spending

‘Bidenomics’ Is Failing Everyday Americans: The big spending has fueled higher inflation, resulted in larger-than-projected deficits, and contributed to a record level of debt.

via reason: As election season approaches, Democrats are touting the economic results of Biden administration policies aimed at improving the lives of working Americans and creating a more equitable economy. But ordinary Americans aren’t feeling the so-called success of “Bidenomics.” Superficially, the economy looks solid. As measured by real gross domestic product (GDP), it increased …

READ MORE

Time to bilge the Establishment GOP RINO sellouts who always fold like cheap suits & sign off on the Biden’s out-of-control spending

Kevin McCarthy faces battle with hard-right Republicans as shutdown looms Kevin McCarthy will return from his August recess on Tuesday facing the latest in a long series of conundrums for the Republican House leader: should he force a government shutdown, leaving hundreds of thousands of government workers without a paycheck, or burn more bridges with …

READ MORE

Fed’s Beige Book August 2023: “Some Districts highlighted reports suggesting consumers may have exhausted their savings and are relying more on borrowing to support spending.” “Many contacts suggested “the second half of the year will be different” when describing wage growth. Ruh-roh…

by Dismal-Jellyfish https://www.federalreserve.gov/monetarypolicy/files/BeigeBook_20230906.pdf This report was prepared at the Federal Reserve Bank of Kansas City based on information collected on or before August 28, 2023. Highlights: “Some Districts highlighted reports suggesting consumers may have exhausted their savings and are relying more on borrowing to support spending.” “Bankers from different Districts had mixed experiences with growth …

READ MORE

“We currently are earning less and spending more (adjusted for inflation) than at the worst point of the Great Depression”

People make less money, and prices are rising everywhere. Housing prices are going crazy. 😢 Are we in a quiet recession already? So many people earn less and everything costs more. Inflation has eroded earnings dramatically in real terms. Meanwhile, food, housing an all of the basics in life are sky high. pic.twitter.com/sfDnI6nJOy — Wall …

READ MORE

They are saving their stimmy for WAR spending?

Communist Party Priorities Complicate Plans to Revive China’s Economy Another party journal, Study Times, chimed in with an article that specifically argued against handing out cash to consumers. “While such measures could work in stimulating consumption to some extent, the cost of doing so is too great and it is absolutely unfeasible in China’s case,” …

READ MORE

Dick’s Sporting Goods, Macy’s Flash Warning Signs on U.S. Consumer Spending.

via WSJ: The sporting-goods chain slashed its profit targets for the year after missing Wall Street forecasts for the second quarter. Sales slowed after a pandemic-fueled surge for outdoor gear, leaving it with excess inventory. Executives said thefts of merchandise were also higher than they expected. Macy’s reported declining sales in the June quarter and …

READ MORE

Hawaiian Electric focused obsessively on renewable energy. only spending $245,000 on wildfire safety over 3 years, $81,666 a yr

Hawaiian Electric focused obsessively on renewable energy while only spending $245,000 on wildfire safety Hawaiian Electric knew about the threat of wildfires but waited for years to act They focused energy on renewables – only investing $245,000 on wildfire safety The company said it would investigate any role its infrastructure may have played in the …

READ MORE

July’s US Industrial Production … Returns To 2007 Levels Despite Staggering Fed Monetary Stimulus And Federal Government Spending Spree

by confoundedinterest17 Well, its now August 2023 and US Industrial Production for July increased … to 2007 levels. This comes after the massive spending out of Washington DC and massive Federal Rerserve stimulus. Is that all there is?? US Industrial Production is DOWN -0.23% YoY while up slightly in MoM terms. As I said a …

READ MORE

How To Stop Inflation Without A Recession? Slow Federal Spending And Shrink The Fed Balance Sheet (Return To Demand Economy From Obama/Biden’s Command Economy)

by confoundedinterest17 Inflation is a killer to the middle class and low-wage worker. Yet there are always apologists for terrible Federal spending and Federal Reserve monetary policies. Like Alex Bereson with his “How we stopped inflation without a recession (hint: by not stopping inflation).” Before I look at Berenson’s plea for more inflation, let’s see where …

READ MORE

‘Keep this in mind when you hear, “The consumer is strong.” Just because they’re spending, doesn’t make them strong.’

Keep this in mind when you hear, "The consumer is strong." Just because they're spending, doesn't make them strong. — Frank Iozzo (@RetireWithFrank) August 11, 2023 Not something you want to see if federal reserve interest rates have skyrocketed over 6,000% in a year pic.twitter.com/YWDP0lfZtn — Market Radar (@themarketradar) August 10, 2023

‘Our spending problem is getting worse.’

The US just published their budget numbers showing a $221 BILLION deficit in July ALONE. With $276 billion in receipts, the US spent a massive $497 billion last month. Total interest on US debt YTD is now at $726 BILLION. Needless to say, our spending problem is getting worse. pic.twitter.com/SkunIGS4t9 — The Kobeissi Letter (@KobeissiLetter) …

READ MORE

NYC is spending more money on illegal migrants than ‘sanitation, parks, and the fire department combined’

NYC is spending more money on illegal migrants than "sanitation, parks, and the fire department combined." $5 billion for the fiscal year. Adams is on TV this morning begging for more money and taking no responsibility for encouraging the crisis. pic.twitter.com/n8aLWAB1DU — Citizen Free Press (@CitizenFreePres) August 10, 2023

US spends 44% of GDP annually, comparable to World War 2, indicating fiscal deterioration and unsustainable government spending, surpassing 2008 levels.

Since the debt ceiling crisis, the US has already added nearly $1.5 trillion in debt. Meanwhile, tax receipts are down sharply this year. We are spending more and making less, a recipe for disaster. Follow us @KobeissiLetter for real time analysis as this develops. — The Kobeissi Letter (@KobeissiLetter) August 6, 2023 US Government To …

READ MORE

Gov Gone Wild! Wild Federal Spending, Massive Deficits And Soaring Interest Payments On Debt Requires More Fed Intervention (Bidenomics At Work!)

by confoundedinterest17 The US Fiscal position is very bad and the US is beginning to look like  a third world economy.  And with Biden and Democrat AGs filing indictments against Biden primary Presidential oppoonent, that country is Venezeula! Like skyrocketing interest on the Federal debt to pay for green energy hustlers and the Ukraine war. …

READ MORE

Say goodbye to DISCRESIONARY SPENDING aka the economy

Once people start to repay student debt again all those expensive trendy useless mall shops will start shuttering their satanicly advertised windows: US Economy Braces For Chaos As $1.5 Trillion Student-Loan Pause Ends After a three-year pause due to the pandemic, some 28 million US borrowers will once again face their student loan obligations – while grappling …

READ MORE

The cost of printing $4 trillion and handing it out: Everyone spends the money, consumer spending falls at a historic pace and then the world pays the price with 40-year high inflation.

On top of printing $4 trillion, the Fed lowered rates to 0% overnight in March 2020. Now, we have the fastest rate hike campaign in history. It’s unclear if zero interest rate policy was a net positive. Follow us @KobeissiLetter for real time analysis as this develops. — The Kobeissi Letter (@KobeissiLetter) July 31, 2023 …

READ MORE

“The ultra wealthy have have never been richer & are still spending like crazy. You can thank rising stock markets & YOLO spending culture for that”.

https://twitter.com/NorthmanTrader/status/1685201566196748289 https://twitter.com/NorthmanTrader/status/1685637032415043585 “Why the Federal Reserve has made everything more expensive to make things less expensive” actual title of article by NBC, they to on to call this “A little bit of science and a little bit of art” Clownworld is authoring its own satire at this point. NBC News engages Orwell mode and puts …

READ MORE

I.R.S. Under Fire: Congresswoman Demands Answers Over $10M Militarization Spending

In recent news, the increased weapon purchases by the Internal Revenue Service (IRS) have raised concerns on Capitol Hill. Rep. Stephanie Bice, R-Okla., expressed her unease in a letter to IRS Commissioner Daniel Werfel. Rep. Bice highlighted the the agency’s significant weaponry and tactical gear spending, an unusual move for a civilian agency dedicated to …

READ MORE

Bidenomics Or How Washington Ruined America’s Future: Interest on Federal Debt Rose 76% Under Biden (US Interest On Federal Debt > 6x EU Defense Spending As Unfunded US Liabilities Exceed $192 TRILLION!)

by confoundedinterest17 How badly has Bidenomics and generally Federal spending has crippled the US? An example. The interest on US Federal debt is approaching $1 TRILLION (and Biden/Democrats REFUSE to cut any spending, not that Republicans are much better). To show up how messed up this is, the EU’s defense budget (remember Ukraine?) is far …

READ MORE

Bank of America Corp. CEO Brian Moynihan says consumer spending patterns now are consistent with slowing growth in the economy.

via YAHOO: (Bloomberg) — US consumers, particularly those with lower incomes, are running into financial trouble as pandemic savings disappear, a headwind for lenders ranging from banks to asset-backed securities investors. The credit outlook is expected to deteriorate later this year when almost 27 million borrowers have to resume making payments on student loans. Delinquencies …

READ MORE

Higher Military Spending Will Save Democracy, Says NY Times

Authored by William Astore via AntiWar.com/Bracing Views, Days ago, I got a story in my New York Times email feed on “A Turning Point in Military Spending.” The article celebrated the greater willingness of NATO members as well as countries like Japan to spend more on military weaponry, which, according to the “liberal” NYT, will help to preserve democracy. …

READ MORE

US government interest payments on federal debt surpass defense spending, indicating a trend towards increased debt costs, potentially constraining fiscal agendas.

The US government interest payments on the Federal debt are now higher than the annual defense spending. This is likely the initial stages of a trend, and if no solutions are implemented, other components of the fiscal agenda may soon be constrained by the escalating cost of… pic.twitter.com/hBY2haxNyG — Otavio (Tavi) Costa (@TaviCosta) July 20, …

READ MORE

U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.

by Dismal-Jellyfish   https://www.newyorkfed.org/medialibrary/media/research/snapshot/Snapshot_July2023.pdf Overview of the July 2023 Snapshot GDP growth slowed: Q1 GDP was about .5% below what it would been if since Q42019, it grew at a rate close to long-term forecasts. Consumer real spending on services up 2.6%—still greater then 2%… Average hourly earnings up 4.4% in June. The employment-to-population ratio for …

READ MORE

National debt interest costs $122 billion, 18% of spending on June 2023; The federal deficit nearly tripled; US tax receipts drop significantly.

Ht @RealEJAntoni And the longer that rates stay at this level, more and more debt matures and gets refinanced at these higher rates. So the debt interest expense is going to keep going higher. 🔥 pic.twitter.com/WDEUlt9EFd — Wall Street Mav (@WallStreetMav) July 13, 2023 Every time US tax receipts have tumbled this much, the US …

READ MORE

Uh-oh! It looks like you're using an ad blocker.

Our website relies on ads and the generous support of readers like you to keep delivering free, high-quality content. Right now, we are facing serious funding challenges and we need your help more than ever. Disable your ad blocker and this message will vanish. You can also sign up for a membership to enjoy an ad-free experience while supporting our work: https://citizenwatchreport.com/plans/subscriptions/ Your support helps us stay independent, continue our work, and keep content free for everyone. We truly appreciate your understanding and thank you for standing with us.