Peter’s Blog

On Wednesday, the House gave final approval to coronavirus stimulus bill 3.0. For those keeping score at home, that brings total stimulus spending approved during the pandemic to $5 trillion. So, what exactly is all of this money going to be spent on? And who is going to pay for it?

There’s an economic myth out there. As the story goes, governments can print their way to prosperity. Just run the money printing press, hand out cash for consumers to spend and the economy will hum. In this clip from a podcast episode, Peter Schiff calls it “The Kelton Myth” named for economist Stephanie Kelton. At […]

On March 1, the US national debt eclipsed $28 trillion with no end to the borrowing and spending in sight. It was just last fall that the debt surged above $27 trillion for the first time. In less than five months, Uncle Sam added another $1 trillion to its debt load. And there’s barely been […]

The US government is spending money at a torrid pace. Uncle Sam blew through $547 billion in January. That brings total spending through the first four months of fiscal 2021 to $1.92 trillion. And the spending spree is only going to increase. Congress continues to debate another $1.9 trillion stimulus package and there’s already talk […]

After running the biggest December budget deficit in history, the US government followed up with another massive budget shortfall in January. According to the Monthly Treasury Statement, the January deficit came in at $162.83 billion. That’s nearly five times bigger than the January 2020 shortfall.

Peter Schiff recently spoke at the January 2021 Virtual Money Show. He explained why the coming financial crisis will be much worse than 2008, and how the Federal Reserve and the US government are driving us toward this crisis with their inflationary monetary policy.

President-elect Joe Biden unveiled his massive stimulus plan last week touted as the “American Rescue Plan.” In his podcast, Peter Schiff said it was more like throwing a drowning man an anchor.

The US government ran the biggest December budget deficit in history last month. The December budget shortfall came in at $143.6 billion. That compares with a $13.3 billion deficit in December 2019, according to the Monthly Treasury Statement.

President Trump threw a wrench into coronavirus stimulus relief, calling the massive spending bill “a disgrace” and threatening to veto the legislation if Congress doesn’t go back and up the individual checks from $600 to $2,000. It remains unclear how the politics will play out. House Speaker Nancy Pelosi tweeted “Let’s do it!” putting pressure […]

The US government is stimulating everybody. Just not you. Congress finally pulled together a stimulus deal. Both houses of Congress passed the $900 billion measure. It ranks as the second-largest “stimulus” bill in history, only behind the CARES Act passed earlier this year.