The Congressional Budget Office slammed the president's unrealistic budget presented recently, concluding that the cumulative deficit over the decade between 2011-2021 would be $9.5 trillion, or $2.3 trillion higher than that estimated by...
Japan currently holds about $882 billion in U.S. Treasury bonds and they are likely going to have to liquidate much of that in order to fund the rebuilding of their nation. So needless to say they won’t be accumulating any more U.S. government debt.
The revolt against taxes and arrogant public officials is alive and well.
The fallout from Dick Durbin's Payday Lender Empowerment Act.
We have now gotten to the point — as I noted yesterday — where if national defense, interstate highways, national parks, homeland security, and all other discretionary programs somehow became absolutely free, we’d still have a budget deficit.
The answer is likely to be: no one.
The U.S. economic and systemic-solvency crises of the last four years only have been precursors to the coming Great Collapse: a hyperinflationary great depression. Such will encompass a complete collapse in the purchasing power...
America's school systems are funded by the 50 states.
In the last 16 months, 165 buyers have closed on foreclosed homes in Phoenix using federal Neighborhood Stabilization Program (NSP) Homeownership Assistance funds.
But here we are on the edge of one of the biggest financial disasters in human history and most Americans still don't understand what is happening.
Few realize the old royal salute is more appropriate – “QE is dead, long live QE!” Because an heir to the throne is here and will be with us for a long time. QE has now become a permanent part of the financial landscape of the United States.
Wall Street Journal: But consumer debt, such as auto and student loans, has started growing again in recent months, suggesting that people might be getting in the mood to borrow again. No it hasn't.
Ron Paul predicts that the government won’t shut down next week and will keep on printing money until there is a dollar crisis.
As Democrats and Republicans battle over how much spending should be cut to bridge the budget shortfall, one senator is focusing on the other side of the equation: revenues.
Ron Paul "I Think They Will NOT Shutdown The Government"
A Reuters/Ipsos poll shows that 51 per cent of Americans prefer cutting defense spending to reduce the deficit. Only 28 per cent supported cuts fo Medicare and Medicaid. Even less 18 per cent supported cuts to Social Security.
Sen. Rand Paul discusses our nation's debt crisis and the need for a balanced budget on the Senate floor.
What does this mean for residential real estate prices? I’ll attempt some quick, back of the envelop calculations here. Raise the cost of financing by 40%, and you can knock 40% off the value of your property. That is off of today’s prices...
Government payouts—including Social Security, Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby
In his latest monthly note, PIMCO's Bill Gross said he didn't know who would be buying Treasuries after QEII ended this summer. He said, specifically, that he wanted out of the market.
Many thought Bill Gross was only posturing when he said he is getting the hell out of dodge. Based on still to be publicly reported data by Pimco's flagship Total Return Fund, the world's largest bond fund, in the month of January, has taken its bond
But now after years of reckless spending, America’s debt level is nearing a breaking point and can no longer rely on foreign capital as a last resort. “When a country reaches a certain debt level, confidence in that country’s ability to repay that..
Washington Times reports that the preliminary number for the February deficit, which will formally be released by the FMS shortly, is $223 billion: this is the largest single month deficit in history! So much for prudent budgets and all that.
The entire premise of the alleged "recovery" is that "growth" will return as a consequence of debt increases. That velocity will increase. How are they doing?
Editor's note: I first posted this chart almost one year ago, but in light of our current economic circumstances I thought it was worth reviewing. It appears that current conditions are much worse than they were in March 2010.
The US given a bit of lead time has a key choice right now. Either deal with this set of colliding circumstances proactively, or the global capital markets will do so...
As the real economy is being gutted to the bone, the rising markets are nothing but a mirage, a talk-to-the-hand scheme devised by the spin masters who know what all of you like to hear and who feed you exactly that.
SocGen's Dylan Grice thinks the US debt crisis is imminent. On a gross basis the US government pays out 15% of its revenues on interest payments...
Agency said it will not stop mail service, but won't make payments to federal government
If Americans were ever presented with the real bill for the total U.S. national security budget, it would actually add up to more than $1.2 trillion a year. You won't find that figure in your daily newspaper or on your nightly newscast, but it's no