The US government ran another huge budget deficit in April. The shortfall came in at $225.58 billion, running the total budget deficit through the first seven months of fiscal 2021 to a record $1.9 trillion, according to the Treasury Department's M
Every dollar that the federal government borrows and spends puts us even closer to a day of reckoning.
The Treasury Department says it will employ measures to avoid an unprecedented default on the national debt this summer, but officials say those measures could be exhausted "much more quickly" than normal given the unusual circumstances of the g
--and return $14 billion to the Department of Defense as migrant crisis spirals
Joe Biden may not be a radical socialist, but he is doing the best imitation of one this writer has lately seen.
Federal taxes, spending and the federal deficit all set records in the first six months of fiscal 2021 (October through March), according to the Monthly Treasury Statement.
Through the first six months of fiscal 2021, the US government ran a record $1.7 trillion budget deficit. Federal Reserve Chairman Jerome Powell said this is sustainable – for now.
"We are now speeding down the road of wasteful spending and debt, and unless we can escape we will be smashed in inflation."--Herbert Hoover
Despite progressive lawmakers in his own party long demanding a serious reduction in the Pentagon's notoriously bloated budget, President Biden on Friday is expected to request a whopping $715 billion for the Pentagon for fiscal year 2022.
Suppose a planet hurtling in space enters our solar system and begins circulating around the sun. The planet is perfectly habitable for humans.
Pentagon chiefs, concerned that China may already have advanced UFO technology, commissioned Dr Salvatore Pais to build a new kind of aircraft that can travel at incredible speeds
Update (1615ET): Biden and his team are in Pittsburgh - the city where he held his first campaign rally nearly 2 years ago - where he will be unveiling his "American Jobs Plan", the first part of his sweeping "Build Back Better" initiative.
On Wednesday, President Biden will unveil the first part of a two-part stimulus plan aimed at infrastructure, climate change, and social programs.
The latest academic voodoo doll tossed at Fossil Fuels is a study claiming that the industry gets $65 billion in "implicit" subsidies in the US.
And Maybe A VAT Will Pay For It I'd been idly hoping that the sticker shock of what Biden wants, upwards of $3 trillion, would scare Manchin away or at least lead him to give the infrastructure bill a serious haircut. (A shaved head, really.)
A $1.9 trillion stimulus package was recently signed into law in the United States. Can such a stimulus bill, plus packages passed in other countries, really pull the world economy out of the downturn it has been in 2020? I don't think so.
Democracy is useful for the peaceful transfer of power. However, in an of itself, Democracy does not equal "Freedom." In fact, neither the Declaration of Independence, nor The U.S. Constitution mention the word "Democracy" anywhere. Is it a coinciden
It's simply naive and ignorant of human nature to expect people--especially the kind of people who become politicians--to dole out trillions of dollars without any hint of favoritism or impropriety.
Households across the US rejoiced over the weekend as they received their first stimulus checks.
Did You See That Much in Benefit? For the same $6 trillion in expenditure, the government could have given every federal taxpayer a $41,870 check.
"And as if in answer there came from far away another note. Horns, horns, horns, in dark Mindolluin's sides they dimly echoed. Great horns of the north wildly blowing. Rohan had come at last."
"The Great Experiment begins" as the $1.9 trillion bucket of lard was passed entirely along partisan lines...
According to the Congressional Budget Office (CBO), 2021 will be the second year in a row in which the federal debt exceeds Gross Domestic Product (GDP).
Confronted with a severely weakened economy as the consequence of the policy-ordered lockdowns, governments now get ready to apply another severe blow to the economy.
It is possible that we might soon be witness to the first global inflationary depression.
'This Is Just the Start of What Congress Can Do'