Economy
Despite Tax Day in May, U.S. Government Runs Another Massive Deficit
Typically, the U.S. government runs a budget surplus in the month that tax returns come due. Not this year. Despite a surge in receipts, the federal government ran a $131.95 billion deficit in May, continuing the trend of overspending and ballooning budget shortfalls....
Biden Borrow and Spend Plan Builds on Trump Legacy and Makes Things Even Worse
President Joe Bidenย released his 2022 budgetย this week. The $6 trillion spending plan offers a glimpse into Bidenโs long-term fiscal strategy โ borrow and spend to infinity and beyond. This is eerily similar to the Donald Trump fiscal strategy. In fact, this has been...
Big Government and Big Inflation
Aprilโs 4.2 percent past year increase in the Consumer Price Index is not likely to dissuade the Federal Reserve from continuing its policy of near-zero interest rates. Fed Chairman Jerome Powell believes the rising prices are just a temporary phenomenon caused by the...
Another Huge Budget Shortfall for the Feds
The U.S. government ran another huge budget deficit in April. The shortfall came in at $225.58 billion, running the total budget deficit through the first seven months of fiscal 2021 to a record $1.9 trillion, according to the Treasury Departmentโs Monthly Treasury...