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Posts Tagged: “CBO“
Why the CBO Can’t Warn About an Inflation-Driven Debt Crisis
Longtime followers of infeneo (and its associated InFi podcast) know that I am no friend of Modern Monetary Theory (MMT). My chief complaint is that their ostensibly unorthodox ways of viewing government finance are incredibly misleading, at least in the hands of some of their most popular gurus. In today’s post I’ll give yet another example, this one coming from […]
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How Inflation Nearly Undermined the American Revolution
Inflation isn’t a new problem. In fact, it has plagued this country since its founding. Even though the American Revolution– and its monetary soundness– are worth celebrating, its lesser-known history reveals how war and inflation go hand-in-hand.
CBO Does Not Expect Revenue Surge to Last
After running the largest monthly surplus ever in April, the Treasury was back to running deficits in May. The Federal government spent $455B in May and collected $389B in taxes, which resulted in a net deficit of $66B.