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 Biden released his 2022 budget this week. The $6 trillion spending plan offers a glimpse into Biden’s long-term fiscal strategy – 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
April’s 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...