40 Years of Trillion-Dollar Debt

On October 22, 1981—exactly 40 years ago today—America’s national debt hit $1 trillion for the first time.
“If we, as a nation, need a warning,” President Ronald Reagan said in a televised address a few weeks before the country surpassed the 13-figure debt threshold, “let that be it.”
Today, the national debt exceeds $28 trillion. In the fiscal year that concluded at the end of last month, the country added another $2.77 trillion to the pile, the Treasury Department announced just this morning.

Read original

40 Years of Trillion-Dollar Debt

On October 22, 1981—exactly 40 years ago today—America’s national debt hit $1 trillion for the first time.
“If we, as a nation, need a warning,” President Ronald Reagan said in a televised address a few weeks before the country surpassed the 13-figure debt threshold, “let that be it.”
Today, the national debt exceeds $28 trillion. In the fiscal year that concluded at the end of last month, the country added another $2.77 trillion to the pile, the Treasury Department announced just this morning.

Read original

How Democrats Could Hide $2 Trillion in New Spending With Budget Gimmicks

It now seems fairly certain unlikely that President Joe Biden’s $3.5 trillion “Build Back Better” will make it through the U.S. Senate as a $3.5 trillion spending plan.
Instead, the final version of the bill will probably have a topline spending figure of less than $2 trillion. Even Biden is now admitting as much. But it could have up to $2 trillion in additional, hidden costs, too—thanks to at least two potential changes that one budget watchdog group calls “blatant” gimmicks involving the expanded child tax credit and the Affordable Care Act.

Read original

How Democrats Could Hide $2 Trillion in New Spending With Budget Gimmicks

It now seems fairly certain unlikely that President Joe Biden’s $3.5 trillion “Build Back Better” will make it through the U.S. Senate as a $3.5 trillion spending plan.
Instead, the final version of the bill will probably have a topline spending figure of less than $2 trillion. Even Biden is now admitting as much. But it could have up to $2 trillion in additional, hidden costs, too—thanks to at least two potential changes that one budget watchdog group calls “blatant” gimmicks involving the expanded child tax credit and the Affordable Care Act.

Read original

How Democrats Could Hide $2 Trillion in New Spending With Budget Gimmicks

It now seems fairly certain unlikely that President Joe Biden’s $3.5 trillion “Build Back Better” will make it through the U.S. Senate as a $3.5 trillion spending plan.
Instead, the final version of the bill will probably have a topline spending figure of less than $2 trillion. Even Biden is now admitting as much. But it could have up to $2 trillion in additional, hidden costs, too—thanks to at least two potential changes that one budget watchdog group calls “blatant” gimmicks involving the expanded child tax credit and the Affordable Care Act.

Read original

This 3-minute video explains how a top Democrat turned paid family leave into an industry giveaway

In just over three minutes, People’s Policy Project founder Matt Bruenig on Tuesday explained in a video posted to social media how a paid leave proposal put forward in the U.S. House would be a “disaster” for working families—and a boon for the private insurance industry.
Produced by the outlet More Perfect Union, the video describes how House Ways and Means Committee Chairman Richard Neal (D-Mass.

Read original

The author whose story inspired Netflix’s Maid on why welfare is broken

Margaret Qualley as Alex in Netflix’s Maid, based on the memoir of the same title by Stephanie Land. | Ricardo Hubbs/Neflix
How Stephanie Land went from Vox article to book deal to Netflix show.
When Stephanie Land moved out of her abusive boyfriend’s house at age 29, she was a single mother, unemployed, with no savings and no college degree. So she did what she had to in order to keep herself and her daughter alive. She moved into a homeless shelter and then into subsidized housing, enrolled in every government program she could, and got a job as a maid.

Read original

Biden’s Epic Fail at Unity

X

Story Stream

recent articles

As a candidate, now-President Joe Biden said that if elected, he would bring the country together, heal partisan divisions and get things done. How’s that working out?
Sure, on the campaign trail, Biden seemed so convincing. He was the seasoned hand, a former vice president with 36 years in the Senate who knew the ways of Washington.
“We need to revive the spirit of bipartisanship in the country,” he said in Ohio in October 2020. He said he wanted to “work with one another.

Read original

LETTERS TO THE EDITOR: Government must budget like rest of us

OPINION:
President Biden and Congress raising OF the debt ceiling by $480 billion more is nothing of which to be proud. Both continue to ignore our national debt, which will exceed $29 trillion by December. This averages $86,710 per citizen, or $228,999 per taxpayer.
There are thousands of employees who are familiar with the details of our federal budget. How difficult can it be to find billions of dollars in savings? This could assist in reducing our frequent raising of the debt ceiling.
Millions of Americans cut their household budgets to make ends meet.

Read original

LETTERS TO THE EDITOR: Government must budget like rest of us

OPINION:
President Biden and Congress raising OF the debt ceiling by $480 billion more is nothing of which to be proud. Both continue to ignore our national debt, which will exceed $29 trillion by December. This averages $86,710 per citizen, or $228,999 per taxpayer.
There are thousands of employees who are familiar with the details of our federal budget. How difficult can it be to find billions of dollars in savings? This could assist in reducing our frequent raising of the debt ceiling.
Millions of Americans cut their household budgets to make ends meet.

Read original