They said it started under Clinton but went out of control under Obama. I bet the IRS estimates are way to low. An illegal claiming 5 kids living in mexico is crazy. That little worm IRS commissioner John Koskinen is …
by Frank Holmes, CEO, U.S. Global Investors This Valentine’s Day might best be remembered for two things in particular. One, for the first time in 153 years, candy lovers won’t be able to pick up a box of Sweethearts, those …
The bill expressly prohibits all future Presidents from building any border protections Including fences or walls The House Democrats’ proposed 2019 homeland security budget reopens the nation’s southern border to migrant inflows, while it also dangles the promise of cheap …
via mises: In our Principles of Microeconomics courses, we sometimes consider whether a firm should shutdown some line of production. A firm shuts down when it ceases operations, when it closes down and stops its production. The firm stops spending money …
via Reuters: China will step up fiscal spending this year to support its economy, focusing on further cuts in taxes and fees for small firms, finance ministry officials said on Wednesday. Mounting pressure on the world’s second-biggest economy pushed growth last …
via rollingstone: October 4th, 2018, was a busy news day. The fight over Brett Kavanuagh’s Supreme Court nomination dominated the cycle. The Trump White House received a supplemental FBI report it said cleared its would-be nominee of wrongdoing. Retired Justice John Paul Stevens …
by Jesse Colombo CNBC just published a piece about how venture capital spending hit an all-time high in 2018, surpassing the dotcom bubble record: Venture capital just had its highest spending year in history. The amount of money firms spent on private …
by deejay1974 Even people on very low income manage to save, and people on high incomes sometimes don’t – in both cases the key to success/failure is spending less than you earn. Even a few dollars less is enough to start …
by WhereIsFiber Regarding our country’s “Defense” spending, the 21 Trillion dollars in missing money and highly unusual adjustments covers just the years 1998 to 2015 (a 17-year period). (The title above says 1988, but titles can’t be edited after submission.) Yes, there are differences …
Nancy Pelosi Is Spending Shutdown at Hawaii Resort Democratic House leader Nancy Pelosi is spending the government shutdown at a luxury resort in Hawaii, the Washington Free Beacon has learned. Pelosi, who has put blame squarely on President Donald Trump for the current government shutdown, …
via Investors: The new report from the Government Accountability Office — a federal auditing agency — shows that of the $3.7 trillion the federal government spent in 2015, $3.2 trillion of it didn’t require authorization by Congress that year. In …
via ACLU.ORG: According to recent reports, congressional leaders from both sides of the aisle are planning to sneak a bill criminalizing politically motivated boycotts of Israel into the end-of-the-year omnibus spending bill. The bill’s original sponsor, Sen. Ben Cardin (D-Md.), is pushing …
by John Rubino The past few years have seen more than the usual amount of political upheaval. But, interestingly, most regime changes have resulted in pretty much the same thing: Higher government spending and bigger deficits. Apparently the only “reforms” today’s voters …
by moneymetals U.S. government agencies could run out of operating funds starting on midnight this Friday, December 7th. At issue: President Donald Trump’s proposed border wall. He wants Congress to commit $5 billion for construction of a wall along portions of …
by WARREN MOSLER Looking very weak: Highlights Construction has been a soft spot of the economy evident once again in October where spending fell 0.1 percent for the third straight decline and the fourth decline in five months. Spending on new …
by WARREN MOSLER No drama here: More housing weakness news: Highlights This has not been a good run for housing data. Pending home sales fell a very steep 2.6 percent in October which is far below Econoday’s consensus range. Existing …
via William Horobin Tax cuts and a spending splurge will be needed if the global economy slips into a sharp downturn because central banks have nothing left in the tank, according to the OECD. The world’s largest economies should stand ready to coordinate …
Josh Sigurdson talks with author and economic analyst John Sneisen about the continued raising of Canada’s deficit spending as it climbs $2 billion from its projected rate to $19.6 billion going into the 2019-2020 seasons. According to the Canadian government, …
by FS Financial Sense Newshour spoke with Ryan Sweet, director of real-time economics at Moody’s Analytics, to discuss his forecast for a holiday spending boom and 2020 bust. Ryan is considered one of the most accurate high-frequency forecasters of the …
by Frank Shostak via Mises Wire On Monday October 15 2018, the US Treasury Department released figures showing that the federal budget deficit had widened by 17% in the 2018 fiscal year, to $779 billion. Most experts see this widening in …
by WARREN MOSLER Income less than expected, spending ok, so savings fell: Highlights Income growth proved very slight in September with inflation steady and moderate and right on the Federal Reserve’s target. Personal income inched only 0.2 percent higher in …
Josh Sigurdson talks with author and economic analyst John Sneisen about the stunning level of spending by the Canadian government as the number breaches $300B pushing up Canada’s debt ratio. The deficit has been ranked at $19B. The overall spending …
via marketwatch: CEOs contributed to nonpartisan groups — No. 1 on the list being Amazon.com Inc. AMZN, -1.15% boss Jeff Bezos, due to his $10 million donation to With Honor Fund, a nonpartisan group that aims to help military veterans …
Feds Collect Record Individual Income Taxes in FY 2018; Still Run $779B Deficit (CNSNews.com) – The federal government collected a record $1,683,537,000 in individual income taxes in fiscal 2018 (October 2017 through September 2018), according to the Monthly Treasury Statement released …
by Gorgonsolaz So I had about 3700 in cc debt. I paid for an entire semester of classes and some other stuff. I just threw 1500, which was basically my most recent paycheck, at it (minus 50 bucks). I’m not …
Ted Farnsworth, the CEO of Helios and Matheson Analytics, which owns MoviePass, said on Tuesday that the company had raised $65 million in new funding. He also said MoviePass had controlled its spending since changing to a three-movies-per-month plan. MoviePass …
by Michael Snyder The primary reason why stock prices have been soaring in recent months is because corporations have been buying back their own stock at an unprecedented pace. In fact, the pace of stock buybacks is nearly double what it …
‘Unprecedented’ Government Spending Spree Picks Up Speed The federal government is primed to spend as much as $300 billion in the final quarter of fiscal 2018 as agencies rush to obligate money appropriated by Congress before Sept. 30 or return …
from Zero Hedge The summer spending spree is officially over. In August, the US consumer hit the breaks on spending as retail sales tumbled from 0.7% to just 0.1%, well below the 0.5% expected, driven by a decline in auto sales, …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter First sign: auto sales suddenly plunged. The Chinese government legalized peer-to-peer lending platforms in 2015. P2P sites attract money from individual investors – mostly savers – by offering them extraordinarily high yields. They lend this money …