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Keyword: spending

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  • U.S. retail spending rises in August for 4th straight month

    09/16/2020 9:01:53 AM PDT · by ChicagoConservative27 · 5 replies
    Breitbart ^ | 09/16/2020 | UPI
    Sept. 16 (UPI) — Consumer spending in the United States rose during August, which was the fourth straight month spending increased, government figures showed Wednesday. The Commerce Department said in a report that retail and food services sales were up 0.6% last month, to $537.5 billion. The August total was 5.1% higher than it was last year, and the increase from July was 2.4% higher year-to-year, the department said. Month-to-month growth in August was slower than it was In July (0.9%), signaling a slight downturn in spending.
  • Joe Biden Would Crush the Economy with Trillions in New Taxes, More Trillions in New Spending

    09/15/2020 6:49:46 AM PDT · by SeekAndFind · 7 replies
    PJ Media ^ | 09/15/2020 | Stephen Green
    An unrepentant old-school liberal, Joe Biden would crush the economy with three trillion dollars worth of new taxes and five trillion dollars in new spending. A new study released on Monday by the Penn Wharton Budget Model (PWBM) argues that this is a good thing. According to The Hill: “At the end of the day, they actually decrease debt because they do have significant revenue raisers,” Richard Prisinzano, director of policy analysis for PWBM, said in an interview with The Hill. “And the economy is more productive. As we put in things like education and infrastructure, workers become more productive,...
  • The Federal Government’s Annual Spending Orgy Wastes Your Money

    09/08/2020 11:50:24 AM PDT · by SeekAndFind · 8 replies
    Epoch Times ^ | 09/08/2020 | Diane Dimond
    It happens every September. Inside federal office buildings, budget minions go on scandalous spending sprees using tens of billions of your tax dollars.Their departments have gotten along just fine throughout the fiscal year, but as the clock ticks down to Sept. 30, they know that any money left over in their budget will be forfeited next fiscal year, so they scramble to spend every dollar.What the heck are they buying at the last minute? The 2019 fiscal year facts, as compiled by nonpartisan watchdog group called OpenTheBooks, are mind-blowing. The group’s annual “Use-It-Or-Lose-It Spending Spree” report is a must-read for...
  • Debt Matters

    09/07/2020 3:59:56 AM PDT · by karpov · 8 replies
    The Grumpy Economist ^ | September 4, 2020 | John Cochrane
    Last week, the U.S. passed a milestone — US federal debt in private hands exceeded 100% of GDP. But does all this debt matter, or is worrying about debt passé? This debate has been going on among economists for a while. One does not need to go to the incoherence of "modern monetary theory" to find support for the view that debt has few consequences. Olivier Blanchard, of MIT and the IMF, in his Presidential Address to the American Economic Association, (excellent summary here) declared that “there may be no fiscal costs” of additional debt. The core of his argument...
  • Nice White Parents’ Responsible for Failing Public Schools, New York Times Says

    08/29/2020 4:18:40 AM PDT · by Tolerance Sucks Rocks · 90 replies
    The Daily Signal ^ | August 25, 2020 | Mary Clare Amselem
    Why does the public education system continue to fail America’s children? Policy experts have pondered this question for decades. Most say the answer is complicated, requiring a nuanced, collaborative approach. But not The New York Times. It found the problem, and it’s simple: white parents. The solution? “Try, whenever possible, to suppress the power of white parents.” That quote comes from the Times’ podcast “Nice White Parents,” which chronicles the history of a single public school in New York. Specifically, the host, Chana Joffe-Walt, decides to look into the racial history of this school. Her first finding: Many parents who...
  • Want To Boost Economic Growth? Tell Government To Spend Less

    08/27/2020 7:40:49 AM PDT · by Kaslin · 5 replies ^ | August 27, 2020 | Veronique De Rugy
    Intellectuals are supposed to speak truth to power. Unfortunately, some seem to be more interested in saying what everyone expects them to say, which only reinforces the status quo. Thankfully, a few scholars are resisting this trend, fighting for what is true rather than what is popular. Case in point: a recent Hoover Institution paper on "A Pro-Growth Fiscal Consolidation Plan for the United States" by economists John Cogan, Daniel Heil and John Taylor, which makes the case for a reduction in spending now in order to positively impact the economy. It's refreshing to see their research, considering that we...
  • Biden’s $10 Trillion In Proposed Spending Puts Bernie Sanders In Charge Of The Democrat Ticket

    07/22/2020 6:12:52 AM PDT · by ChicagoConservative27 · 9 replies
    thefederalist ^ | 07/22/2020 | Tristan Justice
    Joe Biden began unraveling a new agenda that makes the Democrat presidential nominee appear more similar to the socialist senators he faced in crowded primaries than the center-left “moderate” he portrays, which was always a myth to begin with. On Tuesday, Biden unveiled a new $775 billion proposal for government-run childcare with additional taxpayer programs for the elderly. The latest program comes just days after Biden announced a $2 trillion package to ensure “environmental justice” hashed out with Vermont Sen. Bernie Sanders’ team to pile onto the $7 trillion in spending already proposed, according to a Wall Street Journal analysis....
  • Trump Has To Spend $1.8 Trillion In The Next Three Months

    07/21/2020 7:55:51 AM PDT · by SeekAndFind · 4 replies
    Nation and State ^ | 07/21/2020 | Michael Every of Rabobank
    Authored by Michael Every of Rabobank Light at the end of the tunnel Yesterday had its fair share of positive developments. Foremost was news that the Oxford Covid-19 vaccine appears to show good potential in human trials. Yes, it might need two doses to work, which markets didn’t like so much, but frankly it was always going to be a slow, laborious, and hugely expensive challenge to develop, and then physically produce, and then practically roll out an effective vaccine to most of mankind. “Here’s a genie in a magic lamp – but you have to rub it twice...
  • Joe Biden Proposes Spending 3X What Hillary Clinton Proposed in 2016 (4 trillion in tax increases)

    07/14/2020 1:55:33 AM PDT · by knighthawk · 22 replies
    Breitbart ^ | July 13 2020 | JOEL B. POLLAK
    Former Vice President Joe Biden is proposing that the federal government spend $7 trillion in new outlays — three times what former Secretary of State Hillary Clinton proposed in new spending in her unsuccessful bid for president in 2016. The Wall Street Journal reported Monday that Biden has developed a massive spending plan that includes policies aimed at dealing with racial inequality and “systemic racism”: Mr. Biden’s plan to address what he frequently calls “systemic racism” is grafted onto nearly all aspects of the $7 trillion-plus in new federal spending that the former vice president has proposed for the next...
  • The World Is Drowning In Debt; New debt is not going to boost the recovery, it will likely prolong the recession.

    07/13/2020 9:29:33 AM PDT · by SeekAndFind · 25 replies
    Daniel Lacalle ^ | 07/13/2020 | Daniel Lacalle
    According to the IMF, global fiscal support in response to the crisis will be more than 9 trillion US dollars, approximately 12% of world GDP. This premature, clearly rushed, probably excessive, and often misguided chain of so-called stimulus plans will distort public finances in a way in which we have not seen since World War II. The enormous increase in public spending and the fall in output will lead to a global government debt figure close to 105% of GDP. If we add government and private debt, we are talking about 200 trillion US dollars of debt, a global increase...
  • California legislature facing $54.3 billion deficit chooses to increase spending

    06/20/2020 8:11:18 AM PDT · by SeekAndFind · 15 replies
    American Thinker ^ | 06/20/2020 | Chriss Street
    he California Legislature, facing a $54.3 billion budget deficit in the next fiscal year beginning July 1, has chosen to increase spending in expectation of a federal bailout. The nonpartisan Legislative Analyst Office (LAO) on May 7 shocked the California’s Democrat leadership, that holds veto-proof control of state finances, that despite federal disaster funding of $26.625 billion from the Cares Act and a $10 billion in loan to pay for unemployment claims, the state faced an $85 billion deficit over the next 14 months. As a result of the COVID-19 coronavirus lockdown, California has suffered a huge economic decline with...
  • Don’t Bail Out Profligate States

    06/18/2020 7:32:19 PM PDT · by MtnClimber · 6 replies
    Real Clear Politics ^ | 18 Jun, 2020 | Steve Moore & Kevin Roberts
    Writing for, Amelia Thomson-DeVeaux has a dire warning for Congress if it fails to bail out the states. “Without a lifeline from the federal government,” she writes, “states would have no choice but to start slashing budgets and raising taxes.” Meanwhile, governors like Gavin Newsom of California are threatening to shut down first responders, hospitals, and police services if they don’t get a big check from Washington. This is called hostage-taking, and Republicans in Congress would be foolish to pay the ransom. Behind this reasonable-sounding statement is a slew of flawed presumptions. One is that the federal government has...
  • Modern Monetary Theory: The little-known consequence of the massive coronavirus bills

    05/16/2020 2:41:10 AM PDT · by a little elbow grease · 41 replies ^ | 5/15/20 | JD Rucker
    The worst part about spending $6 trillion or more on coronavirus recovery isn't what's in it. The worst part is what happens if it doesn't destroy us. (snip) --- The issue of our constitutional rights being suppressed is a huge one, but it’s not the biggest. I know what you’re thinking… “How can you say it’s not the biggest?!?!?!” Don’t get me wrong. It’s definitely huge. But it’s not nearly as destructive to the United States of America as the little-known consequence of all of these bailout bills, including the proposed $3 trillion bill Speaker of the House Nancy Pelosi...
  • National debt could hit $40 TRILLION by end of pandemic, Congressman warns

    05/08/2020 5:44:03 AM PDT · by RandFan · 28 replies
    Just The News ^ | 8th May 2020 | By Nicholas Ballasy
    Rep. Thomas Massie, R-Ky., is warning that federal coronavirus stimulus spending could drive the national debt to $40 trillion by the end of the pandemic. “The governors are talking about opening the economy back up, but they're talking about doing it under limited circumstances, and they're all warning they will shut it right back down if they see an increase in the numbers of COVID infections. And there's no reason to believe the numbers won't increase when they open it back up,” Massie said during an interview with Just the News. “We've spent $7 trillion — spent or loaned. I...
  • House Democrats propose limiting White House spending power

    04/29/2020 1:12:36 PM PDT · by Oldeconomybuyer · 43 replies
    UPI ^ | April 29, 2020 | By Ed Adamczyk
    House Democrats eager to limit White House spending authority introduced a bill Wednesday intended to increase transparency and heavily penalize violations. House budget committee Chair Rep. John Yarmouth, appropriations committee Chair Rep. Nita Lowey and oversight committee Chair Rep. Carolyn Maloney sponsored the 59-page Congressional Power of the Purse Act. Similar Senate legislation is expected from Vermont Sen. Patrick Leahy. The House bill, in preparation for months, addresses what Democrats in Congress see as a series of abuses by the executive branch of President Donald Trump in withholding or redirecting funding to benefit his personal and political agenda. Trump's disputed...
  • Top 59 Lib Donors’ Spending BEATS Top 44 Conservative Donors’ Spending by $104,059,813

    04/29/2020 12:27:54 PM PDT · by JV3MRC · 18 replies
    NewsBusters ^ | 4/29/2020 | Joseph Vazquez
    Multiple liberal outlets fumed at how conservative donors have funded groups who have supported lockdown protests across the country. But they avoided reporting how the left is outspending the right in this election cycle to outside groups by over $100 million. Records reveal that all top liberal donors listed by Open Secrets (59) spent a whopping $191,827,021 combined so far on liberal groups. To contrast, all the top conservative donors listed by Open Secrets (44) only spent $87,767,208 combined on conservative groups. That’s a $104,059,813 disparity. It’s not even close.
  • U.S. CONGRESS HOUSE OF MASKS ... Eerie Session Underway

    04/23/2020 10:39:35 AM PDT · by RummyChick · 52 replies
    tmz ^ | 4/23/2020 | tmz
    ancy Pelosi looked more like she was on the set of "Contagion" the sequel than the U.S. Capitol building ... as she and her entourage all strolled in wearing masks. The House Speaker arrived Thursday to the nation's capital as the House of Representatives begin debating several coronavirus-related issues and, hopefully, vote and approve the new stimulus package to help the reeling economy and specifically small businesses. The Senate already approved the nearly $500 billion relief bill.
  • Illinois Seeks a Bailout From Congress for Pensions and Cities

    04/17/2020 7:01:07 PM PDT · by Theoria · 152 replies
    The New York Times ^ | 17 April 2020 | Mary Williams Walsh
    The president of the State Senate asked for $40 billion to help the pension system, fund unemployment insurance and aid hospitals and cities. Illinois needs more than $40 billion in relief from the federal government because of the coronavirus pandemic — including $10 billion to help bail out its beleaguered pension system, according to a letter the Illinois Senate president sent to members of Congress. The letter, sent this week by State Senator Don Harmon, also seeks a $15 billion grant to “stabilize the state’s budget,” $9.6 billion in direct aid to Illinois’s cities, $6 billion for the state’s unemployment...
  • Coronavirus Is Not Even Close to America's Biggest Problem

    03/27/2020 9:00:54 AM PDT · by Alex Baker · 21 replies
    American Thinker ^ | 2020 March 27 | Bryce Buchanan
    Governments can create money, but creating money does not create wealth. Wealth comes from productivity. Putting ink on small pieces of paper does not make wealth. You can visualize this fact quite easily. Imagine that our government officials keep businesses closed "to protect us from the virus," but they send everyone large checks every month. Our benevolent leaders made sure we had lots of money, so we are all taken care of, right? Without productive people, the true engine of wealth, Atlas would shrug, and the world would fall into its natural state, which is poverty. Anything that destroys productivity...
  • Rep. Louie Gohmert delays House coronavirus relief bill from moving to Senate

    03/16/2020 12:03:36 PM PDT · by Oldeconomybuyer · 63 replies
    NBC "News" ^ | March 16, 2020 | By Rebecca Shabad and Alex Moe
    WASHINGTON - Rep. Louie Gohmert, R-Texas, is holding up the House-passed coronavirus relief bill and preventing it from being delivered to the Senate for a vote. The House was expected to make technical corrections Monday to the bipartisan measure, passed by the House early Saturday, but Gohmert is insisting on reading them, a Democratic leadership aide confirmed to NBC News on Monday. The technical corrections package has not yet been finalized and the House wants to pass it by unanimous consent because the House is on recess this week. If one member stands in opposition, the House can’t send the...