Month: July 2021

Federal budget deficit continues to grow big

      As a nation, we have become addicted to budget deficits. Each year, we have to borrow fund government operations. And most people, including our legislators, do not seem to care or take notice. As readers realize, a budget deficit occurs when expenses exceed revenue. Accrued deficits form the national debt. Thus, the […]

An Ocean of Red Ink as Far as the Eye Can See

Visual Capitalist has created an interactive visualization of the publicly-held portion of the U.S. government’s public debt. It covers 150 years, combining historic data from 1900 through 2020 with CBO projections for the next 30 years. You’ll need to follow the link above to take advantage of the interactivity, but here’s the big picture they created: […]

Opinion: Biden’s budget would beget the Italian Republic of America

By trying to fix every social problem, Biden would cripple the U.S. economy with higher taxes and regulations The White House wants to spend a lot of money, but even its predictions don’t show very much extra growth in coming years. Joe Biden ran on a platform to Build Back Better—strengthen the American economy at […]

How Biden’s Fiscal Policy Affects the Deficit, the Debt, and You

A Look into the Nation’s Fiscal Future and its Possible Outcomes According to the Treasury Department, the budget deficit for the first seven months of this fiscal year was $1.93 trillion – an all-time high. The United State’s national debt is over $28 trillion and counting. Last fiscal year’s deficit was $3.13 trillion, which is the largest it’s […]