“The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”
After running the third-largest budget deficit in U.S. history in fiscal 2023, the federal government kicked off fiscal 2024 with another big budget shortfall. The federal government ran a $66.56 billion deficit in October, according to the Monthly Treasury Statement....
Mainstream media pundits and politicians generally act unconcerned about the skyrocketing national debt and ever-growing budget deficits, but somebody has taken notice. On Friday, Nov. 10, Moody’s Investor Service lowered its outlook on U.S. government credit from...
When I talk about the massive national debt, most people just shrug. Except for a few contrarians, the average person doesn’t seem to think the debt is that big of a problem. Well, I beg to differ. And so did most people in the founding generation. The great...
The federal government charted a surprising budget surplus in August. But don’t be fooled. The feds didn’t miraculously fix their deficit problem. The Biden administration continued to spend money at an unsustainable pace last month. The surplus was merely a function...
To hear President Joe Biden tell it, the U.S. economy is booming. Meanwhile, the federal government is running monthly budget deficits that you would normally see during a deep recession. With two months left to go, the deficit for fiscal 2023 now stands at $1.61...