Donald Trump, the former U.S. president who’s running in this year’s White House race on the Republican ticket, has surprised many with his embrace of bitcoin and crypto this year. Trump’s support of bitcoin—a complete flip from 2019 when he railed against crypto—comes after he made millions from a series of crypto-based digital trading card collections […]
When President Joe Biden delivered his 2023 State of the Union address, Washington was drowning in a sea of red ink. The annual budget deficit was in the process of doubling from $1 trillion to $2 trillion in a single year due to some student-debt cancellation shenanigans. That year’s budget deficit would become the largest […]
At a Bitcoin conference last weekend, Senator Cynthia Lummis (R-Wyo.) announced forthcoming legislation that would direct the Treasury to buy 1 million Bitcoin, or roughly 5% of the global stock, over five years (which would cost between $60 billion and $70 billion at today’s prices). Lummis claimed that the federal government would be “debt-free because of Bitcoin” […]
Former President Donald Trump recently proposed using Bitcoin or a “crypto check” to pay off the United States government’s staggering $35 trillion national debt and avert a looming debt crisis. In an interview with Maria Bartiromo of Fox News, the Republican Party’s 2024 presidential election nominee praised the crypto industry and reiterated his stance that […]
The white noise of American politics is the gurgling river of rhetoric from two presidential candidates who seem determined to say nothing germane about the nation’s domestic misgovernance and deteriorating security. The candidates are wagering that there are no serious consequences of prolonged unseriousness. Last Monday, the national debt “unexpectedly” surged past $35 trillion. Neither candidate seemed to notice. But, […]
‘Republicans and Democrats … always seem to work just fine when they’re spending your money,’ Haley said PALM BEACH, Fla. – Nikki Haley blamed President Biden and Democrats as well as also her one-time boss and current rival for the 2024 Republican presidential nomination, former President Donald Trump, over massive government spending. In a speech Saturday to […]
President Biden wrongly claimed Tuesday that he slashed the national debt by $1.7 trillion — despite increasing it by about $3.84 trillion over his first two years in office. The 80-year-old president made the error — apparently as a result of confusing the terms “debt” and “deficit” — while bashing House Republicans as irresponsible for demanding […]
It wasn’t so long ago that some experts said not to worry about government debt, that a country like the U.S. with debt in its own currency had little concern. That was the Modern Monetary Theory (MMT) take, at least. An economic thesis for a reality that included social issues, politics, and the messy emotional […]
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 […]
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 […]
