Lying to ourselves: the debt limit

From CNNMoney: Mnuchin cites September as possible debt ceiling crunch by Jeanne Sahadi | June 12, 2017: 7:53 PM ET For the first time, Treasury Secretary Steven Mnuchin on Monday offered a specific month for when the government might come dangerously close to breaching its legal debt limit. “I am comfortable saying we can fund …

Continue reading ‘Lying to ourselves: the debt limit’ »

Fed sees little need for future “stimulus” spending For once, I agree with Janet Yellen!

From The Wall Street Journal: Fed Officials See Less Need for Tax and Spending to Boost Short-Term Growth Shift in thinking comes as economy improves, jobless rate declines By Shayndi Raice | January 16, 2017 8:00 a.m. ET Federal Reserve officials increasingly say they don’t see a need for stimulative government tax and spending programs …

Continue reading ‘Fed sees little need for future “stimulus” spending For once, I agree with Janet Yellen!’ »

Yes, deficits matter. They mattered under Bush, they matter under Obama, and they will matter under Trump

From CNNMoney: IMF: Trump stimulus set to boost U.S. growth by Jethro Mullen | January 16, 2017: 9:08 AM ET U.S. economic growth should get a lift from stimulus measures under Donald Trump’s presidency, but it won’t hit the speed he promised anytime soon. That’s according to the International Monetary Fund, which has pushed up …

Continue reading ‘Yes, deficits matter. They mattered under Bush, they matter under Obama, and they will matter under Trump’ »

Nancy Pelosi and the Big Lie

Pelosi blames Bush for $9 trillion in debt added under Obama By Al Weaver • 1/13/17 12:07 PM House Minority Leader Nancy Pelosi blamed former President George W. Bush and the Republicans on Friday for the more than $9 trillion that has been added to the national debt under President Obama’s watch. Pelosi argued that …

Continue reading ‘Nancy Pelosi and the Big Lie’ »

#NationalDebt : It will be over $20 trillion when Barack Obama leaves office

In the left hand sidebar, The First Street Journal maintains a link to Treasury Department’s listing of the National Debt, to the penny. As of yesterday, the National Debt stood at $19,929,184,161,352.13. On November 29, 2015, a year previously, the National Debt stood at $18,782,451,267,806.04. That means that we’ve added $1.147 trillion to the debt …

Continue reading ‘#NationalDebt : It will be over $20 trillion when Barack Obama leaves office’ »

Both Donald Trump and Hillary Clinton want to pile on more and more debt

For those of us who have been thoroughly critical of President Obama’s profligate spending and piling on of debt, intellectual consistency requires that we be concerned about both Donald Trump’s and Hillary Clinton’s plans to pile on even more. Sadly, the Republican candidate is even worse than the Democrat on this: GOP think tank: Trump’s …

Continue reading ‘Both Donald Trump and Hillary Clinton want to pile on more and more debt’ »