SchiffGold’s Blog

Twenty-eight days. That’s how long it took to add another $1 trillion to the national debt.

Welcome to your future. Your government is spending it right now. And your children’s and grandchildren’s future to boot. The US Treasury plans to borrow $2.99 trillion in the second quarter. The Treasury also plans to borrow another $677 billion in the July-September quarter, bringing the total fiscal 2020 debt to $4.48 trillion. It’s a level […]

The US government budget deficit in March came in at $119 billion, according to the latest US Treasury Department Report. That’s a massive budget shortfall. But it’s actually the calm before the storm.

The US government posted another massive deficit to start out calendar-year 2020. According to the latest data released by the US Treasury Department, Uncle Sam spent $32.6 billion more than it took in last month. That compares with an $8.7 billion surplus in January 2019. Analysts had projected an $11.5 billion shortfall in January.

The CBO projects the federal government will run massive budget deficits into the foreseeable future and says the ballooning national debt poses “significant risk” to the economy and financial system. According to the CBO, the federal budget shortfall will hit $1.02 trillion in FY 2020 and rise into the foreseeable future. Deficits will average $1.3 […]

The US federal government ran a budget deficit of over $1 trillion in the 2019 calendar year. It was the first budget deficit over $1 trillion in any calendar year since 2012 — in the midst of the Great Recession. The budget shortfall from January through December totaled $1.02 trillion, according to the latest report issued […]

Jerome Powell lectured Congress about the national debt last week, calling it unsustainable. The Federal Reserve chairman is concerned. He admitted that with interest rates already close to zero, the central bank has very little room to cut rates in the event of an economic downturn. Peter Schiff appeared on the Claman Countdown, along with […]

When is a $984 billion budget deficit good news? When you thought you might get a $1 trillion budget deficit. The Treasury Department released the fiscal year 2019 budget numbers on Friday. The budget shortfall came in at $984 billion right on the CBO estimate. A CNBC report said this would likely, “come as a […]

The US government is spending money and running up debt at an unfathomable rate. The US national debt increased by a staggaring $814 billion in just two months. When confronted with this reality, most people just shrug. Policymakers certainly don’t care. They continue to ramp up spending and call for even more. Paul Krugman recently […]

The US national debt increased by a staggering $814 billion between Aug. 1 and Oct. 6, according to Treasury Department data. That represents a 4% increase in the debt — in just a little over two months.