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Keyword: nationaldebt

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  • ‘Bond King’ Jeffrey Gundlach says the national debt is ‘totally out of control’

    05/07/2019 9:47:59 AM PDT · by DCBryan1 · 53 replies
    CNBC ^ | 7 MAY 19 | Kate Rooney@Kr00ney
    U.S. debt has climbed to an alarming level, according to DoubleLine Capital CEO Jeffrey Gundlach. “People are starting to realize that the deficit and debt are totally out of control,” Gundlach said on CNBC’s “Halftime Report” Tuesday. Guldach said the “main reason” the yield curve between 3-year Treasury bonds and 5-year bonds is steepening is a ballooning deficit. Gundlach — sometimes known as the “bond king” — runs the $50 billion DoubleLine Total Return Bond Fund. Its five-year performance is one of the best in its category, but lagged most of its peers in 2019 with a gain of just...
  • Larry Kudlow: Trump won't pay down any of the national debt

    04/29/2019 10:51:27 AM PDT · by deplorableindc · 125 replies
    Washington Examiner ^ | April 29, 2019
    White House chief economic adviser Larry Kudlow told reporters Monday that President Trump is unlikely to pay off any of the national debt, currently at $22 trillion. "Whoa, whoa, it doubled under the prior eight years," Kudlow said on the White House driveway, downplaying Trump's responsibility for the current level of debt. "Yes, it's gone up a bit," Kudlow conceded, but he argued that "growth is the solution to any debt issues that might be on the table — and so far, so good. Let's just keep the policies in place."
  • Just Stop Spending: Hey Congress, Stop spending money you don’t have, dummy.

    03/20/2019 11:55:44 AM PDT · by SeekAndFind · 23 replies
    National Review ^ | 03/20/2019 | Kevin Williamson
    Stop spending money you don’t have, dummy. Can we conservatives agree — at least among ourselves — on that much? Maybe not. Confession: I am not much of an ideologue. And I don’t think “Stop spending money you don’t have, dummy!” is an ideological position, exactly. And there’s no need to be fanatical about it: Running a deficit during a serious economic downturn, a war, or a national emergency? I’m flexible. You show me Hitler invading Poland and my response is not going to be: Stop spending money you don’t have, dummy. Whip those Nazis. And, then: Stop spending money...
  • Our National Debt is Our National Disgrace

    02/24/2019 10:09:02 AM PST · by Sean_Anthony · 10 replies
    Canada Free Press ^ | 02/24/19 | Jeff Crouere
    The most effective way to deal with the national debt has always been the same, reducing the size of the gargantuan federal government In mid-February, our national debt reached $22 trillion, a new record for our country. Since President Trump took office in January of 2017, our debt has increased over $2 trillion. During the administration of President Obama, it increased from $10.6 trillion to $19.9 trillion. Thus, the national debt has more than doubled in 10 years and it is still increasing nearly $1 trillion per year. According to the Congressional Budget Office, the national debt for this fiscal...
  • What To Do About Our Record National Debt? Anyone? Anyone? Bueller?

    02/21/2019 7:17:07 AM PST · by SeekAndFind · 35 replies
    Hotair ^ | 02/21/2019 | Andrew Malcolm
    While the news media and thus the country obsess over really important stuff like 30-year-old yearbook photos and details of an alleged phony hate crime, the United States’ national debt did not climb, nor inch, nor slide to a new record high the other day.The nation’s accumulating national debt soared through $22 Trillion. In fact, the amount that Americans owe others now resides north of $22.3 trillion, larger than the entire national economy.It’s not only growing because the country continues to blithely spend beyond its means. It’s growing because, to stem the growth of inflation, the Fed has raised...
  • Congress shrugs off $22 trillion national debt: 'I don't see a lot of appetite for cutting spending'

    02/20/2019 4:28:54 PM PST · by jazusamo · 81 replies
    The Washington Times ^ | February 20, 2019 | David Sherfinski
    Yes, Congress is aware the national debt recently surpassed $22 trillion for the first time in U.S. history. No, members don’t think they’ll do anything to seriously address it anytime soon. “I don’t see anybody prioritizing it, and sadly folks often prioritize things when crisis hits. I don’t want a debt spiral crisis to hit,” said Rep. Rob Woodall, Georgia Republican. “I hear lots of conversations about how to spend a whole lot more.” With the spending process for 2019 now wrapped up, lawmakers are turning their attention to exactly how they plan to avoid $126 billion in cuts set...
  • Bill Weld calls Trump a 'reckless' spender who is 'not indispensable at all'

    02/17/2019 10:14:56 AM PST · by deplorableindc · 52 replies
    Washington Examiner ^ | Feb. 17, 2019
    Former Massachusetts Gov. Bill Weld said Sunday he would challenge President Trump on his "reckless" spending if he runs against him for the 2020 GOP nomination, while offering a broader critique of Trump's style and demeanor. Weld emphasized fiscal conservatism as a central campaign issue days after the national debt surpassed $22 trillion, saying during a television appearance, "I'm going to make clear that I think the president is reckless in spending." "They're spending a trillion dollars a year. They don't have that. It's going to crush Generation Xers and millennials in this country," Weld said on ABC's "This Week."
  • Trump says United States is having tremendous success with China on trade (huh?)

    01/12/2019 8:20:04 PM PST · by cba123 · 37 replies
    Crazy Banana ^ | 1/12/2019 | Antoinette Montgomery
    American officials said during their discussions they relayed Trump's commitment to addressing trade deficit concerns and resolving structural issues affecting trade between the two countries. (please see the full article, at the link) I really don't see what Trump is talking about, but I do not have access to our trade delegation either. Maybe he is seeing something different. What I am seeing, is we just set the worst trade deficit in all recorded history, with China. The worst ever. Worst. Between any two countries. Ever. It is not improving. It is getting worse. I am all for Trump, but...
  • Meanwhile, Donald Trump Reshapes the World

    01/14/2019 2:39:23 PM PST · by Kaslin · 7 replies
    Rush Limbaugh.com ^ | January 14, 2019 | Rush Limbaugh
    RUSH: Yeah, another thing that’s so frustrating to me about all this honestly, folks, is that Donald Trump has really made good on his promise to make America great again and then is in the process of reshaping the world. Do you realize…? Have you heard the ChiComs have agreed to start importing rice from the United States? Now, stop and think about this for a second. Donald Trump sold ice to Eskimos. He has just made a deal where the ChiComs are gonna import rice from American farmers. The ChiComs on all of these arguments over tariffs are gonna...
  • Thirty Democrat Lawmakers Vacation In PR While Federal Employees Remain Unpaid

    01/13/2019 2:02:19 PM PST · by CaliforniaCraftBeer · 36 replies
    The Gateway Pundit ^ | January 13, 2019 | Jim Hoft
    President Trump is working around the clock during the government shutdown trying to negotiate with Pelosi and Schumer to secure border wall funding. The Democrats however, are partying at a beach resort in Puerto Rico on day 22 of the government shutdown. The Democrats don’t care about the 800,000 federal workers who are currently not receiving a paycheck. Democrat Senator Bob Menendez was spotted hanging out with a bikini-clad “colleague” on the beach in Puerto Rico three weeks into the shutdown without a care in the world. The Hispanic Caucus of liberal Democrats is holding their retreat at a posh...
  • A Stunner: National Debt Interest Will Soon Exceed National Defense Spending

    12/27/2018 4:20:29 PM PST · by entropy12 · 44 replies
    Hot Air ^ | December 27, 2018 | ANDREW MALCOLM
    President Trump has harshly criticized the Federal Reserve in recent weeks for inching up the standard interest rate to guard against rising inflation and threatening the four percent economic growth rate the billionaire likes to brag about. Here’s another reason: The higher interest rates on your credit card balances and car loans also apply to the federal government’s borrowing. RECOMMENDED
  • My Outline for a Federal Wealth Tax

    08/01/2018 12:06:00 PM PDT · by Brian Griffin · 192 replies
    08/01/2018 | Brian Griffin
    To pay off the ~$21 trillion dollar federal debt, which amounts to about $60,000 per American, it is probably necessary to have annual federal wealth taxation. It is best to introduce the federal wealth tax when asset values are high, so a smaller percentage of rich people's assets have to get taxed to pay off the national debt. The tax might be levied upon the total of net personal property financial holdings and the equity in real property. The rates might be: 1% on the equity in real property habitually resided in by the filer(s), 2% on the equity in...
  • Feds Collect Record Individual Income Taxes Through June; Still Run $607B Deficit

    07/13/2018 10:42:22 AM PDT · by Red Badger · 16 replies
    www.cnsnews.com ^ | July 12, 2018 | 10:48 PM EDT | By Terence P. Jeffrey
    The federal government collected a record $1,305,490,000,000 in individual income taxes through the first nine months of fiscal 2018 (October 2017 through June 2018), according to the Monthly Treasury Statement released today. Despite the record individual income tax collections, the federal government still ran a deficit of $607,099,000,000 over those same nine months, according to the Treasury statement. The approximately $1,305,490,000,000 in individual income taxes that the Treasury collected in October through June of this fiscal year was $71,815,310,000 more (in constant June 2018 dollars) than the $1,233,674,690,000 (in constant June 2018 dollars) in individual income taxes that the Treasury...
  • Bernie: Hell Yes, We Need to Repeal and Replace the GOP Law With Higher Taxes

    04/11/2018 4:57:39 PM PDT · by Kaslin · 23 replies
    Townhall.com ^ | April 11, 2018 | Guy Benson
    Step one: Scream that the GOP tax reform bill would be a "massive attack" on the middle class.  Step two: Concede that actually yes, nearly all middle income earners would get a tax break under the bill.  Step three: Call for its repeal anyway, effectively demanding a tax increase -- a "massive attack," one might even say -- on middle class Americans and US businesses.  It sounds like Bernie Sanders has picked up the same tax hike hymnal from which Nancy Pelosi was singing last week: Sen. Bernie Sanders, I-Vt., called Monday for the Republican tax law to be repealed...
  • GOP tax law will add $1.9 trillion to debt: CBO

    04/09/2018 12:02:49 PM PDT · by GIdget2004 · 32 replies
    The Hill ^ | 04/09/2018 | Niv Elis
    The GOP's signature tax law is projected to increase the national debt by $1.9 trillion between 2018 and 2028, according to a new report by the Congressional Budget Office. According to the report, the tax law would cost the government $2.3 trillion in revenues, but economic growth would offset that figure by about $461 billion. At 11 years, the report covers a slightly longer time period than the usual 10-year projections, but even accounting for just the first decade, the figure remains around $1.9 trillion. Some Republicans argued vociferously during the tax debate that tax cuts in the bill would...
  • Federal Budget's Red Ink and Storm Clouds Aren't Black and White

    02/09/2018 3:51:06 PM PST · by jfd1776 · 1 replies
    Illinois Review ^ | February 9, 2018 A.D. | John F. Di Leo
    Reflections on a Federal Budget Impasse... During the February budget showdown in Washington, Senator Rand Paul rose to speak. He reminded America of our spending habit – a constant pattern of deficit spending, year-in and year-out, in both Republican and Democrat administrations. A spending habit that doesn’t just cause a year of trouble, but an eternity of trouble, since these deficits add up, year by year, into a mountainous national debt, one that doubled – Doubled! – in just the eight years of the Obama administration alone. And he is right. ... But this is not one of those areas...
  • Trillion-Dollar Deficit Deja Vu

    01/04/2018 10:55:19 AM PST · by Kaslin · 17 replies
    Townhall.com ^ | January 4, 2018 | Veronique de Rugy
    After failing to pass any significant legislation during most of President Donald Trump's first year in office, the Republican-controlled Congress was finally able to pass a major tax reform bill in the waning minutes of 2017. But beyond not getting in the way of the administration's efforts to crack down on abusive federal regulations, the party that never missed an opportunity to bemoan the previous Democratic administration's profligacy continued to show little interest in addressing the country's spending-driven fiscal problems. Will 2018 be any different? The country is now $20.6 trillion in debt, and a return to the annual trillion-dollar...
  • Why Congress Shouldn’t Wait For Medicare Reform

    12/21/2017 10:39:37 AM PST · by Kaslin · 23 replies
    The Federalist ^ | December 21, 2017 | Christopher Jacobs
    If Congress fails to comprehensively reform Medicare, seniors will miss out on significant savings, and taxpayers will miss out on the opportunity to slow the program’s cost growth.In an interview with “Good Morning America” on Wednesday, House Speaker Paul Ryan (R-WI) cast doubt on the prospect for comprehensive Medicare reform on the congressional agenda in 2018: “There are some provider issues that we may be addressing as you know. Some providers in the Medicare field in some cases are getting overpaid. We want to make sure that’s being dealt with. But as far as you’re talking about beneficiaries, we’re not...
  • 4 Of The Biggest Myths About The Tax Cuts And Jobs Act

    12/20/2017 9:39:57 AM PST · by Kaslin · 37 replies
    The Federalist ^ | December 20, 2017 | Justin Haskins
    The Tax Cuts and Jobs Act cuts rates for most tax brackets, substantially reduces business taxes, increases the standard deduction, and eliminates many tax loopholes and deductions. Congress passed historic, far-reaching tax reform legislation this week, and President Donald Trump is expected to sign it into law soon after some technical fixes. The Tax Cuts and Jobs Act cuts rates for most tax brackets, substantially reduces corporate and small business taxes, increases the standard deduction for individuals and couples, and eliminates many tax loopholes and deductions.Since Republicans first rolled out their plan to implement tax reform, liberal pundits and Democrats...
  • Yellen: $20 trillion national debt 'should keep people awake at night'

    11/29/2017 12:12:00 PM PST · by DCBryan1 · 92 replies
    CNBC ^ | 29 NOV 17 | Jeff Cox | @JeffCoxCNBCcom
    With Congress wrestling over a tax reform plan that critics say would explode the government budget deficit, Federal Reserve Chair Janet Yellen said she also is concerned over the surging level of public debt. A Senate committee passed the GOP-sponsored proposal, which would slash the corporate tax rate and lower individual income rates for many Americans.However, the price tag of the plan is in the area of $1.5 trillion at a time when the Congressional Budget Official already is projecting a deficit of more than $1 trillion in the years ahead and with the total debt level at $20.6 trillion...