AMERICAN TALIBAN

extreme religious fundamentalists who believe there should be no separation of church & state in US government

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On the web… Quotes from the The American Taliban

BUDGET DEFICIT

the amount by which a government’s annual expenditures exceed its annual tax revenues

Government budget deficits can be cured by cutting spending, raising taxes or a combination of the two. Deficits must be financed by borrowing money. Interest must be paid on borrowed funds, which increases the deficit.

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In the news… U.S. budget deficit totals $974B through July (CBSNEWS.COM, 9/10/12)

BUDGET SURPLUS

the amount by which a government’s annual tax revenues exceed its annual expenditures

In the news… President Obama Sees First Budget Surplus Of Presidency

INSIDE THE BELTWAY

The area inside the Capital Beltway, a highway that encircles Washington, D.C. An issue described as “inside the Beltway” is believed to be of concern only to the people who work in and with the federal government and of little interest to the nation at large.

THEOCON

a person with conservative views who believes that religion, esp Christianity, should be the dominant influence in government policy

CRONY CAPITALISM

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a description of capitalist society as being based on the close relationships between businessmen and the state. Instead of success being determined by a free market and the rule of law, the success of a business is dependent on the favoritism that is shown to it by the ruling government in the form of tax breaks, government grants and other incentives.

On the other hand, capitalists believe that crony capitalism arises from the need of socialist governments to control the state. This requires businesses to operate closely with the government to achieve the greatest success.

Both socialists and capitalists have been at odds with each other over assigning blame to the opposite group for the rise of crony capitalism. Socialists believe that crony capitalism is the inevitable result of pure capitalism. This belief is supported by their claims that people in power, whether business or government, look to stay in power and the only way to do this is to create networks between government and business that support each other.

(from Investopedia.com)

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In the news…
Romney’s ‘crony capitalism’ charge may ring true For leaders of both parties