National Debt

The 21st Century Has Been A Big, Fat Flop

As the new century dawned, U.S. GDP was growing at a rate of about 3% a year... unemployment was near record lows... stocks were at record highs... the government’s finances were stabilizing... the threat of war was low... and new technology, abundant capital, and 20 centuries of compounded learning promised to make it the best ever. But then something went wrong. Or many things went wrong...

"The Brink Of War": The Horror Of The Deep State's Plan Exposed - Part 2

It seems the level and intensity of the propaganda campaigns has ratcheted up dramatically in the last few years. It’s almost as if the Deep State is frantically trying to maintain the status quo, even as the worldwide financial Ponzi scheme of debt approaches the point of collapse. The domestic conditions in Europe, North America, and Asia are deteriorating rapidly. The propaganda doled out trying to convince citizens their financial situation is not worsening has failed.

Peter Schiff: Damn The Deficits, Huge Tax Cuts Ahead!

For once, at least, this does not appear to be Trumpian braggadocio. It really may be the mother of all tax cuts. But if passed, what may this bunker buster do to the economy? While I have rarely met a tax cut I didn’t like, this one just may be more likely to send the economy into a downward spiral than it is to send up to orbit.

Trump Tax Cuts To Add As Much As $7 Trillion In Debt

"Based on what we know so far, the plan could cost $3 to $7 trillion over a decade– our base-case estimate is $5.5 trillion in revenue loss over a decade.... a $5.5 trillion tax plan would be enough to increase debt to 111 percent of Gross Domestic Product (compared to 89 percent of GDP in CBO's baseline) by 2027."

Stockman: The Trump Reflation Fantasy Ends On Day 100

"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."

Fed's Kaplan Warns Trump "US Too Levered To Use Debt For Growth"

Federal Reserve Bank of Dallas President Robert Kaplan had lots to say this morning that, for now, the market has chosen to ignore. He warned "we are highly leveraged" implicitly warning President Trump that the country’s ability to boost growth through debt is limited (thanks to President Obama's doubling of the national debt as The Fed held rates at zero during his term?)

What's Left To Drive The Recovery? Not Much

"These are some serious headwinds, and it’s not clear what offsets them. Could be that the only source of future growth is the government, which means the Fed will soon have to reverse course, cutting interest rates and buying up even more of what used to be known as the free market."