US Debt Forum Articles

‘Borrowing’ from babies

While some economic pundits go gaga about the $1.9 trillion stimulus package (which is, by the way, a mere .6 trillion more than the fortunes of the world’s billionaires increased over a year’s worth of pandemic-fired profit taking), let’s remember that all this largesse comes with a large price tag for our children, their children, […]

No one is bothered by the deficit — why?

One of the most startling intellectual and political transformations of my lifetime concerns deficit spending. Politicians used to thunder about the dangers of the deficit. Sometimes they even did something about it. But the federal deficit this year is projected to be $3.4 trillion — even higher than last year’s record-breaking $3.1 trillion — and […]

The false promise of modern monetary theory

Once upon a time, not that long ago actually, the federal deficit and national debt mattered. In 2008, then-presidential candidate Barack Obama said, “We’re just taking out a credit card from the Bank of China, essentially. We’re borrowing that money. And we’ve added $4 trillion worth of debt since George Bush took office. Keep in mind, just […]

US Debt Forum to Host Free Webinars to Educate Americans on Their Government’s Financial Position and Failed 2020 Audited Financial Statements

SLEEPY HOLLOW, N.Y., March 29, 2021 /PRNewswire/ — On March 25, 2021, the Department of the Treasury released the 2020 Financial Report of the U.S. Government. Most Americans are unaware that the federal government annually prepares and publicly releases audited financial statements of the nation’s finances.   Janet Yellen, U.S. secretary of treasury, said in her introductory message, “The fiscal […]