Month: May 2022

Biden’s Deficit Spin

In recent speeches, President Joe Biden has been misleadingly taking credit for cutting federal deficits by historic amounts, though most of the reduction in deficits is the result of expiring emergency pandemic spending. Deficits fell between fiscal year 2020 and 2021 far less than initially projected after Biden added to them with more emergency pandemic […]

Article misled by confusing national debt with the budget deficit

  The May 5 article on federal deficits and debt (“Biden will continue to reduce deficit, he says”) had a glaring mistake in its opening sentence. Washington Post reporter Eugene Scott wrote in the article The Plain Dealer reprinted that the Biden administration will be “paying down the debt for the first time in six […]

The National Debt Was a Lot Smaller the Last Time Inflation Was This Bad

The crab bisque index is flashing a warning signal for Real Money Columnist Jonathan Heller. Real Money Columnist Jonathan Heller has been looking back to the 1970s to gain some perspective of rising inflation rates these days. He’s using some familiar consumer products to take the measure of rising prices. “Recently, I have been served […]

Could inflation be a good thing for governments in debt?

Here’s one fact about inflation – it reduces the real value of debt. So in these times of historic high inflation, our colleagues Adrian Ma and Wailin Wong over at The Indicator From Planet Money wanted to explore if inflation can be a good thing for borrowers, specifically those big borrowers, national governments. WAILIN WONG, […]

Canceling Student Debt Isn’t Free. Here’s Who Pays For It

With President Joe Biden considering canceling up to $10,000 in federal student loans per borrower, a long sought after policy dream for millions of Americans who struggled with years of repayment could become a reality. But student loan cancellation isn’t a magic wand that makes those loans disappear—they’ll have to be paid for somehow. But the […]