bachmann-esque talking point.

    3. "We don't have to worry about the national debt in the short term."
    Again, you can't make yourself look like you somehow don't care about the national debt. Republicans are going to keep hammering away at this issue. See #1.

    Read More »


    Tags: Barack Obama, CBS, David Letterman, Debt, Television
  • Romney Campaign Owes $11 Million

    If Mitt Romney's previous business experience is any guide, a bunch of people are going to be fired while somebody collects a hefty, barely-taxed dividend

    Before the Republican National Convention, Mitt Romney was the Republican nominee in all but name. By law, however, he could only spend primary donations until he officially became [the] nominee. To increase cash flow during the interregnum, the Romney campaign borrowed $20 million…

    When federal election reports are released later this week, they’ll show debt of $15 million, but the campaign's actual debt is roughly $11 million. The campaign will soon begin fundraising to pay off the remainder.

    The Romney campaign isn't "in debt" in the sense of having more obligations than assets, but they do owe $11 million to the Bank of Georgetown thanks to a bridge taken to remain competitive in the months before FEC regulations permitted them to use their massive general election war chest.

    That, or this is another Romney business venture. Load up the campaign with debt, bet against it on Intrade and sink the entire enterprise. It worked at Bain.

    Photo by Oli Scarff/Getty Images News/Getty Images


    Tags: Debt, Fundraising, Mitt Romney, Money
  • Debt Ceiling Battle for Fiscal Conservatism Cost About $1.3 Billion

    Capitol dome, Washington DCAs the country careens headlong into its second great debt ceiling talking point throwdown in as many years, it's worth a moment's pause to look back and reflect upon the stunning success which was last summer's debt ceiling fight

    The last-minute drama of August's debt-limit fight cost the federal government at least $1.3 billion in increased borrowing costs, according to a new study from the Government Accountability Office (GAO).

    The government watchdog reported Monday that as markets watched the debt-limit fight, the spread between government debt and private securities narrowed, indicating Treasury debt was being viewed as a riskier investment as the ceiling approached.

    And the ultimate cost of the fight could be higher, as the GAO's analysis did not account for the multiyear costs associated with Treasury bonds that will remain in the market beyond fiscal 2011.

    What, you think this is a problem? This isn't a problem. There is a very easy, fiscally conservative solution to this monetary discrepancy that I'm certain the members of the congressional Tea Party caucus can get behind: Promise not to pay this either. Just go on television and make a bunch of loud sounds in front of flapping flags. And then refuse to cast a vote for anything that could be construed as repayment of that $1.3 billion.

    It worked last time, didn't it?

    Photo by Mark Wilson/Getty Images News/Getty Images


    Tags: Debt, Economy, House of Representatives, Money, Tea Party