With Little Fanfare the National Debt Blasts Past $32 Trillion
The great anti-federalist Brutus wrote, “I can scarcely contemplate a greater calamity that could befall this country, than to be loaded with a debt exceeding their ability ever to discharge.” And here we are. With little fanfare, the national debt blew past $32...
2023 Budget Deficit Now Well Over $1 Trillion
Congress “solved” the debt ceiling problem by effectively eliminating borrowing limits for the next two years. But it did nothing to address the underlying problem. And that underlying problem is painfully obvious when you look at the monthly budget deficits the...
Federal Tax Receipts Are Tanking But Federal Spending Isn’t
The U.S. government ran a surplus in April, as it generally does in tax return month. But federal tax revenues collapsed year-on-year and the fiscal 2023 deficit is still close to $1 trillion with five months to go despite the small April windfall. Meanwhile, the...