Trump Administration Runs Yet Another Really Big Deficit in November
The Trump administration kicked off fiscal 2021 with the biggest October deficit in history. But with the first of November falling on a weekend, some November spending got shifted into October, inflating that month’s deficit. Now that we have the November...
Only Congress Can Spend Federal Monies
“No Money shall be drawn from the Treasury, but in consequence of Appropriations made by Law.” -U.S. Constitution, Article I, section 9 Congress and the White House have been at loggerheads for weeks on the next phase of federal aid to those suffering...
The Federal Reserve Will Likely Cause the Next Crisis
Federal Reserve Chair Jerome Powell and San Francisco Fed President Mary Daly both recently denied that the Federal Reserve’s policies create economic inequality. Unfortunately for Powell, Daly, and other Fed promoters, a cursory look at the Fed’s operations shows...