Independent thinking for complex markets and current events
via Mike Shedlock What’s the key item that’s wrong in the following table of GDP, inflation, unemployment, and interest rate projections? Where’s a Recession? Has the Fed, the nonpartisan Congressional Budget Office (CBO), or the White House Office of Management & Budget (OMB) ever forecast a recession? The answers are no, no, and no. Yet, …
by confoundedinterest17 Every little thing Biden touches turns into disaster. Like the Federal Budget(consider it the fiscal version of the Afghanistan withdrawal). Following yesterday’s release of Biden’s $7.3 trillion budget, the Biden administration bragged about lowering the deficit by $3 trillion over the next decade – an average of 0.8% of GDP over that period. This would …
The President today submitted to Congress his Budget for Fiscal Year (FY) 2025, which requests a total of $37.8 billion in discretionary resources, an increase of $467 million over an FY 2024 Annualized Continuing Resolution, and a total of $10.5 billion in mandatory funding for the Justice Department. “The dedicated men and women of the …
In a move that could reshape the nation’s financial landscape, President Biden has revealed a budget proposal of unprecedented proportions, amounting to a staggering $7.3 trillion for the fiscal year 2025. This budget, while reflecting ambitious plans for tax increases and increased spending on various fronts, has ignited concerns about the escalating U.S. debt trajectory. …
WASHINGTON (AP) — President Joe Biden is issuing a budget plan Monday aimed at getting voters’ attention: tax breaks for families, lower health care costs, smaller deficits and higher taxes on the wealthy and corporations. Unlikely to pass the House and Senate to become law, the proposal for fiscal 2025 is an election-year blueprint about …
In the grand theater of Congress, Representative Thomas Massie has stepped into the spotlight, holding the script of fiscal responsibility while accusing his Republican colleagues of staging a budgetary masquerade. Basing his criticisms on the Congressional Budget Office (CBO) numbers, Massie doesn’t mince words. According to him, the FY-2024 spending extravaganza led by Johnson-Schumer is …
“Gun Controllers Use ATF As Bargaining Chip… And THEY GOT ABSOLUTELY ROCKED In Budget Compromise… in today’s episode, we dive into the absolute destruction that the ATF and FBI just received at the hands of the Democrats. They just got horse traded away for other democrat priorities. make no mistake, this is a MASSIVE win.” …
China has taken a bold stance against Taiwan, signaling heightened tensions by excluding ‘peaceful reunification’ from its language. The move coincides with a 7.2% boost in China’s defense budget, marking three decades of consecutive military spending growth. This underscores Beijing’s commitment to modernizing its military and adopting a more assertive approach on Taiwan. https://twitter.com/LavrionMining/status/1765070531509006737
China is increasing its military budget The defense budget will be increased by 7.2 percent and will amount to about 232 billion dollars, according to the draft budget published today at the opening session of the All-China People's Congress. China will continue to… pic.twitter.com/R8mKhp842t — Sprinter Press (@SprinterPress) March 5, 2024 China is set to …
“Denver Mayor Mike Johnston announced the closure of 4 ‘immigrant shelters’ over the next month—a move expected to save up to $60M—in an effort to lower the looming budget gap to $120M. Denver, CO welcomed 40,000 illegals in the last year, which is ~5% of their total population.” Denver Mayor Mike Johnston announced the closure …
In next decade, 84% of federal spending growth comes from health, Social Security, interest. “Spending on Social Security will grow from $1.5 trillion this year to $2.5 trillion by 2034, while spending on health care will grow from $1.6 trillion to $2.8 trillion,” a Committee for a Responsible Federal Budget analysis found. “Net interest costs …
In what universe does this bode well? I'm predicting that New York City is in for a very difficult time. There are simply not enough LEOs available to keep the streets safe. If the article from @PoliceOne is any indication, that safety is going to decline further. Recruitment is down, and with the cancelling of …
by confoundedinterest17 The great Will Rogers once said he never met a man he didn’t like. US President Joe Biden and Democrats have never met a spending opportunity they didn’t like (except for US border security, of course). Under “Deficit Joe” Biden, Federal budget deficits have soared! And deficits are projected to grow! Over the …
USDA extends LGBTQ agenda globally via farm-aid, tying international grants to transgender ideology, per redacted Oct. 18 memo. The U.S. Department of Agriculture intends to cultivate the transgender ideology on a global scale using international farm-aid programs. That could mean attaching strings to international grants that the USDA doles out to support the Biden administration’s …
But the first step is to say, ‘We want to support you and assist you in whatever way we can, but we’re not staying in Europe. We’re going to go home, and we’ve got other fish to fry here, and you’re going to have to pick somebody who’s a European four-star.’ h/t AndyS62
https://twitter.com/Fxhedgers/status/1739419853943923071 This infuriating year, marred by relentless inflation, epitomizes the struggle of everyday Americans. Families, like Kyle Connolly’s, grapple with layoffs, escalating living costs, and diminished luxuries. The glaring disconnect between positive economic indicators and the grim reality faced by communities like Florida’s panhandle underscores the systemic issue. While the Federal Reserve boasts about curbing …
by confoundedinterest17 It‘s Biden’s Fiscal Inferno! Insane open borders, insane green spending, wars in Ukraine, Gaza and growing restlessness around Taiwan. Inflation. And a demented 81-year old President in charge. The U.S. government ran a budget deficit of $381 billion so far into the 2024 fiscal year, which represents a 13% increase from this same time …
via justthenews “The growth in spending continues to outpace the growth in tax collections. This is why our national debit is heading toward $34 trillion. It cannot go on forever without serious economic consequences,” says the leader of the Tax Foundation. The U.S. government ran a budget deficit of $381 billion so far into the …
Gruesome Newsom Orders Commiefornia Spending Freeze Legal Insurrection readers may recall that I reported on California’s staggering $68 billion deficit, caused by an “unexpected” economic downturn. What is truly unexpected is that Gov. Gavin Newsom’s administration has just ordered a state spending freeze. In a memo sent across California agencies and departments this week, the director of …
by TonyLiberty Taxes kept climbing. People moved. Population shrinking, tax base shrinks. Seems straight forward. Time to cut back on taxes and things will rebound. I’m not a Trumpian but just cut taxes at the state level back to early 2000 levels and more people can afford to live in the state. Growing the tax …
The economic and demographic shifts in California present significant hurdles. The departure of high earners, as you pointed out, strains the tax base, with a small fraction of taxpayers now carrying a hefty portion of the state’s budget burden. The exit of over a million taxpayers and the purported replacement with what you describe as …
The senate will vote tomorrow on whether to vote on the FISA 702 by itself or continue to hide it in the general defense budget (NDAA). Only 41 senators voting yes will make a separate vote possible. Are there that many patriots still in the senate? Tomorrow the Senate has the chance to remove FISA …
🚨 NOW – NYC Mayor Eric Adams Says More Budget Cuts Could be Coming Due to the Migrant Crisis "That's what's so frightening about this. I saw it down in South America when I saw the level of people who are coming here, the continuous destabilization of Venezuela. What we're… pic.twitter.com/OBmDVtehrV — Chief Nerd (@TheChiefNerd) December …
by confoundedinterest17 We are on a Highway To Hell! Massive Federal Budget deficits and staggering payments to Treasury from The Fed (losses on balance sheet) and $212 TRILLION in unfunded promises to the non-elites. Under Modern Monetary Theory (or print money without consequences), we are seeing trillion dollars budget deficits with no end in sight. Nothing …
A crisis looms over China as alarming signs of economic distress emerge. Despite official claims, the job market’s true fragility is exposed by online listings and household surveys, painting a grimmer picture. Adding to the ominous scenario, China is contemplating unsecured loans for real estate developers, marking an unprecedented move with potentially catastrophic consequences. As …
The German steel sector, facing a substantial budget shortfall due to a court ruling, is sounding an alarm on the nation’s industrial transformation. With more than 40 billion euros ($44 billion) in planned investments now under scrutiny, the sector is grappling with a loss of confidence and growing uncertainty. How long before the steel industry …
In a bold move for Argentina, President Javier Milei has taken office with a commitment to slashing the budget and rejecting leftist ideologies. A breath of fresh air for the country, Milei is steering away from woke ideology and socialism, signaling a significant shift in Argentina’s political landscape. Stay tuned for the impact of these …
A recently divorced woman w/2 children shared her monthly budget sheet on FB & it went viral. I repost these because it’s perspective on the median & mean. Social media focuses on the fake and the .1%. pic.twitter.com/O6LLmG8kOb — Don Johnson (@DonMiami3) November 2, 2023 pic.twitter.com/77QasllTuD — Don Johnson (@DonMiami3) November 2, 2023 I got …
Authored by Michael Maharrey via SchiffGold.com, The Biden administration ran a $1.695 trillion budget deficit in fiscal 2023. It was the third-largest deficit in US history. The only time the US government ran bigger deficits was during the COVID years of 2020 and 2021. The government closed out the year with a $170.98 billion deficit in …
