National Debt Blows Past $28 Trillion
On March 1, the U.S. national debt eclipsed $28 trillion with no end to the borrowing and spending in sight. It was just last fall that the debt surged above $27 trillion for the first time. In less than five months, Uncle Sam added another $1 trillion to its debt...
How the Federal Reserve Backstops Federal Government Borrowing and Spending
As I’m sure you know, Uncle Sam borrows billions of dollars every month. But I bet you don’t know who is lending the federal government all of this money. I’ll tell you upfront – the situation is less than ideal. Month after month, the federal...
Another Month Another Massive Federal Budget Deficit
After running the biggest December budget deficit in history, the U.S. government followed up with another massive budget shortfall in January. Borrowing and spending at record rates is a legacy President Donald Trump left to Joe Biden, and the new administration will...