At this rate, the U.S. national debt could top $34 trillion when the world flips the calendar to 2024. Since Friday the 13th, the national debt has risen by more than $60 billion to above $33.59 trillion, according to the Treasury Department. While this is short of the $275 billion increase in a single day, […]
National Debt
Uh, CNN? MSNBC? Joe Biden claims he cut ‘the debt’ by $1.7 trillion in his first two years
President Joe Biden has a flair for lying. It is his special talent. The latest fib occurred a few days ago when he told the audience at a Democratic National Committee (DNC) fundraiser that his administration cut “the debt” by $1.7 trillion in his first two years in office. That’s right. “The debt.” “The two […]
Robert Reich or Wrong? Tax Cuts Did Not Fuel Debt Explosion
By: Andrew Moran The US is embroiled in another political theater of the absurd. This time it is the debt ceiling: Republicans are politely asking to enact spending reforms, Democrats are demanding to raise it, and former Labor Secretary Robert Reich is blaming everything on tax cuts. Like fellow Keynesian economist Paul Krugman, Reich is on […]
Treasury forecasts debt as a percentage of GDP will soar to 700% by 2090
The Treasury Department has zero faith that the U.S. government will ever resolve its addiction to the national debt. Or does it think that it can just forever monetize the debt? Whatever the case, new projections from the Treasury suggest that the federal debt held by the public as a percentage of GDP will soar […]
Uh, fact-checkers? Joe Biden claims he cut the national debt in half
President Joe Biden says a lot of weird stuff, most of which are just plain lies. Whether it is the tragic loss of his son or economic data, Biden cannot help but fib all the time. His latest claim is that he slashed the national debt in half, although it topped $31 trillion just a […]