• The World Is Drowning in Debt

    The World Is Drowning in Debt

    According to the International Monetary Fund (IMF), global fiscal support in response to the crisis will be more than $9 trillion, approximately 12 percent of world GDP. This premature, clearly rushed, probably excessive, and often misguided chain of so-called stimulus plans will distort public finances in a way which we have not seen since World War …
  • $1200 Is NOTHING Compared To Double Digit Trillions

    $1200 Is NOTHING Compared To Double Digit Trillions

    Maybe “budget” wasn’t really the word they were looking for. How else to explain the face of bipartisan agreement to a two year “budget” deal that lifts the debt limit and increases federal spending by $300 billion. If that’s their idea of “budgeting”, let’s just be grateful they didn’t call the agreement “Splurge 2018”. This …
  • Governments often break their promises. Especially about taxes

    Governments often break their promises. Especially about taxes

    One thing governments show us over and over again is their promises are almost always broken. This should concern us greatly since the “war” on COVID-19 will bring many promises from Congress that will never be realized but will cost us a lot of money anyway. Our federal government promised to balance the budget every …
  • If we were to pay the federal debt at the rate of $1,000 every second, it would take more than 800 years to pay it off.

    If we were to pay the federal debt at the rate of $1,000 every second, it would take more than 800 years to pay it off.

    The federal debt numbers have become so absurdly large that almost no one but mathematicians really appreciates them. Even before our nationwide COVID-19 panic attack, we were heading for yet another trillion dollar deficit. Before the dust settled, 30 million Americans had filed for unemployment, those fortunate enough to have jobs were figuring out how …
  • 18 Facts on the US National Debt That Are Almost Too Hard to Believe

    18 Facts on the US National Debt That Are Almost Too Hard to Believe

    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 debt will someday become due and payable. However, there is …
  • CBO Predicts Deficit Will Reach $3.7 Trillion By End of Fiscal Year Due to Coronavirus Spending

    CBO Predicts Deficit Will Reach $3.7 Trillion By End of Fiscal Year Due to Coronavirus Spending

    The Congressional Budget Office on Friday announced that the federal government would likely run up a $3.7 trillion deficit due to the effects of the coronavirus pandemic on the U.S. economy and massive spending for relief efforts. The government will add over $2 trillion to the national debt in the remaining six months of the …
  • Citing Budget Deficit Concerns, Kentucky Republican Says He Could Delay House Vote on Coronavirus Bill

    Citing Budget Deficit Concerns, Kentucky Republican Says He Could Delay House Vote on Coronavirus Bill

    Rep. Thomas Massie (R-KY) on Capitol Hill in Washington, July 24, 2014. A Kentucky Congressman said he would vote against the Senate’s phase-three economic relief package that passed 96-0 on Wednesday night, citing concerns that the $2-trillion-dollar bill would worsen the already-growing national debt. Representative Thomas Massie (R., Ky.) told 55 KRC radio Thursday morning …