Why are economists MIA on today’s biggest fiscal catastrophes?
Not long ago, economists debated in public over basic economic policy questions. Most important in the discussion was a conflict over fairness and efficiency. Efficiency drives economic growth and overall prosperity. Equity deals with how much of people’s income should go to the less fortunate. In general, an increase in capital risks a decrease in […]
Can It Drive Fiscal Reform?
April heralds two markers in Americans’ financial calendar. Neither brings joy. Their anguish reminds us of the dire need for fiscal reform before it’s too late. The first day is Tax Day on April 15, when you must file taxes to the IRS. The other day is Tax Freedom Day on April 16. The latter […]
Warren Buffett predicts feds will raise taxes to get massive fiscal deficit under control
Warren Buffett predicted that the federal government would raise taxes to rein in US deficit spending. “I think there’s a good chance of a tax increase,” the billionaire investor said Saturday at Berkshire Hathaway’s annual shareholder meeting in Omaha. “They may decide at some point that they don’t want the budget deficit to be this […]
Soaring interest costs to exceed defense spending as government faces fiscal reckoning
Soaring interest costs are set to exceed all defense spending this year, with the gap only growing over the next decade as lawmakers stare down major fiscal problems. This year, the United States will be shackled with $870 billion in payments on net interest. That is nearly 5.7% more than the $822 billion the government […]
A bipartisan fiscal commission could help lawmakers address our looming debt issues
In the words of Gerald Ford, one year from now, our long national nightmare will be over. At least until the November results are in, the nightmare will be over for about half the country. Someone has just been sworn in as president, a new Congress will be sworn in, and a divided government is […]
Monetary, fiscal policy divide pose risks: NABE
Former CKE Restaurant CEO Andy Puzder explains the importance of addressing the impact of wages on U.S. debt and restaurant affordability. As inflation eases and more economists bet on a soft landing for the U.S. economy, new risks of policy push and pull are emerging. The gulf between fiscal and monetary policy is a growing […]
Denver shelters reach capacity — start evicting 800 migrant families: ‘Humanitarian and fiscal crises’
Immigrant shelters in the sanctuary city of Denver, Colorado, have reached capacity and are beginning to turn families away. fox news digital Reported this week. Approximately 800 immigrant families currently living in shelters in Denver will be forced to leave as new immigrants continue to flow into the city, the news organization said. City officials […]
Jerome Powell says government on ‘unsustainable fiscal path’
Jerome Powell, chairman of the Federal Reserve System’s Board of Governors, said in an interview on “60 Minutes” that the government is on an “unsustainable fiscal path” over the long term, which means “debt is outpacing economic growth.” This means that it is increasing.” . ” Interviewer Scott Perry suggested Powell was concerned about the […]
Powell sounds alarm over US fiscal path
US national debt reaches record high $34 trillion The first increase occurred in early January, just over three months after it surpassed $33 trillion, according to data released by the U.S. Treasury Department. Congress ignores spending deadlines 3 times Since the end of September, the government has struggled to figure out how to fund the […]
Powell: ‘The US is on an unsustainable fiscal path’
“The United States is on an unsustainable fiscal path,” Federal Reserve Chairman Jerome Powell said in a 60 Minutes interview with Scott Pelley released Sunday. “The U.S. federal government is on an unsustainable fiscal path. And that means debt is growing faster than economic growth. So it’s unsustainable. That’s the argument. I don’t think there’s […]