Month: May 2021

Here Are 3 Glaring Consequences of the $6 Trillion Budget Biden Just Proposed

History will not remember President Biden for his frugality. The president has already signed into law a massive multi-trillion-dollar “COVID” stimulus spending package and proposed trillions more in “infrastructure” spending. Now, the White House has released its budget request for Fiscal Year 2022—a stunning $6 trillion. “President Biden will propose a $6 trillion budget on Friday that would take the […]

Wall Street is facing a $9 trillion problem

London (CNN Business)Central banks were the superheroes of the early phase of the pandemic, taking dramatic steps to save the economy and financial markets from ruin. Now, as the recovery kicks into gear, they’ve become a major risk for investors. What’s happening: The latest reading of the Back-to-Normal Index from CNN Business shows that the US economy’s comeback is […]

VAN HOLLEN, SCHATZ, FOSTER, BENNET, INTRODUCE LEGISLATION TO REPEAL DEBT CEILING

U.S. Senators Chris Van Hollen (D-Md.), Brian Schatz (D-Hawaii), Michael Bennet (D-Colo.), and U.S. Representative Bill Foster (D-Ill.) introduced legislation to repeal the national debt ceiling, an arbitrary limit set by Congress on the amount of funding that the United States Treasury may borrow. “When partisan politics raises the specter of defaulting on Treasury bonds, […]

TOM PURCELL: Never save for a rainy day!

\When I grew up in the 1970s, my father taught my sisters and me to “always save for a rainy day.” He was a child of the Depression, after all, one of the longest “rainy day” periods Americans have ever experienced. In 2021, however, America’s new national mantra appears to be “borrow and spend like […]

Letter: The national debt is both parties’ problem

The May 1 letter to the editor “Opinions should be based on facts” reminds me of the saying “dishonest people make biased arguments while pretending it’s objective truth.” How much each American president contributed to the national debt can be easily confirmed by simply googling “how much did the national debt grow under each president,” […]

The US balance sheet is out of whack

Americans are running up against Monday’s deadline to file their taxes — a month late in this pandemic year — and leaders in Washington have designs on spending even more taxpayer money going forward. Most of the $3.5 trillion the government brings in — about $1.9 trillion — is from you and people like you, in the […]