Meanwhile, the federal government continues to spend money as if it has a printing press. The Biden administration blew through over half-a-trillion dollars last month alone. This brought total spending for fiscal 2022 to just over $4.4 trillion.
The post Influx of Tax Revenue Papering Over Federal Government Spending Problem first appeared on Tenth Amendment Center.
Brutus called a national debt "exceeding their ability ever to discharge” a calamity. But he was far from alone.
The post National Debt: A Calamity Upon Us first appeared on Tenth Amendment Center.
After running a budget surplus in April thanks to an influx of tax-day tax receipts, the federal government reverted back to deficit spending in May.
The post Big Government Spending Pushes Budget Back into Deficit Mode first appeared on Tenth Amendment Center.
The U.S. government ran a $170.64 billion budget deficit in August, pushing the total fiscal 2021 budget shortfall to $2.71 trillion with one month to go, according to the latest Monthly Treasury Statement.
The post Federal Spending Unabated; Deficit Continues Relentless Growth first appeared on Tenth Amendment Center.
After a briefly shrinking for two in May and June thanks to IRS tax collections, the U.S. government budget deficit ballooned again in July, hitting the third-highest number of fiscal 2021.
The post July Budget Deficit the Third Biggest of 2021 first appeared on Tenth Amendment Center.
Thomas Jefferson gave us the blueprint for dealing with the national debt.
This is the example modern presidents should follow.
The post Presidents Acting Like College Freshman With a New Credit Card first appeared on Tenth Amendment Center.
Supporters of the monster state want you to believe that it’s never enough. Spending, taxing, debt - and the like. President Madison and President Jefferson both saw things much differently - two examples on infrastructure and debt we never see today.
The post Madison and Jefferson on Infrastructure and Debt first appeared on Tenth Amendment Center.
As everyone knows, Republicans are as big spenders as Democrats are.
The post Debt, Debt, and More Debt first appeared on Tenth Amendment Center.
The Republican “Party of Fiscal Responsibility” continues to rack up debt at a staggering rate. The U.S. Treasury plans to borrow another $425 billion in the final quarter of 2018, bringing total borrowing for the year to $1.34 trillion. On today’s Good Morning Liberty, Michael Boldin (follow) covers this, plus the fact that Social Security […]
The Republican “Party of Fiscal Responsibility” continues to rack up debt at a staggering rate. The U.S. Treasury plans to borrow another $425 billion in the final quarter of 2018, bringing total borrowing for the year to $1.34 trillion, according to a Treasury Department press release. When it’s all said and done, the level of borrowing in […]