And this is only the beginning of his big-government aspirations. Some emergencies require an increase in government spending, but that comes with an understanding that the higher levels of spending are unusual and will not be sustained. Unfortunately, this understanding seems to be lost on the Biden administration. Exhibit A is his proposed $6 trillion budget […]
A president’s budget proposal is a political document, the first step in a months-long negotiation with Congress. While it’s not surprising that President Biden’s first budget includes new spending seemingly aimed at pleasing key voting blocs, the scale of his $6 trillion spending plan is both unprecedented and risky. Biden’s budget would rack up record-shattering […]
Summary The federal debt is $28.3 trillion and rising. The trade deficit is worsening. Inflation has arrived. The US dollar is depreciating. Photo by DNY59/E+ via Getty Images This article considers the present plight of the US dollar with respect to the federal debt, the trade deficit, inflation and depreciation. Investors should pay […]
The annual budget deficit has already hit $1.9 trillion and counting for the fiscal year that will end in September, according to the U.S. Treasury’s April statement, and it will reach as high as $3.6 trillion this year, says the White House Office of Management and Budget (OMB). Comparatively, in 2020, the deficit totaled about […]
