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Posts Tagged: “budget deficit“
Fiscal Federalism: Reducing Federal Funding for Local Governments
With over $36 trillion in debt, the United States government must recklessly slash spending to avoid economic catastrophe. One often overlooked solution to this spending problem is fiscal federalism– the notion that local governments should fund themselves and not be tied to the will of Washington, D.C.
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Federal Budget: Government Adds $662B of Debt in Three Months
Federal Budget The Federal Government publishes the spending and revenue numbers on a monthly basis. The charts and tables below give an in-depth review of the Federal Budget, showing where the money is coming from, where it is going to, and the surplus or deficit.
What a Difference Two Weeks Makes! SchiffGold Friday Gold Wrap Dec. 15, 2023
Two weeks ago, Federal Reserve Chairman Jerome Powell said it would be “premature” to conclude that monetary policy is sufficiently restrictive. This week, the Fed indicated rate cuts are on tap for next year. What a difference two weeks makes! In this episode of the Friday Gold Wrap, host Mike Maharrey breaks down this week’s […]
Biden Administration Runs Record November Budget Deficit
The Biden administration just ran the largest November budget deficit in history. And it managed this feat even with a 9% increase in government receipts.
The Fed Is Losing Billions and It Could Take Four Years to Make It Up
The Federal Reserve has lost well over $100 billion dollars, and even when it returns to “profitability,” it will likely take over four years before the central bank is completely in the black. And you’re going to foot the bill.
The Fat Lady Hasn’t Sung a Note: SchiffGold Friday Gold Wrap November 17, 2023
Everybody seems convinced that the Federal Reserve has won the inflation fight, there will be no more interest rate hikes, and rate cuts are right around the corner. But as Friday Gold Wrap host Mike Maharrey reminds us, it’s not over until the fat lady sings. And she hasn’t sung a note. In this episode, […]
US Government Kicks Off Fiscal 2024 With Another Big Budget Deficit
After running the third-largest budget deficit in US history in fiscal 2023, the Biden administration kicked off fiscal 2024 with another big budget shortfall.
Moody’s Lowers US Credit Outlook to “Negative”
Mainstream media pundits and politicians generally act unconcerned about the skyrocketing national debt and ever-growing budget deficits, but somebody has taken notice. On Friday, Moody’s Investor Service lowered its outlook on US government credit from “stable” to “negative.” This could be a prelude to a downgrade in the country’s AAA credit rating. The agency typically […]
Mounting Government Debt Marks America’s Road to Ruin
There is a $33.7 trillion elephant in the living room. I’m referring to the massive national debt. It’s pretty amazing that we have this massive animal sitting right in the middle of everything and most people are just walking around it as if it isn’t there.
Peter Schiff: The US Isn’t Japan — It’s Argentina!
Does the massive national debt matter? A lot of people don’t think it does, at least not yet. They point to Japan as an example of a country that has a much higher debt-to-GDP ratio and is doing fine. Peter Schiff said they’re looking at the wrong country. The US is more like Argentina than […]
Biden Administration Runs Third-Largest Budget Deficit in US History
The Biden administration ran a $1.695 trillion budget deficit in fiscal 2023. It was the third-largest deficit in US history. The only time the US government ran bigger deficits was during the COVID years of 2020 and 2021. The government closed out the year with a $170.98 billion deficit in September, according to the final […]