Hennessy's View

Low Interest Rates Hid True Cost of Increasing Debt

House mortgage-type instrument suggested as means to pay off national debt Guest Post By Lee A. Presser Interest rates have been held artificially low by the Federal Reserve since 2008. This has had the effect of hiding the true cost of increasing debt. As interest rates rise back toward 4%, the U.S. Treasury will have less money to spend on discretionary governmental functions. The FY 2015 budget is approximately $3,900,000,000,000.00. Another way to look at that number is about $12,187. Read more →

Bureaucratizing Street Gangs

Did you ever wonder why do-gooders and social planners never pay for their crimes? Yesterday, I wrote about Jesse Jackson dressing down at the hands of activists in a McDonald’s parking lot in Ferguson. I pointed out that Martin Luther King and Dick Gregory were similarly dismissed by rioters in the 1960s. Some things never change. One thing that has changed is the economic gap between whites and blacks. That’s gotten worse despite trillions in federal poverty programs that went mostly to “community organizing. Read more →

Video: Rick Santelli Destroys The Buffett Rule Live on CNBC

The man who’s 2009 rant inspired the Tea Party movement shreds Obama’s “soak the rich” plan. Shreds I said. [youtube https://www.youtube.com/watch?v=bfRxFFhhWnk] Santelli Crushes Buffett Rule There is no tax solution to America’s spending problem. Each additional dollar confiscated from the economy to feed the Washington bureaucracy results in an additional $1.40 in new spending. Washington IS THE PROBLEM! Starve the monster. Bleed the monster. But** Don’t Feed the Monster!** Read more →