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 […]
The time for platitudes and kicking the proverbial can down the road when it comes to making the tough choices to reduce our deficit spending and rein in our national debt has passed. For far too long, too many politicians have talked a good fiscal game while running America into a pending financial collapse. The […]
March 29 (Reuters) – U.S. sanctions against Russia should hasten a move by some countries to reduce their reliance on the U.S. dollar, which could also soften demand for Treasuries just as the Federal Reserve, the largest holder of U.S. debt, looks to cut its bond holdings. The United States and other Western nations have […]
If ever there was justification for sudden, expedited, large-scale federal expenditure, the COVID crisis was it. Americans faced a deadly pandemic. Governmental responses to it — some prudent, others panicky — had suppressed mobility, economic activity, and even basic personal freedoms to an unprecedented degree. Some federal relief was necessary. As is now clear, however, […]
