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@_wake_up_USA 🚨BREAKING: House Speaker Mike Johnson moves forward with a $95 billion dollar aid package, including funds for Ukraine, Israel, and Taiwan. $61 Billion for Ukraine $26 Billion for Israel $8 Billion for Taiwan

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...

A series of weak auctions for U.S. Treasurys are stoking investors’ concerns that markets will struggle to absorb an incoming rush of government debt. ... inflation not tamed ... Federal Reserve will leave interest rates at multidecade highs for .. years to come. The 10-year yield—the benchmark for borrowing rates on everything from mortgages to corporate loans—finished the week around 4.5%... At the same time, the government is poised to sell another $386 billion or so of bonds in May—an onslaught that Wall Street expects to continue no matter who wins November’s presidential election. While few fear a failed auction—an...

President Biden was at it again Tuesday, telling tall tales and shouting gibberish. He was speaking at Union Station in Washington, D.C. on the care economy—described by the United Nations as including “paid (employed in the formal and informal sectors) and unpaid work through which care is provided for others”—when he was interrupted by a heckler. The president angrily responded, “Well, I’ll tell you what…you wanna come make a speech or shush up, okay?” Then he took a look at the protester and thought better of it because, evidently, the guy looked tough. “I’m not messing around with him!” Biden...

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...

The US must be aware of and avoid Russian disinformation operations at all costs if it wants to maintain its Western values and help Ukraine win the war, conflict analysts argue."Basic facts are in question daily as the Kremlin floods the Western debate with its narratives," analysts at the Washington-based Institute for the Study of War said in a March 27 report.The analysts said that "the notion that the war is unwinnable because of Russia's dominance is a Russian information operation, which gives us a glimpse of the Kremlin's real strategy and only real hope of success."For years, Russia has...

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...

President Biden on Saturday signed a $1.2 trillion government funding bill to stave off a government shutdown, capping a frenetic sprint by lawmakers to pass the final batch of appropriations measures. Biden praised the measure as a compromise, and “good news for the American people.” “This agreement represents a compromise, which means neither side got everything it wanted,” Biden continued, emphasizing that it rejected “extreme cuts from House Republicans and expands access to child care, invests in cancer research, funds mental health and substance use care, advances American leadership abroad, and provides resources to secure the border that my Administration...

"More than half of the Republican conference voted against GOP House Speaker Mike Johnson's omnibus funding bill, rebuking the leader's efforts to avoid a shutdown ahead of Friday's deadline. The House voted on the spending package brokered by Johnson on Friday, passing the bill by a vote of 286 to 134. The bill needed 280 votes to pass. But while the legislation garnered enough bipartisan support to push it to the Senate, 112 House Republicans and 22 House Democrats voted against it. Only 101 members of Johnson's party voted in favor of the package. "

As Americans have continued to sound off over sticker shock on retail and grocery shelves, the U.S. Treasury secretary admitted Wednesday that her public predictions were wrong. "I regret saying it was transitory [inflation]. It has come down, but I think transitory means a few weeks or months to most people. And it's lasted longer than that," Janet Yellen told FOX Business’ Edward Lawrence in an exclusive interview. In early June 2021, Yellen had tamped down inflationary concerns, claiming rising costs and the contributing factors were "transitory," a term used to describe temporary market conditions. "We have in recent months...

Holders of commercial real estate (CRE) debt are riding the tiger. Meaning that if interest rates don’t come down, there will be a lot of pain and suffering. “We’re far from neutral now,” said America’s Fed Chairman, Jerome Powell, to the Senate Banking Committee. As The Fed moves closer to cutting rates. All those rent-seekers stacked up with commercial real estate holdings nodded in violent agreement. That of course includes the nation’s regional banks, which continue to succumb to the power of their systemically important rivals, now so big that they cannot possibly be allowed to fail. Sometimes neutral rates...

Buying a home has become increasingly out of reach for Americans, who are grappling with a double whammy of high interest rates and surging home values. In his State of the Union address on Thursday, President Joe Biden proposed a new tax credit that would provide $10,000 to first-time home buyers. Biden is also proposing a separate $10,000 tax credit for current homeowners who sell their "starter home" in order to jump into a bigger house. That could help melt a real estate market in which homeowners who locked in low mortgage rates during the pandemic and are hesitant to...

On Friday’s broadcast of the Fox News Channel’s “Your World,” Transportation Secretary Pete Buttigieg said that there is more work to be done on deficit reduction, President Joe Biden will continue to work on reducing the deficit, and that’s why the President has put out a proposal to raise taxes. After Buttigieg [relevant exchange begins around 2:20] said that Biden will “continue down the path of deficit reduction that he has achieved in his presidency,” host Neil Cavuto said, “We have more debt than we did when he assumed office. Debt has grown under this President. By the way, it’s...

A finance expert is sounding the alarm over America’s growing debt, predicting the $34 trillion burden could trigger a meltdown as early as next year if more isn’t done to curb spending. According to Joao Gomes, a senior vice dean for research and academic initiatives at Wharton Business School at the University of Pennsylvania, the United States’ growing debt could upset global financial markets in 2025 should the next president announce a raft of expensive policies following an election win in 2024. “The lack of concern by the media and politicians about the U.S. Federal Debt is shocking,” he said...

The Congressional Budget Office (CBO) now estimates that, this year, 2024, the U.S. federal government will spend more on interest on the national debt than on national defense. Or Medicare. You read that correctly. The CBO says that the federal government will spend $850 billion on defense, as opposed to $870 billion on debt interest. Moreover, interest payments on the national debt are the fastest-growing part of the preposterously bloated yet still fast-growing federal budget … and are projected to reach a mind-blowing $5.4 trillion by 2053. So, effectively, taxpayers are going to have their hard-earned money confiscated to pay...

A majority of Americans are living paycheck-to-paycheck. A majority don’t have enough money to pay for a thousand-dollar emergency. Home ownership is a rapidly dissipating aspect of the American dream. Americans’ credit card debt is at a record high because of high inflation and the cost-of-living, and they’re falling behind on debt payments. People don’t have enough money for retirement. So what is the solution? Well for some economists, it’s time to take away the tax benefit for 401(k) plans because the government is short of revenue to pay for their exorbitant spending. See here, from USA Today:What if the...

Newsom’s Fiscal Inferno! When Arnold Schwarzenegger was Governor California, his budget chief, a former high school pal of mine, called me to look at California’s budget. He sent me his spreadsheets with forecasts and asked me what I thought. Even back then, I called back and said “California is on an unsustainable fiscal path and seems to be committing suicide.” He agreed, but noted that Schwarzenegger would not like that conclusion. I told him to blame me for the report, as an unpaid consultant to The Golden State. But even back then, I could foresee the absolute mess that the...

House lawmakers on Friday floated a new bipartisan national security bill that would beef up security at the problematic US-Mexico border and provide much-needed aid to Ukraine. The “Defending Borders, Defending Democracies Act” would restore the Trump administration’s “Remain in Mexico” policy for one year, while also allowing border enforcement authorities to detain and immediately expel illegal aliens who don’t meet the threshold for asylum claims. The “Remain in Mexico” policy requires most migrants who reach the southern border — usually after leaving Central America or the Caribbean — to remain in Mexico while US courts review their asylum claims....

A McDonald’s outpost in Connecticut is being slammed for its “outrageous pricing” after a customer was charged more than $7 for an Egg McMuffin—and nearly $6 for a side of hash browns. “$7.29 for one McDonald’s Egg McMuffin. What has the world come to??” New York-based Bespoke Investment Group wrote on X of the breakfast sandwich, also posting a photo of the stiff bill.(snip) “These were 2 for $2 pretty recently,” the Bespoke account added in the X post, though the popular fast-food chain did away with that promotional offering in 2016. In a subsequent post, the Bespoke account noted...

The tale President Joe Biden tells is that his “Bidenomics” had a positive impact on the economy by reducing the budget deficit and getting inflation under control. The problem is that it’s just not true. On the one hand, we have the claims made by the White House and the Treasury, but on the other hand, we have the cold hard facts. Unfortunately for the White House, the final budget data for fiscal year 2023 tells the story of out-of-control spending, even outpacing rising revenues, and the devastating effects that can have on an economy through inflation.