Mitchell Nemeth – Foundation for Economic Education, September 17, 2019 There is hesitation among the political class as to what must be done to pay down and eliminate this debt. At around $22.5 trillion, the United States national debt sits at 106 percent of Gross Domestic Product (GDP). There is no disputing that this gigantic […]
CBO today released its report – Budget and Economic Outlook for 2019 to 2029 and a visual summary A Visual Summary of The Budget and Economic Outlook: 2019 to 2029. As expected, it’s not good in the short, medium, and long-term. And, it is getting worse! It’s easy to get lost in the numbers and amount of […]
NYT Opinion Columnist, David Leonhardt, wrote an article pointing out: “For Americans under the age of 40, the 21st century has resembled one long recession. I realize that may sound like an exaggeration, given that the economy has now been growing for almost a decade. Their incomes are flat. Their wealth is down. And Washington […]
Government Officials’ Mismanagement may have prevented 9/11. Their post 9/11 solution – Waste $Billions. NSA’s decision to scrap its inexpensive, in-house developed, and operational computer program THINTHREAD, which may have prevented 9/11 in favor of a plan to build a consultant driven, outsourced solution wasted billions of borrowed dollars and was subsequently scrapped. Who managed […]
Government debt hits record $66 trillion, 80% of global GDP, Fitch says Jeff Cox| @JeffCoxCNBCcom A 1/23/19 CNBC article offers key points on global government debt. Following are some noted points from the article: Government debt hit $66 trillion through the end of 2018, or about 80 percent of global GDP, according to Fitch Ratings. […]
The other reason for China’s slowdown: Debt From CNN Business’ Chris Isidore (1/24/19) Much of the discussion about the slowdown in China’s economy has focused on the growing trade dispute between China and the United States. But not enough attention has been paid to deliberate decision by the Chinese government to cut back on its […]
DAVOS, Switzerland — World Economic Forum, (1/22/19) A Bleak Warning on Global Division and Debt A surprisingly alarming letter from an influential investor who studiously eschews attention has already emerged as a talking point. The letter says mounting debt since the financial crisis could lead to a panic. The letter, written by Seth A. Klarman, a billionaire […]
America’s hubris in Iraq: the history – On Thursday, the US Army War College published a monumental and authoritative history of the Iraq War. Peter Bergen called it a devastating portrait of blunders — by Defense Secretary Donald Rumsfeld and other American officials — that cited “an emboldened and expansionist Iran” as the only apparent […]
CBN – With US Debt Spiraling Out of Control at Nearly $22 Trillion, This Man Is Tasked With Slashing It 12-19-2018 Ben Kennedy THE WHITE HOUSE – The US deficit has been soaring every year for the past decade, and all that deficit spending has spiked the US national debt to a stunning $21.8 trillion. Washington racked […]
In a Bloomberg article, “Skyrocketing Deficits? So What, Says New Washington Consensus” the Editor writes: “With its plaintive call for balanced budgets, the fiscal hawk once pervaded Washington. But it’s getting harder to spot one. That’s because of President Donald Trump, and the equal-and-opposite reaction he’s provoked on the U.S. left. Trump is proving as […]
