Opinion by Steve Scalise and Tim Phillips Washington Post – Feb. 19, 2021 at 3:57 p.m. EST Steve Scalise, a Republican, represents Louisiana’s 1st Congressional District and is minority whip of the U.S. House. Tim Phillips is president of Americans for Prosperity, a grass-roots advocacy group. President Biden says the risk of coronavirus relief legislation is not in going too big […]
Economic Policy CBO’s deficit projections come the day after the Federal Reserve chair warned that unemployment remains very high By Jeff Stein Washington Post Feb. 11, 2021 at 6:56 p.m. EST America’s federal debt is set to exceed the size of the entire U.S. economy this year for only the second time since the end of […]
Business Insider, February 2021 – Ben Winck The Congressional Budget Office expects federal debt to reach 102% of US GDP in 2021. The estimate doesn’t account for the $1.9 trillion stimulus plan Democrats are set to pass. The CBO sees the debt pile then shrinking for a few years before rising into the next decade. […]
ProPublica – 1/14/21 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 watch. The financial burden that he’s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by […]
By THE WASHINGTON TIMES ANALYSIS/OPINION: No expense should be spared in the battle to defeat COVID-19, but the pandemic should not serve as an excuse for unbridled government bailouts. While federal dollars necessarily flow freely to fund life-saving vaccines, debts accumulated by the nation’s students don’t deserve the same emergency treatment. Forcing all taxpayers to add […]
Rep. Andy Biggs (R-Ariz.) is asking Americans to stand up with him for “good spending” legislation. He warned that the Democrats’ COVID-19 relief bill could cripple the economy for future generations. In a video message on Twitter on Friday, Biggs noted the nation has a $30 trillion debt, yet Democrats are ignoring the problem. He […]
On April 1, 2018, when Thad Cochran retired after 40 years as a U.S. senator from Mississippi, he made history; Cochran was the last Republican in Congress to have ever voted to increase federal taxes. He had done so on Dec. 19, 1990, when Republican President George H.W. Bush, deeply concerned about the rising federal […]
The U.S. Is Already Facing a Debt Crisis | Opinion MICHAEL DOORLEY, FOUNDER, U.S. DEBT FORUM Newsweek 2/3/21 AT 9:35 PM EST The U.S. economy is hooked on debt. It requires lots of it—crisis levels of it—just to maintain the economy. As a CPA and a well-informed, patriotic American, I was concerned about our rapidly […]
Traders and politicians are making new, risky arguments about low interest rates to justify their actions The Federal Reserve says it will keep short-term rates near zero for several years. By Greg Ip – Wall Street Journal The Wall Street bulls embracing sky-high stock values and the Washington pols embracing big deficits may be ideological […]
Does the National Debt Matter? KEY TAKEAWAYS Over the past 12 years, the national debt grew from $5.3 trillion to $20.5 trillion—or 400%—while national income grew only 30%. Many analysts and policymakers question whether high levels of debt and deficit spending are sustainable. Looking at the national debt from different perspectives sheds some positive light […]
