Peter's Blog

National Debt Tops $22 Trillion

The national debt has pushed beyond the $22 trillion mark. According to Treasury Department data released Tuesday, the national debt now stands at $22.01 trillion. When President Trump took office in January 2017, the debt was at $19.95 trillion. That’s a $2.06 trillion increase in the debt in just over two years. 

The US Government Has Spent Itself Inbetween a Rock and a Hard Place

As we pointed out in an article last week, the US federal government has added $1.5 trillion to the national debt over the last 12 months. As a result, the US Treasury Department is flooding the market with bonds. Meanwhile, the biggest buyers of US debt – China, Japan and the Federal Reserve – are […]

Merry Christmas from Uncle Sam — You Got More Debt!

Between Christmas 2017 and Christmas 2018, the US government added a staggering $1,370,760,684,441.54 to the national debt, according to Treasury Department figures. If you split that up between all American, your share of Uncle Sam’s 2018 spending spree comes to about $4,178.10. Merry Christmas! You’re welcome.

China and Japan Dump More US Debt

China and Japan dumped more US Treasuries in October, even as the federal government continued to run up its debt. Chinese holdings of US Treasuries dropped for the fifth straight month, sinking to the lowest level since May 2017, according to data recently released by the Treasury Department. The total amount of US debt held […]

Peter Schiff: The Economy Is Fundamentally Weak (And Is Sex Really Better Under Socialism?)

Stocks continued to get pummeled and pundits continue to claim there’s nothing to worry about. They say the economy is fundamentally strong. But is it? Really? Peter Schiff doesn’t think so.

Uncle Sam Runs Record $205 Billion Deficit in November

Washington D.C. just keeps right on spending. The U.S. federal government ran a $204.9 billion deficit in November, according to the most recent Treasury Department report. That set a record for the month of November.

Peter Schiff: Could Soaring Twin Deficits Bring on an October Surprise?

As we head into the month of October, it’s interesting to note that two of the worst stock market crashes in history during this month. Of course, we had the 1929 Wall Street crash that kicked off the Great Depression, and there was also the Black Monday stock market crash in 1987. As Peter Schiff noted in […]

Feds Set Monthly Spending Record: The Swamp Is Now Bigger and More Expensive than Ever

As Peter Schiff put it in a Facebook post, Trump promised to drain the swamp, but today, “The swamp is now bigger and more expensive than ever!” The US government spent a record $433.3 billion last month, running up a monthly deficit of $214 billion, according to data released by the US Treasury Department. That’s $433 BILLION […]