"In honor of the Donald’s “Mother of All Bomb” (MOAB) attack on the Hindu Kush mountains Thursday, let me introduce MOAD. I’m referring to the “Mother of All Debt” crises, of course... The opening round is coming when Washington goes into shutdown mode on April 28, which happens to be Day 100 of the Donald’s reign."
"No, we won’t be able to balance the budget this year, but we’re working on trying to get it to balance within the ten-year budget window, which is what Republicans in the House and the Senate have traditionally done the last couple of years."
Attempting to spend a nation to prosperity using borrowed money is not without consequences. In the short run, an illusion of wealth can be erected. In the long run, that illusion slips into decay and disrepair.
Today at 7am, Trump released his first federal budget blueprint revealing the President's plan to dramatically reduce the size of the government. As previewed last night, the document calls for deep cuts at departments and agencies that would eliminate entire programs and slash the size of the federal workforce. It also proposes a $54 billion increase in defense spending, which the White House says will be offset by the other cuts.
"While it is possible that ACA replacement legislation could reach the President’s desk in April, as Republican leaders have predicted, a delay until May or later continues to look more likely, particularly in light of today’s CBO estimate."
Our country is beset by a large number of economic myths that distort public thinking on important problems and lead us to accept unsound and dangerous government policies. Here are ten of the most dangerous of these myths and an analysis of what is wrong with them.
“The big picture for investors is this: Trump is high volatility, and investors generally abhor volatility and shun uncertainty... If things go wrong, we could find ourselves at the beginning of a lengthy decline in dollar hegemony, a rapid rise in interest rates and inflation, and global angst...”
"I’m not looking to pick a fight with the president of the United States, but if his goal is to put the country on a fiscally sound course, he’s going to have to address entitlement reform. Anybody who is going to balance the budget on discretionary spending [cuts] is on a fool’s errand."
Senate Democrats are set to unveil a $1 trillion infrastructure plan and offer President Donald Trump their support if he backs it. The plan includes $180 billion to rail and bus systems, $65 billion to ports, airports and waterways, $110 billion for water and sewer systems, $100 billion for energy infrastructure, and $20 billion for public and tribal lands.
As the world's elite gather in Davos to decide for the minions what the world should look like, The IMF has taken a far dimmer view of global (and by that we mean Trumpian) economic growth than markets appear to be. In addition to slashing Brazilian, Mexican, and Saudi Arabian economic growth forecasts, Lagarde's lackeys are taking a cautious stance toward the policies of U.S. President-electDonald Trump, who takes office this week, assuming only a modest boost to the U.S. economy from his promise of fiscal stimulus.