Economy
Fiscal 2023 Federal Budget Deficit Third-Largest Ever
It takes a lot of money to run the biggest government in the history of the world. The federal government ran a $1.695 trillion budget deficit in fiscal 2023. It was the third-largest deficit in U.S. history. The only time the feds ran bigger deficits was during the...
Growing US Debt Menaces Liberty and Prosperity
Congress’ top priority this fall will be passing legislation funding the government and avoiding a “shutdown.” As of this writing, it appears unlikely that the Republican-controlled House will be able to make a deal with President Biden and the Senate Democrats on a...
Republicans Fiscally Irresponsible Act
The political and financial class breathed a sigh of relief when Congress passed the Fiscal Responsibility Act of 2023. The bill suspends the debt ceiling for two years, thus avoiding the establishment’s nightmare of a government default on its debt. Rather, it allows...
Unlimited Debt Leads to National Bankruptcy
During the current debt-ceiling crisis, one thing should be painfully clear to everyone: For those people who are advocating an increase in the debt ceiling, there is no maximum amount of debt that is too much for them. As far as they are concerned, the federal...