Category Archives: deficit
There’s No Free Lunch, Unless You’re President Biden
Turns out there is a free lunch after all. At least if you believe Joe Biden. And who doesn’t these days? The president says his $3.5 trillion entitlement plan will cost “nothing.” “Because we’re going to raise the revenue.”
Trillion Dollar Operators in America
Google’s parent company, Alphabet, became the fourth American tech operation to reach a trillion dollar market value. Meanwhile President Trump released his budget, making Uncle Sam the only American operator with a trillion dollar deficit.
So, sorry Google, since this is only a 4 panel cartoon – you didn’t make the cut.
The End is Coming
Republicans pushed through a pro growth tax cut. But then they passed a budget full of deficit spending. On Face the Nation Rand Paul called his party hypocritical.
The End is Coming
Kevin Williamson at National Review calls Senator Paul “fantastically bitchy.”
But he also says “the end is coming.”
Yellen Takes Off Training Wheels
Janet Yellen took the training wheels off the economy on Wednesday. After seven years of near zero percent interest rates, the Fed hiked rates a quarter percent.
Meanwhile, Congress passed a 2,000 page, 1.2 trillion dollar budget. That tacked another 157 billion onto the 18.5 trillion dollar national debt.
Yellen
On Friday the Dow dropped 370 points.
David Stockman says, “sell the bonds, sell the stocks, sell the house”. IBD wonders if the markets know something the Fed doesn’t.
Fed Up
The Fed has kept the stock market and, so it claims, the U.S. economy afloat with low interest rates. The Dow lost 1500 points in the past week. World economic growth is stuck in the mud.
And with interest rates near zero, the Fed is low on flotation devices.
If income inequality is your thing, cheer up. Jeff Bezos lost $2.6 billion on Monday. Bloomberg has the fat cat score card here.
