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Trump Administration on Track for $1 Trillion Budget Deficit This Year
Trump Administration on Track for $1 Trillion Budget Deficit This Year The Trump administration is on track to post a 2019 fiscal year budget deficit of over $1 trillion. These are the kind of budget deficits we would expect to see during a deep recession, not an “economic boom.” The government got off to a […]
US Spending On Interest Hits All Time High As Budget Deficit In Trump’s First Year Soars To $779 Billion
US Spending On Interest Hits All Time High As Budget Deficit In Trump’s First Year Soars To $779 Billion One month ago we already knew that the U.S. budget deficit for the 2018 fiscal year – Trump’s first full year in office – would be jarring after the August deficit soared to $211 billion, nearly […]
Debts & Deficits: A Slow Motion Train Wreck
Debts & Deficits: A Slow Motion Train Wreck Last Friday, I discussed that without much fanfare or public discussion, Congress decided to push the U.S. into deeper fiscal irresponsibility with the passage of another Continuing Resolution (CR). To wit: “The House on Wednesday passed an $854 billion spending bill to avert an October shutdown, funding large swaths […]
Albert Edwards: “We Just Had A Small Taste Of The Coming Financial Collapse”
Albert Edwards: “We Just Had A Small Taste Of The Coming Financial Collapse” What is the outcome when three market skeptics sit down for dinner to discuss the future of the global economy? Whatever it is, it’s hardly optimistic. In his latest note released moments after the big CPI upside surprise and titled, what else, […]
Budget Woes Sign of a Dysfunctional Empire
Budget Woes Sign of a Dysfunctional Empire The bloated military budget is justified on the assumption that the United States can and should police the entire world, but this approach is fundamentally unsustainable, warns Jonathan Marshall. President Donald Trump’s latest $4.4 trillion budget proposal calls for boosting military spending by nearly $200 billion over the […]
U.S. Mandates Biggest Non-Emergency Strategic Oil Selloff
U.S. Mandates Biggest Non-Emergency Strategic Oil Selloff The budget deal that the U.S. Congress passed and President Donald Trump signed into law last Friday calls for selling 100 million barrels of the Strategic Petroleum Reserve (SPR) by 2027 to help fund the government. The sale of 100 million barrels of crude oil in the next […]
David Stockman On CNBC: ‘We’re On The Fiscal Titanic”
David Stockman On CNBC: ‘We’re On The Fiscal Titanic” A government shutdown would force Congress to address fiscal issues before they reach unmanageable levels, a former Reagan administration official contended Wednesday. “We’re on the fiscal Titanic and we’re going to hit something hard and immovable one of these days,” said David Stockman, director of the […]
Congressional Leaders Reach Deal on Spending – NYTimes.com
Congressional Leaders Reach Deal on Spending – NYTimes.com. Congressional leaders reached a deal Tuesday on a more than $1 trillion spending package that would fund most of the federal government through the current fiscal year. But because negotiations on the package dragged over policy details, House lawmakers also prepared to move on a short-term spending […]
COMBAT VS. CLIMATE: The Military and Climate Security Budgets Compared – IPS
COMBAT VS. CLIMATE: The Military and Climate Security Budgets Compared – IPS. As the U.S. debates the President’s plan for new military engagement, hundreds of thousands converged on New York to urge the world’s nations to take stronger action against the threat of climate change. A new report connects these two issues, and finds that the […]
