The time for platitudes and kicking the proverbial can down the road when it comes to making the tough choices to reduce our deficit spending and rein in our national debt has passed. For far too long, too many politicians have talked a good fiscal game while running America into a pending financial collapse. The […]
March 29 (Reuters) – U.S. sanctions against Russia should hasten a move by some countries to reduce their reliance on the U.S. dollar, which could also soften demand for Treasuries just as the Federal Reserve, the largest holder of U.S. debt, looks to cut its bond holdings. The United States and other Western nations have […]
If ever there was justification for sudden, expedited, large-scale federal expenditure, the COVID crisis was it. Americans faced a deadly pandemic. Governmental responses to it — some prudent, others panicky — had suppressed mobility, economic activity, and even basic personal freedoms to an unprecedented degree. Some federal relief was necessary. As is now clear, however, […]
Politicians must think voters live in an alternate reality. Why else would they push fantastic fictions about the boogeymen they claim are responsible for inflation, when every morning they see the culprit staring back at them in the mirror? The bill for years of unbounded spending and pandering for votes is coming due, and, as […]
In his State of the Union address, President Biden claimed he would, be “the only president to ever cut the deficit by more than $1 trillion in a single year.” While this is technically true, he ignores the fact that the reduction in the deficit will be due to the decreased expenditures associated with COVID-19 […]
WASHINGTON, March 23, 2022–(BUSINESS WIRE)–Today, Citizens Against Government Waste (CAGW) named Rep. Sheila Jackson Lee (D-Texas) our March 2022 Porker of the Month for calling the debt ceiling a “figment of your imagination in terms of its validity.” Taxpayers, who are bearing the costs of the $30 trillion national debt, should be concerned about Rep. […]
– House Speaker Nancy Pelosi, Friday, March 11 We say: Pelosi clearly thinks Americans will buy anything. The truth? When you spend more money than you take in, you simply have to borrow — as more Americans may now have to do, thanks to inflation’s hit on the dollar’s purchasing power. By the way, despite Pelosi’s flagrant disinformation, […]
For 90 years, the growing national debt has confounded alarmists. Regarding Jeb Hensarling’s op-ed “Debt and Inflation Threaten U.S. Security” (Feb. 23): There is no causal connection between the rate of inflation and the deficit or the level of outstanding Treasury obligations. There has been a deficit in each of the past 20 years, adding […]
Elon Musk, the CEO of SpaceX and Tesla, said Thursday that the record-high $30 trillion national debt is unsustainable. Musk responded to a headline from the Babylon Bee that read “Biden Goes Double Or Nothing On National Debt By Placing $30 Trillion On The Bengals” by arguing that there is nothing comical about the debt growing under President Joe Biden. […]
Senate ‘kicking the can down the road’ on national debt: Sen Mike Braun Sen. Mike Braun, R-Ind., weighs in on a potential government shutdown as senators race to pass stopgap spending bill. During an interview on “Mornings with Maria” Sen. Mike Braun said the Senate is “kicking the can down the road” over addressing national debt and called for a balanced […]
