Month: January 2019

CBO – No End of Massive Deficits and Mounting National Debt

CBO today released its report – Budget and Economic Outlook for 2019 to 2029 and a visual summary A Visual Summary of The Budget and Economic Outlook: 2019 to 2029. As expected, it’s not good in the short, medium, and long-term. And, it is getting worse! It’s easy to get lost in the numbers and amount of […]

The Fleecing of Millennials

NYT Opinion Columnist, David Leonhardt,  wrote an article pointing out: “For Americans under the age of 40, the 21st century has resembled one long recession.  I realize that may sound like an exaggeration, given that the economy has now been growing for almost a decade. Their incomes are flat. Their wealth is down.  And Washington […]

Forbes – Has Our Government Spent $21 Trillion of Our Money Without Telling US?

Government Officials’ Mismanagement may have prevented 9/11. Their post 9/11 solution – Waste $Billions. NSA’s decision to scrap its inexpensive, in-house developed, and operational computer program THINTHREAD, which may have prevented 9/11 in favor of a plan to build a consultant driven, outsourced solution wasted billions of borrowed dollars and was subsequently scrapped. Who managed […]

Government Debt hits $66 Trillion – 80% of Global GDP

Government debt hits record $66 trillion, 80% of global GDP, Fitch says Jeff Cox| @JeffCoxCNBCcom A 1/23/19 CNBC article offers key points on global government debt. Following are some noted points from the article: Government debt hit $66 trillion through the end of 2018, or about 80 percent of global GDP, according to Fitch Ratings. […]

China is smart and has been around for Centuries. The US and its Mounting Debt?

The other reason for China’s slowdown: Debt From CNN Business’ Chris Isidore (1/24/19) Much of the discussion about the slowdown in China’s economy has focused on the growing trade dispute between China and the United States. But not enough attention has been paid to deliberate decision by the Chinese government to cut back on its […]

Davos – A Bleak Warning on Global Division and Debt

DAVOS, Switzerland — World Economic Forum, (1/22/19)   A Bleak Warning on Global Division and Debt A surprisingly alarming letter from an influential investor who studiously eschews attention has already emerged as a talking point. The letter says mounting debt since the financial crisis could lead to a panic. The letter, written by Seth A. Klarman, a billionaire […]

Elected Politicians’ Mismanagement in Iraq Forced Taxpayers to Borrow approx. Two Trillion Dollars

America’s hubris in Iraq: the history – On Thursday, the US Army War College published a monumental and authoritative history of the Iraq War. Peter Bergen called it a devastating portrait of blunders — by Defense Secretary Donald Rumsfeld and other American officials — that cited “an emboldened and expansionist Iran” as the only apparent […]

$22 Trillion – US Debt Spiraling Out of Control – Who You Going to Call…?

CBN – With US Debt Spiraling Out of Control at Nearly $22 Trillion, This Man Is Tasked With Slashing It 12-19-2018 Ben Kennedy THE WHITE HOUSE – The US deficit has been soaring every year for the past decade, and all that deficit spending has spiked the US national debt to a stunning $21.8 trillion. Washington racked […]

Skyrocketing Deficits? So What!

In a Bloomberg article, “Skyrocketing Deficits? So What, Says New Washington Consensus” the Editor writes: “With its plaintive call for balanced budgets, the fiscal hawk once pervaded Washington. But it’s getting harder to spot one. That’s because of President Donald Trump, and the equal-and-opposite reaction he’s provoked on the U.S. left. Trump is proving as […]

Deficit Spending – The Secret Behind Trump’s Economic Growth

Ben Holland, Bloomberg Editor, penned a 12/21/18 article noting: “Halfway through Donald Trump’s first term, it’s getting easier to piece together an account of how his policies are supposed to drive economic growth. And the economy is, in fact, expanding pretty fast –- but not necessarily for the reasons Trump said it would. The president […]