Three charts show the devastating impact that Covid lockdowns had on U.K. public finances as the IFS think tank warns that neither Labour nor the Tories have any room for tax cuts or spending splurges.
First posted on ScheerPost. “Rather than collecting taxes from the wealthy,” wrote the New York Times Editorial Board in a July 7 opinion piece, “the government is paying the wealthy to borrow their money.” Titled “America Is Living on Borrowed Money,” the editorial observes that over the next decade, according to the Congressional Budget Office […]
The war industry, a state within a state, disembowels the nation, stumbles from one military fiasco to the next, strips us of civil liberties and pushes us toward suicidal wars with Russia and China.
The post Chris Hedges: The Enemy From Within appeared first on MintPress News.
The progressive fantasy and shakedown attempt by black militants continues as San Francisco says it should pay $5 million to every long term black resident of California. In the UK, the Church Of England is making similar noises. The real question isn’t how much should blacks be paid by their supposed white oppressors but why […]
Both Democrats and Republicans failed the Americans by over spending and leading the US on the path to bankruptcy. Interest payments on the debt totaled $522.7 billion in FY2020 alone. The federal debt is over $80,000 dollars per capita, which is about 50% more than the median income in the country.
Back to our example, having repaid his debt, the bank takes a $10 fee – its profit – and the other $40 is credited to the customer’s regular account.
The big question is, if the banks can practise this sleight-of-hand for profit, why can’t our governments do so for the public good? The short answer is there are too many people on the take. Think Deep State, Dan, then you will understand.
Former Secret Service agent Dan Bongino (pictured) hosts one of the largest conservative shows on YouTube and other media.
His analyses of politics are often spot on, as are his pithy sayings. Two of his favourites are:
all debts are paid
and
there is no power in yes.
The first is actually quite a profound statement, and if you don’t understand the second, think of how many times you’ve been told “No!” by bureaucrats and other jobsworths, then you will understand.
Wall Street road sign with the New York Stock Exchange bearing American flags visible in the background. (Photo: Alex Proimos. Source: Wikicommons)
Hossein Askari
The Globe Post
Judge Napolitano says that US debt at the end of President Trump's first term will be $27-TRILLION, because his newly passed budget adds $6-trillion in debt per year, or one-million dollars per minute, above what is collected in taxes. The debt is so high, and the government borrows so much, that 40% of all its present revenue goes to pay for interest on debt for goods and services already consumed. Future generations will be paying for goods and services that were consumed before they were ever born!
Every time a president proposes to cut anything in the $4 trillion federal budget — up from $1.8 trillion in Bill Clinton’s last budget — reporters race to find “victims.” And of course no one wants to lose his or her job or subsidy, so there are plenty of people ready to defend the value of each and every government check. If the budget could be cut by, say, $1 trillion — taking it back to the 2008 level — how much good could that money do in the hands of families and businesses?
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