Commentary President Joe Biden, writes Politico’s White House Bureau Chief Jonathan Lemire, “has prioritized deal-making throughout the debt ceiling talks. But with GOP obstinate, Biden is changing tactics.” What in the hell is he talking about, you may wonder. Only last month, Lemaire’s publication reported that Biden was “happy to meet” with Republican House Speaker…
Victorian Premier’s Plan to Repay ‘COVID Credit Card’
Paying back the COVID-19 credit card will be a priority for the Victorian government in the upcoming state budget. Premier Daniel Andrews maintains all of Labor’s election commitments will be delivered when the budget is handed down next week. But he said the government needs to address the state’s growing debt, which is predicted to…
Voters Overwhelmingly Concerned About National Debt, $1.7 Trillion Omnibus Is ‘Disaster for Our Country’
January 12, 2023
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$1.5 trillion omnibus billBusiness & Marketseconomic policieseconomyFederal debt ceilinggovernment debtinflationPolicies & ImpactsPoliticsU.S. national debtUS
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American voters are concerned about the country’s national debt, which has ballooned over the past decade, with many expressing worries about the $1.7 trillion spending bill that President Joe Biden signed into law last month, according to a recent survey by Rasmussen Reports. When asked how worried they were about the U.S. national debt, which…
The Big House Fight to Come Will Be the Debt Ceiling
January 10, 2023
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118th CongressBusiness & MarketsBusiness ColumnistsdebteconomyFederal debt ceilinggovernment debtPolicies & ImpactsPoliticsUSUS News
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Commentary Last week’s struggle in the House of Representatives to select Kevin McCarthy (R-Calif.) as speaker of the House is probably the most contentious House battle most of us will see in our lifetimes. But there is another one coming that is far more important: the battle over the debt ceiling, which will be looming…
The Global Rate Hikes Strike the Wall of Debt Maturity
Commentary More than 90 central banks worldwide are increasing interest rates. Bloomberg predicts that by mid-2023, the global policy rate, calculated as the average of major central banks’ reference rates weighted by GDP, will reach 5.4 percent. Next year, the federal funds rate is projected to reach 5.15 percent. Raising interest rates is a necessary…
Interest on Government Debt Set to Exceed Total Annual Defense Spending
November 2, 2022
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Business & Marketseconomic policieseconomyExecutive BranchFederal Reservegovernment debtinflationPolicies & ImpactsPoliticsUS
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The United States is on pace to spend more to maintain its debt than on its own military. In the third quarter, the federal government spent over $184 billion on interest payments on its debt. That means an annual cost of over $730 billion. Meanwhile, the Department of Defense 2022 budget was about $720 billion….
Ford Government Will Outspend Previous Liberal Government, Study Shows
The Ontario government led by Premier Doug Ford will end up outspending its Liberal predecessor Kathleen Wynne, and increase provincial debt despite its pre-election promises to cut spending, balance the budget, and shrink government debt, a new study shows. “When in opposition, the PCs (Progressive Conservatives) frequently criticized the Liberal government’s spending, but now the…
Without Fiscal Responsibility, US Headed for a Worse Economic Crisis: Economic Policy Expert
August 2, 2022
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Business & Marketseconomic policieseconomyFederal Reservegovernment debtinflationInflation Reduction Actmonetary policyUSUS News
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With raging inflation and the Democrat-led Congress gathering enough Senate support to pass billions more in spending, Joel Griffith, a research fellow in the Thomas A. Roe Institute for economic policy studies at The Heritage Foundation, told NTD TV that if the United States does not rein in its irresponsible fiscal actions, the nation is…
Debt-Financed Government Spending Imposes ‘Real Economic Costs’ on Canadians: Study
The notion that debt-financed government spending has a “low fiscal cost” is not only misleading, but also hides the fact that it has real economic costs, even when the interest rates are very low, a recent study says. “There is no free lunch when it comes to debt-financed government spending. Even with record low interest…
On Government Debt and Inflation, Freeland Continues to Mislead
June 30, 2022
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Canadafederal budgetFinance Minister Chrystia Freelandgovernment debtinflationLiberal government of CanadaOpinionViewpointsWorld
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Commentary Recently, federal Finance Minister Chrystia Freeland commented on Canada’s inflation challenges and the federal budget. Unfortunately, many of these statements were misleading, with Freeland doubling down on the Trudeau government’s approach to fiscal policy. Responding to questions about the government’s approach to addressing inflation, Freeland repeated the claim that the latest federal budget was…
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