Americans have less money than they had last year – though taxes haven’t been raised. So what’s the problem? Inflation, which has increased at a 40-year high annual pace of 7.9%. It acts as a hidden tax because we don’t see it listed on our tax bills, but we sure see less money in our […]
The annualized interest payment on the $30-plus trillion US national debt increased by over $16 billion in just six months. With the COVID crisis seemingly in the rear-view mirror, the economy allegedly strong, and the Fed raising interest rates to supposedly fight inflation, you’d think this might be a good time for the government to address […]
U.S. Rep. Tom Reed believes the United States’ future is at risk, not because of growing tensions with foreign leaders, but because of its increased debt On Wednesday, Reed talked about President Joe Biden’s $5.8 trillion budget proposal, calling it “a political document,” something Democrats and Republicans are both guilty of.“It’s not really about trying to address […]
ANN ARBOR, MI — Ali Ramlawi joined his Ann Arbor City Council colleagues this week in approving a spending plan for $24 million in federal stimulus funds, but he felt conflicted. “This $24 million — it’s not our money,” he said of the city’s share of pandemic-recovery funds under the $1.9 trillion American Rescue Plan Act […]
During a Budget Committee meeting on President Biden’s $5.8 trillion Fiscal Year 2023 budget, U.S. Senator Mitt Romney (R-UT) discussed the urgent need to tackle the national debt. The Utah senator uses examples of collapsed economies from around the world, citing Greece and Italy, to warn of what the U.S. could face if we continue […]
Both Republicans and Democrats need to confront the relentless buildup of debt that threatens the nation’s strength in a dangerous world. Then-presidential candidate Ohio Gov. John Kasich, left, points to a digital national debt clock during a campaign stop in 2016. The debt today has surpassed $30 trillion. John Minchillo, Associated Press The […]
Fiscal sanity and economic strength are foundational to national security Is America serious about survival in this increasingly dangerous world? President Joe Biden’s $5.8 trillion budget says no. So does the recent $1.5 trillion earmark-filled spending bill. They send the message that America doesn’t care about the fiscal sanity and economic strength on which our national security […]
“Blessed are the children since they shall inherit the national debt.” That was a phrase that President Herbert Hoover uttered several times in the 1930s when the debt total was nowhere near what it is today. For the first time ever, the U.S. national debt has surpassed $30 trillion. President Hoover obviously was worried […]
Why Joe Biden’s budget will bankrupt the United States The Roman Empire fell when the state could no longer obtain sufficient resources through taxation and was forced to debase its currency to raise revenue. The tax reforms of Diocletian in the third century were so draconian that many landowners were driven to bankruptcy, as those […]
Democrats and Republicans alike stuffed nearly 5,000 earmarks totaling $9 billion into the $1.5 trillion government spending bill signed by President Biden. Each circle represents an earmark, with smaller projects on the left and larger ones on the right. $10 mil. $25 mil. $100 mil. Democrats $5 billion (3,682 earmarks) $52 million to demolish four […]
