We are spending money we simply don’t have, and it will come back to bite us. No one seems to be talking about the national debt, which hit a whopping $28 trillion this month. Does anyone care? We should. I know and realize our country is fighting this deadly pandemic. But there will always be […]
Despite overseeing trillions of dollars of red ink during Donald Trump’s presidency, the GOP is rediscovering its past embrace of fiscal discipline. After getting steamrolled by Democrats on President Joe Biden’s $1.9 trillion coronavirus aid plan, Republicans are planning to fight back. And it could mean an autumn of stalemates over raising the debt ceiling, […]
Legislators view the disease as a license to spend like there’s no tomorrow. The “recovery rebates” that Americans began receiving this week supposedly have something to do with the economic damage caused by COVID-19 and the control measures it inspired. But like most of the so-called American Rescue Plan Act, these payments, which account for more […]
“The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money,” Alexis de Tocqueville supposedly said after an 1831 visit to the United States. Whether or not the French diplomat and political scientist actually made this observation is a subject of debate. But whoever came up […]
Opinion by Scott Jennings (CNN)President Joe Biden’s speech Thursday night contained a long section about “the truth,” and he said the truth is that the only way to get our lives back to normal is to “beat the virus.” If he believes that, why did so little of the Covid relief bill he signed today go toward […]
To the editor: This pouring of money to everyone needs to stop. Yes, we need to help those through no fault of their own caused them to lose their jobs. It is our “politicians” who drove them to poverty. It is our politicians who wish to make our citizens wards of the state who did […]
For the same $6 trillion in expenditure, the government could have given every federal taxpayer a $41,870 check. President Biden just signed his sweeping $1.9 trillion spending package into law. Once this bill hits the books, total taxpayer expenditure on (ostensibly) COVID relief will hit $6 trillion—which, roughly estimated, comes out to $41,870 in spending per federal taxpayer. Did you see anywhere […]
Data analyzed by Finbold indicates that the top five countries globally with the highest public debt added $9.17 trillion between March 2020 and March 2021. The United States leads with the debt growing by $4.57 trillion from $23.45 trillion to $28.0.2 trillion. Elsewhere, Japan’s public debt has grown from $11.42 trillion to $14.64 trillion. Cumulatively, […]
The “King of Debt” promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president. One of President Donald Trump’s lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his […]
Servicing the national debt costs nearly four times what the federal government will spend on K-12 education and over eight times what it will spend on research and development. Interest payments are large despite the fact we are in an extremely low interest rate environment. As interest rates rise, the costs of carrying the debt […]
