Keyword: budget
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@RepThomasMassie Side tracked? The spending bill is due September 30, and they’re already talking about more money for Ukraine. Schumer has more on his agenda and Johnson is doing his bidding. If we don’t address this now, there certainly won’t be any desire to address it after Nov elections.
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A viral clip of an interview with President Joe Biden’s economic adviser Jared Bernstein shows the official struggling to explain why the U.S. government chooses to borrow money when it can just print more. "The government definitely prints money, and it definitely lends that money … by selling bonds. Is that what they do? They sell bonds, yeah, they sell bonds. Right? Since they sell bonds, and people buy the bonds and lend them the money," Bernstein, chair of the Council of Economic Advisers, said when asked why the federal government borrows currency it can print. "I guess I’m just,...
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The Government and Accountability Office (GAO) issued a report on whether the Biden administration violated the Impoundment and Control Act of 1974 by blocking funds intended for construction of the southern border wall, because of a request by House Republicans. While the GAO ultimately cleared the Department of Homeland Security (DHS) of violating the law, the report did confirm that DHS used congressionally-appropriated border wall funds for environmental planning and other non-barrier construction.
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Mayor Eric Adams unveiled a $111.6 billion executive budget for fiscal year 2025 that restores $515 million in school funding and will put more cops on Big Apple streets — but falls short of plugging more than $58 million in cuts for libraries. The proposed spending plan, released by City Hall on Wednesday, came in at $2.2 billion above the preliminary budget announced in January and carves out billions for the city’s migrant crisis. The plan, which is $4 billion more than the current budget, benefited from higher-than-expected tax revenues and proactive cuts in city spending critics contend were premature...
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The current House Speaker is cut from the same cloth as Mike Pence: a tergiversating weakling who always fails to stand for America First when push comes to shove. Mike Johnson is at a crossroads: continue to appease the RINOs and Democrats in the House, thus maybe preserving his House seat through the November election, at which point it seems increasingly likely, regardless of the lower chamber’s composition, that he will be replaced with someone else. Or he can stand with the American people and Donald Trump by denying Ukraine, Israel, and Taiwan an endless stream of blank checks and...
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The New York HEAT Act might not make the final budget. The bill reduces the state’s reliance on natural gas and cuts ratepayer costs by eliminating certain rules. It was in both legislative chambers’ one-house budgets, but last-minute scrambling could remove it. New York League of Conservation Voters Policy Director Patrick McClellan said, aside from people’s preference for natural gas, other challenges have made the bill hard to pass. “I think that there has also been some irresponsible fear-mongering against this bill from some people who oppose it,” said McClellan, “basically telling people this means that their natural gas service...
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Congressional Spending Goes Full WeimarIt has become a speculative game in the blogosphere to predict what black swan calamities could lead to a breakdown in civil order and the imposition of some form of martial law. Wars and rumors of war abound. We have already seen a container ship mysteriously knocking down a bridge and closing a key port. Other such scenarios include massive cyber-attacks that shut down the grid and block communication and transportation networks nationwide. The speculation on the variations of such events is virtually endless.However, one crisis is no black swan and is entirely expected, already happening,...
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For Joe Biden, government spending has no bottom. There's always a student loan to 'forgive,' a green scheme to lose money on, or an illegal alien to offer a 'free' lifetime service package to. And bureaucrats to hire, lots and lots of bureaucrats... As a result the U.S. deficit has hit record levels. According to the Treasury Department:A deficit occurs when the federal government’s spending exceeds its revenues. The federal government has spent $1.06 trillion more than it has collected in fiscal year (FY 2024, resulting in a national deficit.And the national debt? The Treasury Department says:The national debt ($34.60...
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the package Mike Johnson announced Wednesday includes terms that will allow the President to cancel 50% of Ukraine’s debt after November 15, 2024 and the remaining 50% after January 1, 2024. It’s no wonder why Joe Biden came out “strongly” in support of the package, urging the House and Senate to pass it. After President Trump wins the 2024 election, as expected, Joe Biden can cancel 50% of Ukraine’s debt before his term is over in January. If Biden and the Democrats pull off another stolen election, they can forgive 100% of Ukraine’s debt a little over one year later.
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The International Monetary Fund sounded the alarm on the Biden administration’s rampant spending as “out of line with what is needed for long-term fiscal stability.” The latest forecast from the IMF — a Washington-based group tasked with fighting financial crises worldwide — warned that the ballooning national debt and the fiscal deficit threatened to exacerbate sky-high levels of inflation while posing a long-term risk to the global economy. The IMF noted in its forecast that the US federal budget deficit grew from $1.4 trillion in fiscal 2022 to $1.7 trillion last year. ... The debt held by the public, which...
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Illegal immigration weighs heavily on the wallets of hardworking American taxpayers - to the tune of hundreds of billions of dollars annually.Still, the Biden administration turns a blind eye to these fiscal strains, neglecting the toll on our economy, the structural integrity of our nation, and the safety of our citizens.Estimates suggest that illegal immigrants cost each household about $1,000, adding up to more than $120 billion a year.Sources such as Newsweek hint that the true cost may be even higher, possibly reaching $150 billion annually, an amount shared by both federal and state governments. In all actuality, the financial...
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California Gov. Gavin Newsom’s (D) administration lost track of the $24 billion in taxpayer funds it spent over the past five years in an attempt to curb the state’s homelessness crisis, an audit has found. The California State Auditor’s report, released on April 9, detailed multiple “gaps” in accountability in regards to how the money was allocated during the 2018-2023 fiscal years. Lead auditor Grant Parks said the state “has not collected sufficient data” to prove that the billions of dollars improved the situation.
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Denver, which is commonly referred to as a “sanctuary city,” announced on Wednesday that it will spend $89.9 million on services for incoming illegal migrants, pulling some of the funding from roughly $45 million in public programs and services. Denver’s police department will be hit with an $8.4 million reduction — about 1.9% of its total operating budget, the city confirmed to the Daily Caller News Foundation.
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Denver Mayor Mike Johnston’s administration is saddling Denver taxpayers with a whopping $90 million bill to address the ongoing illegal immigration crisis. The city implemented several measures to meet this substantial financial obligation, including freezing the hiring of approximately 160 vacant positions and reallocating funds from various sources. In his announcement, he signaled a major shift in Denver’s response to the migrant crisis.
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Madison is among several blue cities and states that used taxpayer-funded Covid aid for programs for illegal immigrants. A Wisconsin lawmaker is demanding answers from the city of Madison in the wake of a report showing the leftist enclave doled out hundreds of thousands of dollars in federal Covid relief funds to illegal immigrants. “The decision to use pandemic relief money to assist illegal immigrants at the expense of Wisconsinites reveals the out of touch priorities of Madison politicians,” Republican state Sen. Duey Stroebel said Thursday in a statement. His office has filed an open records request “to investigate the...
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The 75 largest cities in America were collectively $288 billion in debt at the end of fiscal year 2022... 53 major cities that do not have enough money to pay their bills. Yet all of them claimed their budgets were balanced, as is required by law. That means lawmakers understated each city’s debt by not including future costs like employee pensions and healthcare ... New York City has a taxpayer burden of $61,800, the largest by far despite being the most populous. The city has only six cents saved up for every dollar it will need to spend on retiree...
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Most readers regularly consume staggering numbers about our debt and deficit, but not all those that report this news will put those numbers in a perspective that provides meaningful context. I will try to do that here. The USA is on track to have a national debt of $35 trillion very soon, which is rising by $1 trillion about every 100 days. That’s $3.6 trillion every year. We’re no longer doling out free cash for COVID, so it’s a good assumption the $3.6 trillion additional annual debt is this administrations “business as usual.”According to Financebuzz total private wealth in the...
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Governor Gavin Newsom bragged of a surplus, but California is seriously underwater. The next recession will hit the state extremely hard.Golden State Budget FantasyThe City Journal founder Ed Ring comments on the Golden State Budget FantasyWhile finalizing the upcoming fiscal year’s state budget back in May 2022, California governor Gavin Newsom boasted of an extraordinary projected surplus: $97 billion. The governor immediately collaborated with an enthusiastic state legislature to spend it all. Of course, new spending on new programs and benefits tends to become permanent.This has happened repeatedly in California. Between fiscal year 2012–13 and fiscal year 2022–23 (the year...
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The collapse of the Francis Scott Key Bridge in Baltimore came as quite a shock. After a massive container ship struck one of the bridge’s pillars, the entire span quickly fell apart, costing several lives. It’s hard to overstate the bridge’s importance, particularly for the automobile industry. In addition to handling 11 million vehicles per year, it provided a vital way for trucks to access the Port of Baltimore while avoiding the dense city core. The impact on the region will be felt for months, if not years. The question is, what now? President Joe Biden has said that the...
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Illegal migrants outside the Roosevelt Hotel in Midtown Manhattan in New York. Migrants fill sidewalk outside the hotel waiting to register for shelter.“Let me tell you something New Yorkers, never in my life have I had a problem that I did not see an ending to — I don’t see an ending to this…This issue will destroy New York City.” This dire warning last September, just six months ago, from Mayor Eric Adams predicting that New York City was headed for destruction because of the euphemistically termed “migrant crisis.” Adams didn’t stop there, “Every community in this city is going...
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