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“If “Too Late” at the Fed would CUT, we would greatly reduce interest rates, long and short, on debt that is coming due. Biden went mostly short term. There is virtually no inflation (anymore), but if it should come back, RAISE “RATE” TO COUNTER. Very Simple!!! He is costing our Country a fortune. Borrowing costs should be MUCH LOWER!!!”

Cook County has erased nearly $665 million in medical debt for local residents since launching the effort in 2022, according to new figures released Thursday. County leaders are celebrating the latest milestone of the program, which has so far helped almost 557,000 people have some of their debt abolished. The effort has relieved the most debt for people on Chicago’s South and West sides and in the south and west suburbs.The amount erased ranges from around $600 to $4,000 on average per person depending on where they live.

PULSE POINTS:❓What Happened: The Office of Management and Budget (OMB) says its analysis of President Donald J. Trump’s “One Big Beautiful Bill” finds the legislation introduces historic fiscal reforms, achieving $1.7 trillion in mandatory savings and reducing the deficit by $1.407 trillion. This analysis contradicts a fiscal score released by the Congressional Budget Office (CBO) that claims the bill would increase the deficit by $2.4 trillion.👥 Who’s Involved: President Donald J. Trump, the Congressional Budget Office (CBO), the Office of Management and Budget (OMB), OMB Director Russ Vought, Elon Musk, and the U.S. Congress.📍 Where & When: The OMB’s top-line...

Today my latest book, How Countries Go Broke: The Big Cycle , is being released. This note is to share what it says in a nutshell. To me, what matters most is conveying understanding at this critically important moment, so I want to pass the key ideas in extreme brevity in this note, as well as comprehensively in the book, and leave it to you decide how deep you want to go. Where I'm Coming FromI have been a global macro investor for over 50 years, have bet on government debt markets for nearly as long, and have done very...

Rep. Marjorie Taylor Greene vows to oppose the One Big Beautiful Bill when it returns to the House if there are no changes made to the artificial intelligence provision. Greene says she was unaware of the AI provision when she first voted for the bill and now argues it would endanger state rights, risk job losses in her manufacturing-heavy district, and open the door to forced property seizures. Facing criticism for missing the provision, Greene defended her transparency, claiming no other lawmakers publicly flagged the AI clause and pledging to fight any future legislation that limits state authority over AI...

Smart people can be really dumb. Sometimes it’s preferable to just be brilliant, rather than genius. For the majority of us in the middle of the Bell Curve, being smart-enough is sufficient to be commonsense conservatives. Elon Musk is in the genius category, and comes with some of the hazards associated with a high IQ. Indeed, he is capable of stupidity, sometimes in business (Tesla Cybertruck “Armour glass” demonstration and overpaying for Twitter, are just two examples). And sometimes in politics, as evidenced by calling the big, beautiful bill (BBB) a “pork-filled, disgusting abomination.” As stark as that criticism is,...

CBO projects $3T added to debt from bill that tackles tax policy, border security, healthcare reforms President Donald Trump's "big, beautiful bill" is projected to increase the debt by $3 trillion, with interest, or $5 trillion if made permanent, according to estimates. An estimate of the House-passed bill by the nonpartisan Congressional Budget Office (CBO) projects it would add more than $2.4 trillion to primary deficits before interest over 10 years, according to the Committee for a Responsible Federal Budget (CRFB), a nonprofit public policy organization. As of Wednesday, the national debt, which measures what the U.S. owes its creditors,...

President Donald Trump shared on Wednesday that he wants the debt limit “scrapped,” which Sen. Elizabeth Warren (D-MA) has also called for. Trump issued a statement on Truth Social Wednesday afternoon. “I am very pleased to announce that, after all of these years, I agree with Senator Elizabeth Warren on SOMETHING. The Debt Limit should be entirely scrapped to prevent an Economic catastrophe,” he wrote. “It is too devastating to be put in the hands of political people that may want to use it despite the horrendous effect it could have on our Country and, indirectly, even the World,” he...

Elon Musk has warned "if the massive deficit spending continues," there will be no money for Social Security, health care or defense, as he continues opposition to President Donald Trump's "Big Beautiful Bill." The tech billionaire and former head of the Department of Government Efficiency (DOGE) made the comment about Trump's spending package on his Truth Social website in the early hours of June 4. Newsweek contacted Musk for comment via the SpaceX and Tesla press offices outside of regular office hours on Wednesday. Why It Matters The House narrowly passed Trump's budget package on May 22 in a 215-214...

President Trump on Wednesday doubled down on calls to scrap the nation’s debt ceiling, pressing for bipartisan action to abolish it and finding common ground with Democrat Sen. Elizabeth Warren (Mass.). “I am very pleased to announce that, after all of these years, I agree with Senator Elizabeth Warren on SOMETHING. The Debt Limit should be entirely scrapped to prevent an Economic catastrophe. It is too devastating to be put in the hands of political people that may want to use it despite the horrendous effect it could have on our Country and, indirectly, even the World. As to Senator...

"Im sorry, but I just can't stand it anymore...This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination...Shame on those who voted for it: you know you did wrong. You know it."

Paul said he refuses to support "maintaining Biden spending levels," and Musk said the Trump-backed tax bill is "a disgusting abomination."The intra-Republican fight over the future of a major tax and borrowing bill intensified on Tuesday, as President Donald Trump lashed out and former White House favorite Elon Musk offered a sharp criticism of the proposal. The whole thing played out, as today's political dramas so often do, in a series of posts on social media. Trump slammed Sen. Rand Paul (R–Ky.) in a Tuesday morning post on Truth Social that accused the senator of having "very little understanding" of...

@elonmusk I’m sorry, but I just can’t stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it

Days after attacking a megabill that advances President Donald Trump's legislative agenda, Elon Musk slammed it again on Tuesday calling it a "disgusting abomination" in a post on X."I'm sorry, but I just can't stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination," Musk wrote of the House-passed bill. "Shame on those who voted for it: you know you did wrong. You know it."Musk followed up with another post claiming the bill "will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America citizens with crushingly unsustainable debt."

Tech mogul Elon Musk went on a tirade Tuesday against President Trump’s marquee One Big Beautiful Bill Act days after leaving the administration — ripping the legislation as an “abomination” and condemning lawmakers who supported it. “I’m sorry, but I just can’t stand it anymore,” the Tesla and SpaceX CEO wrote on his X platform. “This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. “Shame on those who voted for it: you know you did wrong. You know it.” Musk had previously dropped hints of his disdain for the megabill, politely telling “CBS Sunday Morning” in an interview...

President Trump rounded on Sen. Rand Paul Tuesday over the Republican lawmaker’s opposition to the House-passed One Big Beautiful Bill Act due to its impact on the debt. “Rand votes NO on everything, but never has any practical or constructive ideas,” Trump groused on Truth Social. “His ideas are actually crazy (losers!). The people of Kentucky can’t stand him. This is a BIG GROWTH BILL!” In an earlier post, Trump, 78, had complained that Paul “has very little understanding of the BBB, especially the tremendous GROWTH that is coming. He loves voting ‘NO’ on everything, he thinks it’s good politics,...

The Big Beautiful Bill is 1,100 pages. Massive. The arguments for and against are deafening. And all miss the point.“So here’s the thing. Despite all the spending cuts, the Beautiful Bill still increases the federal deficit by $3.8 trillion over 10 years, according to the Congressional Budget Office.”—Lawrence Wilson, The Epoch TimesConclusions based on principle, if that principle is forged on the bedrock of eternal truth, blow away petty arguments, which fall away like chaff.Prior to our nation’s inception, the masses were taught that the divine spark resides in a pharaoh, a pope, a monarch. In the world of politics...

The U.S. government has an interest problem. Just how bad is it? Really bad. Most people intuitively understand that massive budget deficits aren't sustainable. They recognize you can't live indefinitely on a credit card. Granted, it is fair to say government finance isn't the same as personal finance, nevertheless, Joe Sixpack's intuition is on target. Uncle Sam can't keep borrowing and spending at the current pace forever. Eventually, the debt bubble will pop, and that moment looms closer with each passing day. We're starting to see warning signs. After Moody's downgraded the U.S. credit rating, bonds sold off, causing interest...

President Donald Trump on Saturday warned Sen. Rand Paul, R-Ky., he would be “playing right into the hands of the Democrats” if he votes against Trump’s “Big, Beautiful Bill.” “If Senator Rand Paul votes against our Great, Big, Beautiful Bill, he is voting for, along with the Radical Left Democrats, a 68% Tax Increase and, perhaps even more importantly, a first time ever default on US Debt,” Trump wrote on Truth Social Saturday afternoon. “Rand will be playing right into the hands of the Democrats, and the GREAT people of Kentucky will never forgive him! The GROWTH we are experiencing,...

Sen. Elizabeth Warren, D-Mass., said on Friday she agrees with President Donald Trump’s call to eliminate the debt limit, urging bipartisan action to scrap it permanently. In a post on X, Warren wrote: “@realDonaldTrump and I agree: the debt limit should be scrapped to prevent an economic catastrophe.” “Let’s pass a bipartisan bill and get rid of it forever,” she added. The senator also said “jacking up the debt limit by $4 trillion to fund more tax breaks for billionaires is an outrage,” in an attack on a GOP-backed tax bill to enact Trump’s priorities. Warren’s post cited comments Trump...