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America’s Federal Budget On ‘Unsustainable Path,’ Warns Fed Chair Jerome Powell

Federal Reserve Chair Jerome Powell warned Wednesday that the federal budget is on “an unsustainable path” due to rising levels of federal debt. Powell told the Joint Economic Committee that the “high and rising federal debt,” which now tops $23 trillion, could make it difficult for the economy to recover from future market downturns. “In a downturn, it would also ...

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Once Outspoken Fiscal Hawks, Republicans Quietly Watch As National Debt Hits $23 Trillion

Republicans who once criticized former President Barack Obama’s handling of U.S. debt quietly watched as the federal government debt hit $23 trillion for the first time in history. Treasury Department data show the national debt rose past $23 trillion Thursday, and almost $17 trillion out of this number is debt held by the public. The remaining $6 trillion comes from ...

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Congress Wants Thousands More Acres Under Federal Control, but US Can’t Afford It

A lengthy public lands package sitting in Congress adds hundreds of thousands of acres of federally protected wilderness without securing funding to manage it. The House is preparing to vote on a bipartisan land package next week that is roughly 660 pages and composed of 118 different bills. The Senate version passed its version, the most comprehensive land package in ...

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This Debt Kicks Can – Ben Garrison Cartoon

The national debt is now over $22 trillion and continues to skyrocket. Meanwhile, a bipartisan Congress passed another bloated budget package that Trump will sign—even though they gave him a fraction of what he wanted for the southern border wall. That, however, is a subject for a separate cartoon. Congress passed the massive spending deal and many didn’t even bother ...

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One Nation Under Debt

By Jeff Szymanski, AMAC Yoga classes for bureaucrats. Brown snake eradication program. Congressional pensions. Pacific Coastal Salmon Recovery Fund. Those are actual lines in recent federal budgets totaling $150,000, $668,000, $38 million, and $65 million respectively. All are “chump change” compared to $363 billion (with a “b”) to be spent this year on interest on the debt. That’s $53 billion higher than last year, a ...

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Congressional Effort To Rein In Deficit Ends in Failure – Again

By Dustin Siggins Congress’s most recent failure to act on budget process reforms will likely result in a huge increase in the national debt an analysis of available data suggests. Congress recently failed again to reform budget processes to slow the nation’s growing national debt. A bipartisan committee created in the spring 2018 budget deal was supposed to end the ...

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Consumers and the Federal Government continue spending on credit

Credit cards

Consumers and the Federal Government continue to increase debt due to spending according to a new report out Wednesday. Revolving debt, almost all of which is consumer credit card debt, increased by more than $16 billion in May, according to Lending Tree’s Consumer Debt Outlook for July 2018. That’s the largest-ever increase in revolving credit for that calendar month and the largest percentage increase ...

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Time to Face Up: The Growing Urgency for Tackling our Nation’s Debt

In fiscal year 2020, the budget will record the first $1 trillion deficit since the financial crisis of the last decade. Furthermore, the federal government’s debt to the public is now projected to exceed the nation’s collective income in 2028, reaching a debt-to-GDP ratio over 100 percent. In a new report, the Committee for Economic Development of The Conference Board (CED) recommends bipartisan ...

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Joblessness and Poverty In America. Obama Built That!

Most pundits and Republican politicians blame Obama for a lack of leadership in creating the increased poverty, joblessness, misery and debt America is experiencing, but they miss the point.  Obama instead deserves and seeks credit for being a successful leader in creating the misery our nation is experiencing.   His every action, speech and decision has been designed to generate the outcome ...

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Greece collapse begins

greeks line up for ATMs

The PIGS (Portugal, Ireland, Greece and Spain) have been under scrutiny for months due to their unsupportable mountains of debt in comparison to their incomes – on Monday, Greece may be the first to go down. Despite Greek Priminister Tsipras’ plea for calm in this video: Greeks lined up to drain ATMs of every ounce of cash they contained.   Reports ...

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The revolution will not be televised – Intellectual Froglegs S2 – Ep 11

The democrats want a blank check again to spend, and are blaming the conservatives for not being willing to compromise – also accusing them of not being fiscally responsible. Of course, liberals also think that just because ObamaCare is the law, it’s not up for being debated or changed. Joe Dan Gorman suggests the radical concept of not giving in ...

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CPAC 2013 Stands With Rand

The 40th annual Conservative Political Action Conference (CPAC) held this week in National Harbor, just across the river from Washington, DC, did not appear to be a depressed gathering of Republicans and conservatives still reeling from last November’s presidential loss. There was friendly rivalry between supporters of Sen. Rand Paul (R–KY) and Sen. Marco Rubio (R–FL), but I saw no ...

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The fiscal cliff could be the country’s cure

According to Wikipedia’s definition of the fiscal cliff Americans could suffer a little more short term pain for a lot more long term gain. Americans are used to suffering these last four years so what’s another few more? The fiscal cliff by their definition is a number of different laws which if left unchanged could lead to tax increases, spending ...

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After Nearly 4yrs Obama: Here’s My Jobs Plan

Maybe this time it will work? Maybe this time the jobs will actually be ‘shovel ready’? After three years and ten months President Obama has finally found the jobs plan that will get this country back on the right track. Or so he says. LA Times: DELRAY BEACH, Fla. — President Obama unveiled a glossy new 20-page magazine on his ...

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