Month: March 2021

No one is bothered by the deficit — why?

One of the most startling intellectual and political transformations of my lifetime concerns deficit spending. Politicians used to thunder about the dangers of the deficit. Sometimes they even did something about it. But the federal deficit this year is projected to be $3.4 trillion — even higher than last year’s record-breaking $3.1 trillion — and […]

The false promise of modern monetary theory

Once upon a time, not that long ago actually, the federal deficit and national debt mattered. In 2008, then-presidential candidate Barack Obama said, “We’re just taking out a credit card from the Bank of China, essentially. We’re borrowing that money. And we’ve added $4 trillion worth of debt since George Bush took office. Keep in mind, just […]

US Debt Forum to Host Free Webinars to Educate Americans on Their Government’s Financial Position and Failed 2020 Audited Financial Statements

SLEEPY HOLLOW, N.Y., March 29, 2021 /PRNewswire/ — On March 25, 2021, the Department of the Treasury released the 2020 Financial Report of the U.S. Government. Most Americans are unaware that the federal government annually prepares and publicly releases audited financial statements of the nation’s finances.   Janet Yellen, U.S. secretary of treasury, said in her introductory message, “The fiscal […]

CBO: Our New Debt Projections Are Already Obsolete

The old news was bad, the new news will be worse. Earlier this month, the Congressional Budget Office released its Long-Term Budget Outlook. In a presentation this week, the CBO director warned that the report did not take into account the recently signed American Rescue Plan Act, and that things will very likely be worse than the official projections we are […]

Biden blasts Republicans for suddenly caring about the national debt now that a Democrat’s in the White House

President Joe Biden talks to reporters during the first news conference of his presidency in the White House. Chip Somodevilla/Getty Images Biden said Republicans suddenly care about the national debt again, at a Thursday press conference. “I love the fact they found this whole idea of concern about the federal budget. It’s kind of amazing,” he […]