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POSTED ON June 24, 2021  - POSTED IN Videos

President Biden has proposed a borrow and spend “to infinity and beyond” budget featuring $6 trillion in government spending. That’s the largest amount of spending ever proposed in a presidential budget. In the following podcast clip, Peter Schiff argues it’s not accurate to call it a “budget.” The federal government has given up on actual budgeting.

POSTED ON June 2, 2021  - POSTED IN Key Gold Headlines

President Joe Biden released his 2022 budget this week. The $6 trillion spending plan offers a glimpse into Biden’s long-term fiscal strategy – borrow and spend to infinity and beyond.

The Biden budget would take the US to its highest sustained spending levels since World War II.

And here you thought the pandemic emergency was winding down and spending would go back to normal. Well apparently, this is the new normal.

POSTED ON June 27, 2018  - POSTED IN Key Gold Headlines

At the current trajectory, the cost of paying the annual interest on the US debt will equal the annual cost of Social Security within 30 years, according to a recent report released by the Congressional Budget Office.

By 2048, as interest rates rise from their currently low levels and as debt accumulates, the federal government’s net interest costs are projected to more than double as a percentage of GDP and to reach record levels.  Those costs would equal spending for Social Security, currently the largest federal program, by 2048.”

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