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The annualized interest payment on the $30-plus trillion US national debt increased by over $16 billion in just six months. With the COVID crisis seemingly in the rear-view mirror, the economy allegedly strong, and the Fed raising interest rates to supposedly fight inflation, you’d think this might be a good time for the government to […]
The national debt stands at $30.3 trillion and the US government continues to run massive deficits. But does it really matter? Some people say that it doesn’t because “we just owe the debt to ourselves.”
If you thought the federal government running a budget surplus in January was a sign that Washington D.C. was getting its fiscal house in order, you’re going to be disappointed. Uncle Sam ran the biggest deficit since last July in February.
Not too long ago, the national debt pushed above $30 trillion. Today, Uncle Sam is $30.26 trillion in the red. And he’s on the fast track toward $31 trillion. Today, most people don’t bat an eye at the national debt. But that wasn’t always the case. As David Stockman pointed out there was a great […]
With little fanfare, the national debt crossed the $30 trillion threshold this week. That is an unfathomable number. And as host Mike Maharrey explains in this week’s Friday Gold Wrap podcast, it’s worse than that. Most people aren’t concerned. Maharrey argues that they should be, likening the federal government’s borrow and spend policy to a […]
The national debt quietly pushed past $30 trillion on Jan. 31. But that is only the tip of the debt iceberg. The American taxpayer is on the hook for a lot more than that. In his podcast, Peter Schiff said US government borrowing and spending has turned the dollar into monopoly money propped up by […]
On January 31, the national debt quietly eclipsed $30 trillion. The US government has run up debt at breakneck speed after raising the debt ceiling. The national debt broke through $29 trillion on Dec. 16. It took just 46 days for Uncle Sam to add another $1 trillion to his massive pile of debt. It […]
Despite a monthly record in receipts to the US Treasury, the federal government still managed to run a deficit in December. That’s because the federal government also broke a monthly spending record.
President Joe Biden’s “build back better” spending bill seems to be dead — at least for the time being. But there is still plenty of spending coming down the pike. This raises an important question: how is the Federal Reserve going to simultaneously taper its bond-buying program and monetize all of this debt? On Monday, […]
Even with the federal government ostensibly trying to limit spending with its head against the debt ceiling, it managed to run another massive deficit in November. The budget shortfall last month was $191.34 billion, according to the latest Treasury Department statement. That was 31.7% higher than the November 2021 deficit.
