The US government recently hit its $31.5 trillion debt limit after years of careening baseline spending on entitlements combined with emergency COVID-19 spending in the last few years to produce record-busting deficits. The new Republican majority...
A worse-than-expected inflation report released Friday spooked the Federal Reserve into contemplating steeper-than-expected interest rate hikes on Monday. That in turn spooked traders into a stock sell-off, driving the S&P 500 into a bear market...
Even before our nationwide COVID-19 panic attack, we were heading for yet another trillion dollar deficit. Before the dust settled, 30 million Americans had filed for unemployment, those fortunate enough to have jobs were figuring out how to work...
The federal government is moving into the final stages of its fiscal life. Deficits have gotten so enormous that the Federal Reserve simply prints the money the government needs. Why? Because that’s the only option left on the table. For years, we...
The National debt clock moves so fast that it is impossible to write down the balance accurately at any given time. It rolls along at about $45.00 per second and is now at $22,028,706,063,174.96 (that’s trillion dollars). As much as this...
If you seriously think that the government will shut down for any extended period of time and the result would be a balanced budget or a more reasonable approach to our spending situation, then I want to tell you that Santa Claus is not coming down...
Probably not and the chances of ever paying it off or even paying it down are slim to none. As of September 20th of this year, we owe $21,499,171,612,329. Yes, that’s $21.5 trillion dollars! At some point during the calendar year 1984, we...
Did you happen to notice that the word, budget or cost was totally left out of the 2018 State of the Union message for the coming year? Our Congress lives on debt. Everything the government does represents more and more debt. We have generated close...
