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)