Free Republic

President Trump on Wednesday floated the idea of issuing every American adult a $5,000 “dividend” check if his party kept control of the House and Senate in November — an extraordinary offer that would cost more than $1 trillion and likely would require congressional approval. “It will be called the Trump dividend,” he said at the Republican midterm convention in Dallas. He added a caveat: The money must be spent in the United States, though he did not say how the government could track where private citizens used the funds. He offered few additional details about the idea. How could...

President Trump’s pledge to distribute $5,000 to every U.S. adult if Republicans win the midterms is drawing backlash from Republicans and Democrats as the president’s allies are forced to explain and defend the proposition. Fiscal hawks, including Rep. Chip Roy (R-Texas), openly questioned how the government would be able to afford to pay 270 million Americans that much money, while others have likened Trump’s proposal to bribery. “Maybe some of us think dependency is evil & soul-sucking in all its forms,” Roy wrote in a post on the social platform X, referring to Trump’s idea. Former Rep. Bob Good (R-Va.),...

The Federal Reserve Bank of New York released a troubling quarterly statement as the total household debt in the US increased by $185 billion in the past three months, up 1% from last quarter, when total household debt reached $18.9 trillion. Total household debt in the US now sits at $18.39 trillion. Housing debt increased 1.1% from April to June, now standing at $149 billion. Mortgage balances increased by $131 billion, notably the largest cause of household debt. Mortgage originations increased at a modest pace with $458 billion of debt added, while HELOC balances grew by $9 billion to $411...

The Big Beautiful Bill Act (BBBA) will add trillions of dollars to the national debt over the next decade. Elon Musk is right that this is a turning point for American citizens. It is now clear that neither political party has the will to enact a fiscally responsible budget or solve the debt crisis. Musk threatens to form a third party if Congress kicks this can down the road. The budget process is broken, as special interests continue to carve out their bits of a spoils system. Congress is not even willing to discuss reforms in Social Security and Medicare....