WORLD WAKING UP TO GOVERNMENT DEBT TSUNAMI.
The U.S. government is a monstrosity. With its four million employees and annual budget approaching $7 trillion, there is no other way to describe it.
The monumental fiscal and monetary hole that Peronists Massa and Fernández have left for Javier Milei is difficult to replicate.
We just read that the federal government is running its largest deficit as a percentage of GDP outside of WWII period. Another great achievement!
Kiev has more than doubled its Treasury holdings since February 2022, according to calculations by RIA Novosti
"Interest on the federal debt is now so immense that it's consuming 40% of all personal income taxes… If federal finances continue on their current path, we are only a few years from the entirety of income taxes being needed to finance the debt
International Man: Everyone knows that the US government has been bankrupt for many years. But we thought it might be instructive to see its current cash-flow situation.
History is filled with examples of failed attempts to 'conquer the world.'
The Biden administration said Friday that it used wartime authority to bolster the manufacturing of so-called energy-efficient heating and cooling technology. It's an alternative to gas-powered residential furnaces.
The Pentagon has just failed its sixth audit in as many years.
Update (1801ET): Democrats stepped in to save the day on Tuesday, helping House Speaker Mike Johnson avert a government shutdown despite opposition from Republicans in the Freedom Caucus who opposed the bill due to a lack of offsetting spending cuts.
That was enough to scare the entire ratings industry into submission. No matter how high the debt burden became, how incompetent the Congress, how outrageous the budget, how ridiculous the legislation… the rating agencies refused to downgrade the U
Color me shocked. On Tuesday night, the House of Representatives passed Speaker Mike Johnson's continuing resolution. It passed 336-95, and is expected to pass the Senate.
Peter Schiff recently appeared on Real America with Dan Ball to talk about the latest employment data and the state of the real estate market. We know there is a lot of doom and gloom in the headlines, but Peter said the situation is actually doomier
Moody's on Friday lowered its outlook on the U.S. credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability, a move that drew immediate criticism from President Joe Biden's administration.
Debt literally takes down empires. The U.S. government was never meant to be a militarized empire, since freedom and empire are mutually exclusive. But alas, the decisions to become an empire were made before any of us were born. In typical fashion,
What fool would buy 30 Year US Treasuries when the US is adding $2 trillion per year to the national debt?
Moody's Investors Service lowered its ratings outlook on the United States' government to negative from stable, pointing to rising risks to the nation's fiscal strength.
70 RINOs (Republicans in Name Only) voted to keep funding the corrupt FBI to build a new $300 million headquarters building even though the FBI targets its political opposition that includes Republicans...
We're about six weeks into fiscal year 2024, but if this year looks anything like last year, we can assume the federal government will continue to pile up debt at astonishing rates.
Back in July, when we last looked at the unprecedented horror show that is the US budget deficit - and concluded correctly, long before the Q2 Quarterly Refunding Announcement...
I truly wish that headline was an exaggeration. Unfortunately, for decades Americans have been extremely irresponsible with their finances.