20110113-Stossel-[Meet the New Boss]-Fox Business.CF

I appreciate your interest here! Want to give back to this effort? Volunteer bitcoin to: 14prNxpuEgZwfKgjoy163zScawo7AiHuQk learn: bitcoincharts.com ---------- STOSSEL - [Meet The New Boss (Same as the Old Boss)] - Fox Business Network 2011, January 13, Thursday Xvid/MP3 AVI - encoded from medium quality ReplayTV stream ----- [excerpted from John Stossel's blog:] January 12, 2011 02:28 PM UTC by John Stossel This Week's Column: Same as the Old Boss? So the Republicans took control of Congress. New House Speaker John Boehner declared that "our spending has caught up with us... No longer can we kick the can down the road." He's right about that. Thanks to runaway spending during the last two administrations, the debt our government owes investors now stands at 62% of GDP. But is there any reason to believe that Republicans will reverse the trend? Will this group be more responsible that the previous bunch? I hope so. But I’m skeptical. When the new Speaker Rep. John Boehner was asked to name one program we could "do without", he said "I don’t think I have one off the top of my head." Give me a break! The Republican leader in the House doesn’t already know what he wants to cut? I don’t know which is worse: that he doesn’t have a list or that he won’t talk about it in public. That doesn't sound good. But here is one ray of hope: Canada. In 1994, Canada's debt was worse than our 62%. Canada’s debt was 67 percent of GDP. In this week's syndicated column, I write about how Canada paid down its debt: What did Canada do? It cut spending from 17.5 percent of GDP to 11.3 percent. This wasn't merely a cut in the growth of spending, a favorite trick of congressional committees. These were actual reductions in absolute spending. "If a cabinet minister wanted a smaller cut in one program, he had to come up with a bigger cut in another program," writes Henderson in "Canada's Budget Triumph," published by the Mercatus Center. All but one of Canada's 22 federal departments experienced real cuts in spending. While Canada raised taxes slightly, spending was cut six to seven times more. These supposedly painful cuts didn't cause terrible pain. In fact, there was much more gain than pain. Unemployment dropped, the economy boomed, and the Canadian dollar -- then worth about 71 cents U.S. -- today is about equal to the American dollar. ---------- uploader comment: At the time of upload-- $1 USD buys $1.01 Australian or $0.99 Canadian (source: xe.com) C'mon! Near parity with both countries? And Canuck Loonies coins are worth _more_ than our coin! Really?! Aussie bills are cooler, I think they're printed on Tyvek. FED...sucks.

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 skJGZV6z (2011-01-21)

STOSSEL for 20110120 will be delayed until this Sunday due to DVR foulup (it's a ReplayTV, it's buggy). However, I did manage to catch a few minutes of the program and see that it's covering similar ground as "Politicians Top 10 Promises Gone Wrong" available earlier in this listing.