Is debt dangerous? It depends. In a rare show of bipartisan politics, both this administration and the previous one seem to say “no”. With a compliant Federal Reserve Bank, it appears there is no limit to the spending funded by borrowing more. I suppose it is true to say, “as long as there are no […]
Out-of-control government spending is a dangerous problem that both political parties are failing to address. The national debt of the United States is $28 trillion and rising and the federal government continues to run massive deficits. The COVID-19 pandemic has only escalated government spending. The national debt represents a significant crisis for the nation. A […]
Fed Chair Jerome Powell said this week that while US government borrowing at current levels is “unsustainable,” the current debt level is “very sustainable” and won’t be a concern in the near-term. “The US federal budget is on an unsustainable path, meaning simply that the debt is growing meaningfully faster than the economy,” he said […]
Does anyone actually care? At the moment, our national debt exceeds $28 TRILLION — about 80% held as public debt and the rest as intragovernmental debt. That is $225,000 per taxpayer. Federal annual spending this year is almost $8 trillion, and more than half of that is deficit spending — piling on the national debt. If that […]
WYOMING — Wyoming Senator Cynthia Lummis is co-sponsoring a bill entitled, Sustainable Budget Act of 2021, aimed at addressing the nation’s budget and national debt. She announced the legislation yesterday, April 15. According to a press release from Senator Lummis’s office, the Sustainable Budget Act would create an 18-member bipartisan national commission to find and […]
Congress continues to take actions that directly threaten the US position as a world leader The United States has long held a privileged position on the world stage. Our economy is strong. We build businesses, innovate solutions and pioneer new technologies. We are the centerpiece of the global economy, with nations looking to our systems and our currency […]
BOSTON — The latest pandemic relief bill that is showering Americans with stimulus checks pumped billions of dollars into the economy to help keep it afloat. But the American Rescue Plan Act, which was lauded by President Joe Biden as a lifeline for the country, is expected to add more than $1.9 trillion to the […]
KEY POINTS The U.S. economy is widely expected to show its biggest growth this year since 1984. But once the drivers of the growth, primarily government spending and the pandemic rebound, fade away, the path beyond that looks challenging. Economic inequality is one issue; another is the fiscal issues that the stimulus will leave behind. […]
At the height of the Great Depression, President Franklin Roosevelt put America to work. In 1935, when 1 in 5 Americans were unemployed, Washington launched the Works Progress Administration, still the largest public works initiative in the country’s history. Its initial appropriation was $4.9 billion (about $90 billion in today’s dollars), and within three years, […]
Former U.S. Sen. Robert Stafford was no friend of President Ronald Reagan. He was one of the last liberal Republicans in the Senate and, due to his seniority, exercised power disproportionate to the diminutive state that elected him. And true to the Vermont stereotype, he openly challenged the popular president whenever his displeasure over national […]
