Our debt will only burden our children

Freedom New Mexico It’s staggering. The federal debt, currently calculated at $15.2 trillion, actually is $51 trillion. The more familiar debt figure of $15.2 trillion debt is bad enough. It’s increasing at about $1.3 trillion a year and comes from deficit spending the past 10 years on the federal budget, whose fiscal year begins each […]

Nobel winners stay skeptical of federal debt

Freedom New Mexico Economics may be called the “dismal science.” But, boy, when government gets it wrong, untold misery results — as we’re seeing as the Great Recession keeps rolling on like a four-year Halloween horror show. The co-winners of this year’s Nobel economics prize are two Americans whose work shows how important their discipline […]

Commissary boss: Value overlooked

Military grocery stores operate so efficiently that the discounts provided to shoppers are worth double the value of tax dollars being spent to deliver this prized benefit worldwide to U.S. service members and families. Joseph H. Jeu, director of the Defense Commissary Agency, made that point and more in an interview last week amid rising […]

Obama lacks experience to be president

Freedom New Mexico Maybe we are mired in debt, hobbled with less-than-excellent credit, because our chief executive has no experience beyond that which he has gained on the job. He spoke Monday and used the credit downgrade to promote tax reform “that will ask those who can afford it to pay their own share.” How […]

Obama signs debt ceiling bill

WASHINGTON (AP) — The Senate emphatically passed emergency legislation Tuesday to avoid a first-ever government default, rushing the legislation to President Barack Obama for his signature just hours before the deadline. The vote was 74-26. Obama signed the bill little more than an hour later. Tuesday’s vote capped an extraordinarily difficult Washington battle pitting tea […]

U.S. needs to drastically reduce spending

Freedom New Mexico The party is almost over and it may be time to push for a debt-limit reduction in order to avoid another binge. A lowering of the credit rating may be inevitable, even if Congress and President Obama work out a deal to raise the debt limit and pay bills. That’s because we’re […]

Press release: Bingaman talks debt compromise

WASHINGTON – U.S. Senator Jeff Bingaman today talked about the debt ceiling compromised that Congress is expected to vote on today. Bingaman’s remarks can be retrieved by going to his website or clicking on the following link: http://bingaman.senate.gov/mediaasset/bingaman080111m.mp3

Business digest — July 26

Clovis couple wins $10,000 Shawn and Tina-Marie Schiller, members of High Plains Federal Credit Union in Clovis, were top winners in an 11-month Savings Challenge New Mexico contest, walking away with $10,000 after meeting three goals, according to a press release. The couple was coached by High Plains Federal Credit Union coach Tammy Lewis. The […]

Cut in spending should be focus of budget deal

Freedom New Mexico This weekend, debt-ceiling wrangling in Washington remained stuck — a hash of politics (proposals are tied to 2012 election impact); ideology and principle (the rich should pay more; spending should be cut; the budget must balance); an attempt to solve everything at once with every possible remedy (see “politics”) and, as always, […]

Debt showdown: An interactive story on the federal budget (update)

Federal debt must be cut smart way

Freedom New Mexico President Obama said Monday during a White House press conference that he would not consider stopgap measures to temporarily avert the debt-ceiling crisis, saying “that is just not an acceptable approach.” Speaker John Boehner says he agrees with President Obama that the nation’s borrowing limit must be raised, to avoid a government […]

Press release: Udall talks natural gas, debt limit

WASHINGTON – U.S. Senator Tom Udall talked with radio reporters today about a bipartisan bill he plans to introduce this week that will make it easier for independent producers to sell natural gas as vehicle fuel. He also answered questions on the debt limit discussions in Congress and highlighted the heroism of Army Ranger Leroy […]

Press release: Bingaman talks debt negotiations

WASHINGTON – U.S. Senator Jeff Bingaman today talked with New Mexico radio reporters about the ongoing debt negotiations. Bingaman’s remarks can be retrieved by going to his website or clicking on the following link: http://bingaman.senate.gov/mediaasset/bingaman071111m.mp3 00:00 – Bingaman gives a brief overview of the Energy Committee’s scheduled for the week. 02:27 – Bingaman comments on […]

Trim budget starts with ending wars

Freedom New Mexico As the U.S. Congress haggles over raising the debt ceiling, it needs to look behind the figures. Yes, the overall numbers are staggering. The U.S. government has run up so much debt that it soon will surpass the current legal debt limit of $14.3 trillion. That’s $14,300,000,000,000.00. The budget deficit for the […]

Deep in debt paying parental dues

There are some things about parenthood that no matter how many people warn you it won’t make sense until you’re there in the moment living it for yourself. My oldest son is very quick on his feet. He has an answer for everything, an excuse ready at all times. I am a firm believer that […]

Tax cuts for rich huge part of national debt

Your recent editorial suggesting the November election should invigorate Washington advocates the extension of Bush’s tax cuts for the rich, repealing the health care reform and underfunding or eliminating a “few” vulnerable federal agencies. The editorial says Bush’s tax cuts should be extended. The tax cuts for the rich are a HUGE part of our […]

Debt panel takes aim at military

Tom Philpott Military members and retirees have more financial darts to dodge after a second bipartisan task force on reducing the nation’s debt unveiled a different set of cost-cutting recommendations on Wednesday. The Debt Reduction Task Force, co-chaired by former Republican Sen. Pete Domenici and economist Alice Rivlin, takes sharper aim at the military community […]

Congress setting debt limit pointless

Freedom New Mexico It’s almost enough to make you wonder why Congress, in a show of ersatz fiscal responsibility, bothers to set a limit to the national debt at all. But back in more innocent days — 1917, with the passage of a second war bonds act — Congress had the na

Throwing cash at problems not solution

Freedom New Mexico The Senate is facing the politically uncomfortable prospect of raising the limit on the national debt — again — to somewhere north of $13 trillion. Senate Democrats are seeking a way to fold the admission of fiscal malpractice into some larger spending bill, hoping it won’t be noticed — and exploited politically. […]

North Plains parent company files bankruptcy

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File photo Staff and wire reports LOS ANGELES – The nation’s second-largest shopping mall owner, including Clovis’ North Plains Mall, filed for Chapter 11 bankruptcy protection Thursday in a tough bargaining move to restructure its $27 billion in debt. Shoppers at its malls will not be affected by its bankruptcy filing, according to General Growth […]