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Keyword: spending

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  • Krugman: This Austerity Craze Is Just Mind-Boggling--It's As If We WANT The 1930s To Happen Again

    06/17/2010 8:46:14 PM PDT · by blam · 28 replies · 844+ views
    The Business Insider ^ | 6-17-2010 | Henry Blodget
    Krugman: This Austerity Craze Is Just Mind-Boggling--It's As If We WANT The 1930s To Happen Again Henry BlodgetJun. 17, 2010, 10:07 PM Paul Krugman continues to hammer away on the idea that the world's sudden lurch toward austerity will crush the recovery and send us tumbling back into recession. Suddenly, creating jobs is out, inflicting pain is in. Condemning deficits and refusing to help a still-struggling economy has become the new fashion everywhere, including the United States, where 52 senators voted against extending aid to the unemployed despite the highest rate of long-term joblessness since the 1930s. Many economists, myself...
  • Why prices never go down

    06/23/2025 11:29:48 AM PDT · by Angelino97 · 66 replies
    Enter Stage Right ^ | June 23, 2025 | Peter St. Onge
    Bidenflation is over. But if you feel like prices still aren't falling, you're not alone. Since Donald Trump took office, inflation has plunged from a Biden-era 5 percent to just 1.4%. This is actually below the Fed's target of 2%. Normally, at this point, the Fed would be trying to pump inflation since it's "too low." Of course, for the American people, 1.4% is not "too low." What they want is falling prices, as in take it back to pre-Biden prices. Will that happen? In short, no. Prices will never durably fall until we get rid of the Federal Reserve....
  • Winning: House Passes Rescissions Bill With Massive Spending Cuts, Package Moves to Senate

    06/12/2025 10:11:12 PM PDT · by SeekAndFind · 22 replies
    Red State ^ | 06/12/2025 | Ward Clark
    On Thursday, the United States House of Representatives narrowly passed the first rescissions package, which will eliminate billions in unnecessary spending by the federal government. The bill will now go to the Senate, where it requires only a simple majority to pass. This first rescissions package is said to cut $9.4 billion in spending.The House of Representatives passed President Donald Trump's $9.4 billion plan to claw back federal funds for foreign aid, PBS and NPR.The 214 to 212 vote was mostly along party lines, with no Democrats voting for the bill. Four Republicans voted against the measure, however – Reps....
  • 'You Heard Wrong': Top White House Official Addresses Claims There's 'Pork' in the Big Beautiful Bill

    06/09/2025 8:58:33 AM PDT · by SeekAndFind · 10 replies
    Townhall ^ | 06/09/2025 | Leah Barkoukis
    White House Deputy Chief of Staff Stephen Miller addressed claims there’s “pork” in the One Big Beautiful Bill, telling Salem radio host Charlie Kirk such rumors are false. "There’s no pork in the bill," he said. "The bill has been public for weeks. Every single provision is just one campaign pledge, one promise, one campaign vow after another. The only new spending in the bill is to secure the homeland of the United States and save American sovereignty — fully paid for, by the way, by increased visa fees on foreigners."He explained further:The 2017 Trump Tax Cuts were rightly hailed...
  • Former GOP senator, vet backs Obama

    10/27/2008 3:52:28 AM PDT · by WilliamReading · 70 replies · 1,514+ views
    Former Sen. Larry Pressler (R-S.D.), who was the first Vietnam veteran to serve in the United States Senate, is the latest Republican to back Sen. Barack Obama's presidential campaign, Politico learned Sunday. Pressler, who said that in addition to casting an absentee ballot for Obama he'd donated $500 to the Illinois senator's campaign, cited the Democrat's response to the financial crisis as the primary reason for his decision. "I just got the feeling that Obama will be able to handle this financial crisis better, and I like his financial team of [former Treasury Secretary Robert] Rubin and [former Federal Reserve...
  • Elon Musk is not just hurting himself – he’s hurting MAGA

    06/06/2025 8:45:12 AM PDT · by SeekAndFind · 74 replies
    The Spectator ^ | 06/06/2025 | Raheem Kassam
    Let’s face it, no one expected Trump’s “Big, Beautiful Bill” to be perfect. But for Elon Musk to adopt the intransigent position that the work of government should stop in its tracks in pursuit of perfection is a manifest nonsense. Especially when considering OMB chief Russ Vought’s explanation of how the bill helps reduce the deficit. Musk has a habit of failing to see the wood for the trees. He’s been a long-standing backer of China, which my website has reported on for years. He supported DeSantis, not Trump, in the primary. He recently tried to depose Brexit leader Nigel...
  • Elon Musk is Lashing Out at Trump’s ‘Big Beautiful Bill,’ But He’s Missing This Critical Point.

    06/06/2025 8:42:32 AM PDT · by SeekAndFind · 13 replies
    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...
  • Trump’s Cautious Clippers

    06/05/2025 7:00:23 AM PDT · by FreedomNotSafety · 3 replies
    The WSJ ^ | June 5, 2025 | Strassel
    “The (puny) ask: Elon Musk recently criticized the GOP’s “massive spending” reconciliation bill, which he says “undermines” the savings DOGE has found. White House deputy chief of staff Stephen Miller responded that Musk was wrong to expect reconciliation to lock in DOGE work, saying that the proper tool was rescission. “So where are the lock-ins? DOGE says it has identified some $180 billion in savings, though Congress needs to approve many of the grant cancellations and other clawbacks. “Yet the White House rescissions request is for a mere $9.4 billion—out of annual discretionary spending of $1.6 trillion. This (supposedly) cost-cutting...
  • DOGE, the Big Beautiful Bill and the 'Rich Men North of Richmond

    06/04/2025 6:45:00 AM PDT · by Starman417 · 36 replies
    Flopping Aces ^ | 06-04-25 | Vince
    I was under the illusion that with Donald Trump back in charge and the wind at his back Washington Republicans might actually take off the gloves and say eff-it and take on the swamp. With the failures inherent in the Big Beautiful Bill, it appears I was wrong. I don’t blame Trump. This abysmal betrayal of the American people was written in the halls of Congress… The Republicans in Congress talk a good game, but when it comes to actually doing what they say they’re going to do, it turns out they’re really snake oil salesmen. Not that this is...
  • ELON MUSK: I just can’t stand it anymore

    06/03/2025 10:46:53 AM PDT · by RandFan · 169 replies
    X ^ | June 3 | Elon Musk
    @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
  • The real problem with Trump’s Big Beautiful Bill

    06/03/2025 9:43:54 AM PDT · by SeekAndFind · 18 replies
    American Thinker ^ | 06/03/2025 | Jay Davidson
    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 Big Beautiful Bill and the 'Rich Men North of Richmond'

    05/29/2025 9:37:54 AM PDT · by SeekAndFind · 26 replies
    American Thinker ^ | 05/29/2025 | Vince Coyner
    I was under the illusion that, with Donald Trump back in charge and the wind at his back, Washington Republicans might actually take off the gloves, say eff-it, and take on the swamp. With the failures inherent in the Big Beautiful Bill, it appears I was wrong. I don’t blame Trump. This abysmal betrayal of the American people was written in the halls of Congress.The Republicans in Congress talk a good game, but when it comes to actually doing what they say they’re going to do, it turns out they’re really snake oil salesmen. Not that this is new. Remember...
  • What’s REALLY in the Big Beautiful Bill? (As the Markets see it )

    05/29/2025 8:21:21 AM PDT · by SeekAndFind · 10 replies
    Phoenix Capital Research ^ | 05/29/2025 | Graham Summers, MBA | Chief Market Strategist
    What’s really in the Big Beautiful Bill? Depending on who you listen to, the Big Beautiful Bill (BBB) is either an incredible piece of legislation that will codify tax cuts while also unleashing growth and reducing the deficit, OR it’s just another 1,000+ page of pork that maintains the status quo of overspending/ growing the deficit/ increasing the debt. The problem with this situation is that the people pushing these claims are either A) individuals who HATE the President and his agenda or B) individuals who work for the Trump administration and so have a vested interest in getting the...
  • Sen. Johnson: Trump’s Big Beautiful Bill ‘Unacceptable,’ No Way I’m Voting for This

    05/23/2025 9:50:45 AM PDT · by ChicagoConservative27 · 109 replies
    Breitbart ^ | 05/23/2025 | Pam Key
    Friday, in a clip that aired on MSNBC’s “Morning Joe,” Sen. Ron Johnson (R-WI) said President Donald Trump’s so-called “Big Beautiful Big” was unacceptable in its current form, as passed by the House of Representatives. Johnson told a reporter on Capitol Hill, “I couldn’t care less if he’s upset. I’m concerned about my children, my grandchildren, and the fact that we are stealing from them. We are stealing from our children and grandchildren. $37 trillion in debt, and we’re going to add to it as Republicans? That is unacceptable.” He added, “And that’s why there’s no way I’m going to...
  • Japan is Going Bust… and the U.S. is Not Far Behind

    05/22/2025 9:57:24 AM PDT · by SeekAndFind · 20 replies
    Phoenix Capital Research ^ | 05/21/2025 | Graham Summers
    As we keep warning… a debt crisis is coming.The first round appears to be striking Japan, which is the grandfather of monetary insanity. Japan first introduced Zero Interest Rate Policy (ZIRP) and large-scale Quantitative Easing (QE) programs nearly a decade before the Fed or other major central banks introduced similar policies. As a result of its near-nonstop interventions running for 25+ years, Japan’s Debt to GDP is over 200% and its central bank’s balance sheet is equal to 90% of the country’s GDP.As I noted yesterday, Japan finally appears to be losing control of its debt markets. Yields on the...
  • Billionaire Investor Ray Dalio, who predicted 2008 market crash, warns of US debt risks going beyond credit ratings; here's why

    05/22/2025 9:36:33 AM PDT · by SeekAndFind · 9 replies
    MINT ^ | 05/21/2025
    Billionaire investment manager Ray Dalio has warned that the risks of US debt go beyond credit ratings amid the US government's mounting debt in the current economic scenario. The founder of one of the world's largest hedge funds said that regarding the US debt downgrade, credit ratings understate risks because they rate the risk of the government not paying its debt. According to Dalio, credit rating agencies do not include the greater risk that countries in debt will print money to pay their debts, thus causing bondholders to suffer losses from the decreased value of the money they are getting...
  • Moody’s Downgrades USA Credit Rating From Aaa (M2 Money UP 40% Since Covid, Public Debt UP 56%, US CDS Down Near Greek Levels!)

    05/18/2025 5:40:33 PM PDT · by george76 · 32 replies
    Confounded Interest ^ | May 17, 2025
    Now you know why Trump is so eager to cut wasteful spending! The real mystery is why Democrats and RINOs are so determined to continue wasteful spending and not cut taxes. Trump inherited a fiscal disaster from Biden and Congress. Not to mention The Federal Reserve. Credit default swaps (CDS) for the USA are near Greece (and China) levels. ... Since Covid struck in 2020, US debt is up a staggering 56% ... And M2 Money is up 40% since Covid.
  • Cutting Federal Spending: The Case Of Food Stamps

    05/18/2025 5:12:42 AM PDT · by MtnClimber · 128 replies
    Manhattan Contrarian ^ | 16 May, 2025 | Francis Menton
    Down in the swamps of Washington, D.C., our Congress is said to be hard at work hammering out a budget for the coming fiscal year. With a crisis of massive deficits looming, supposedly they are going to come up with some major areas where government spending can be cut. One of the areas under consideration for significant cuts is the program formally known as the “Supplemental Nutrition Assistance Program,” or SNAP, and informally known as “food stamps.” According to the latest data from the Department of Agriculture, as of February 2025 the SNAP program had some 42+ million “participation persons,”...
  • Key GOP holdout on Trump’s ‘big, beautiful bill’ calls for deeper cuts to Medicaid, ‘Green New Deal’ spending (only 5.67 years left)

    05/17/2025 4:19:21 PM PDT · by Libloather · 42 replies
    NY Post ^ | 5/17/25 | Josh Christenson
    WASHINGTON — A key House Republican holdout on President Trump’s “big, beautiful bill” to provide tax cuts, border security, defense spending and green energy clawbacks is still calling for deeper spending cuts to chip away at the national debt — as the legislation heads for a critical vote Sunday. Rep. Chip Roy (R-Texas), one of several GOPers who tanked the bill in the House Budget Committee on Friday, says he and other fiscal hawks are still hoping for hundreds of billions dollars more in savings to help reduce the nation’s $36 trillion debt. The Texas Republican huddled with White House...
  • Republicans squabble over Trump spending plan as Fiscal Year 2026 looms: 'Stay until we pass it'

    05/06/2025 7:34:37 AM PDT · by ChicagoConservative27 · 21 replies
    Fox News ^ | 05/05/2025 | Chad Pergram
    President Donald Trump is proposing staggering spending cuts. In his budget request for fiscal year 2026, the president demands that Congress slash an eye-popping 20% of spending which lawmakers allocate each year. "You're going to see $150 billion (in cuts) passed in the House and the Senate. That is real money," said Budget Director Russ Vought on Fox News. "I think for the first time, this budget is not dead on arrival." To be clear, the budget which Mr. Trump sent to Capitol Hill is aspirational. All presidential budgets are. It’s what a president proposes that lawmakers – and his...