#federal-deficit — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #federal-deficit, aggregated by home.social.
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Bessent grilled on the claim that ‘K-shaped economy is over’ https://www.byteseu.com/2368699/ #Congress #EconomicPolicies #economy #FederalDeficit #FieldingQuestions #RitchieTorres #ScottBessent
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Trump Promises $5,000 If Republicans Win: Why Opponents Should Take It Seriously
Trump says adults could get $5,000 if Republicans keep Congress. Here’s why the promise matters politically—and what the law, budget math and economists actually say.
#5 #000Checks #2026MidtermElections #campaignPromises #Congress #congressionalApproval #directPayments #DonaldTrump #ElectionLaw #federalDeficit #federalSpending #inflation #politicalCommunication #politicalMessaging #RepublicanParty #stimulusChecks #tariffRevenue #TrumpDividend #USEconomy #voteBuying #voterTurnout https://wp.me/p1OjMZ-pba -
Trump Promises $5,000 If Republicans Win: Why Opponents Should Take It Seriously
Trump says adults could get $5,000 if Republicans keep Congress. Here’s why the promise matters politically—and what the law, budget math and economists actually say.
#5 #000Checks #2026MidtermElections #campaignPromises #Congress #congressionalApproval #directPayments #DonaldTrump #ElectionLaw #federalDeficit #federalSpending #inflation #politicalCommunication #politicalMessaging #RepublicanParty #stimulusChecks #tariffRevenue #TrumpDividend #USEconomy #voteBuying #voterTurnout https://wp.me/p1OjMZ-pba -
Trump Promises $5,000 If Republicans Win: Why Opponents Should Take It Seriously
Trump says adults could get $5,000 if Republicans keep Congress. Here’s why the promise matters politically—and what the law, budget math and economists actually say.
#5 #000Checks #2026MidtermElections #campaignPromises #Congress #congressionalApproval #directPayments #DonaldTrump #ElectionLaw #federalDeficit #federalSpending #inflation #politicalCommunication #politicalMessaging #RepublicanParty #stimulusChecks #tariffRevenue #TrumpDividend #USEconomy #voteBuying #voterTurnout https://wp.me/p1OjMZ-pba -
Trump Promises $5,000 If Republicans Win: Why Opponents Should Take It Seriously
Trump says adults could get $5,000 if Republicans keep Congress. Here’s why the promise matters politically—and what the law, budget math and economists actually say.
#5 #000Checks #2026MidtermElections #campaignPromises #Congress #congressionalApproval #directPayments #DonaldTrump #ElectionLaw #federalDeficit #federalSpending #inflation #politicalCommunication #politicalMessaging #RepublicanParty #stimulusChecks #tariffRevenue #TrumpDividend #USEconomy #voteBuying #voterTurnout https://wp.me/p1OjMZ-pba -
FO Exclusive: Global Economy Teetering on Brink of Major Crisis
Glenn Carle” post_date=”September 12, 2026 05:23″ pUrl=”https://www.fairobserver.com/economics/fo-exclusive-global-economy-teetering-on-brink-…
#Economy #AI #artificialintelligence #bondyields #creditcarddebt #federaldeficit #FIMARepoFacility #globaleconomy #GlobalTrade #Inflation #iranwar #japaneseyen #MagnificentSevenstockmarket #socialsecurity #StraitofHormuz #tariffs #usdollar #USnationaldebt
https://www.europesays.com/3247167/ -
Trump Exposed: DOGE, Tariffs, Manufacturing and Military Promises Collapse
Charts expose Trump’s exploding debt, failed DOGE promises, exaggerated tariff claims, manufacturing losses, and reckless military escalation.
#AmericanWorkers #CongressionalBudgetOffice #CorporateMedia #CorporateTaxCuts #DOGE #DOGEFailure #DonaldTrump #EconomicInequality #ElonMusk #EndlessWars #federalDeficit #ForeignPolicy #IndependentMedia #IranWar #MainstreamMedia #manufacturingDecline #manufacturingJobs #militaryEscalation #MorningJoe #nationalDebt #PoliticsDoneRight #ProgressivePolitics #SteveRattner #tariffTax #TrumpEconomicFailure #TrumpEconomy #TrumpTariffs #workingClass https://wp.me/p1OjMZ-p65 -
Trump Exposed: DOGE, Tariffs, Manufacturing and Military Promises Collapse
Charts expose Trump’s exploding debt, failed DOGE promises, exaggerated tariff claims, manufacturing losses, and reckless military escalation.
#AmericanWorkers #CongressionalBudgetOffice #CorporateMedia #CorporateTaxCuts #DOGE #DOGEFailure #DonaldTrump #EconomicInequality #ElonMusk #EndlessWars #federalDeficit #ForeignPolicy #IndependentMedia #IranWar #MainstreamMedia #manufacturingDecline #manufacturingJobs #militaryEscalation #MorningJoe #nationalDebt #PoliticsDoneRight #ProgressivePolitics #SteveRattner #tariffTax #TrumpEconomicFailure #TrumpEconomy #TrumpTariffs #workingClass https://wp.me/p1OjMZ-p65 -
Hey #economics friends - is my attempt at understanding too simple here, thinking that this should be fairly straightforward math to course correct? e.g. if we reduced gov’t spending (e.g. on military) and taxed at a higher rate, we could see these numbers trend in a better direction? #economy #nationaldebt #federaldeficit #uspol #USPolitics
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Hey #economics friends - is my attempt at understanding too simple here, thinking that this should be fairly straightforward math to course correct? e.g. if we reduced gov’t spending (e.g. on military) and taxed at a higher rate, we could see these numbers trend in a better direction? #economy #nationaldebt #federaldeficit #uspol #USPolitics
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Hey #economics friends - is my attempt at understanding too simple here, thinking that this should be fairly straightforward math to course correct? e.g. if we reduced gov’t spending (e.g. on military) and taxed at a higher rate, we could see these numbers trend in a better direction? #economy #nationaldebt #federaldeficit #uspol #USPolitics
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Hey #economics friends - is my attempt at understanding too simple here, thinking that this should be fairly straightforward math to course correct? e.g. if we reduced gov’t spending (e.g. on military) and taxed at a higher rate, we could see these numbers trend in a better direction? #economy #nationaldebt #federaldeficit #uspol #USPolitics
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Hey #economics friends - is my attempt at understanding too simple here, thinking that this should be fairly straightforward math to course correct? e.g. if we reduced gov’t spending (e.g. on military) and taxed at a higher rate, we could see these numbers trend in a better direction? #economy #nationaldebt #federaldeficit #uspol #USPolitics
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Debt Tops $40 Trillion Under Trump, With No Plan in Sight
Debt tops $40 trillion for the first time as failed tariffs, a costly tax bill and soaring interest costs push federal borrowing to a historic new high.https://thedemocracyadvocate.com/economic-policy/debt-tops-40-trillion/
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Debt Tops $40 Trillion Under Trump, With No Plan in Sight
Debt tops $40 trillion for the first time as failed tariffs, a costly tax bill and soaring interest costs push federal borrowing to a historic new high.https://thedemocracyadvocate.com/economic-policy/debt-tops-40-trillion/
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Debt Tops $40 Trillion Under Trump, With No Plan in Sight
Debt tops $40 trillion for the first time as failed tariffs, a costly tax bill and soaring interest costs push federal borrowing to a historic new high.https://thedemocracyadvocate.com/economic-policy/debt-tops-40-trillion/
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Debt Tops $40 Trillion Under Trump, With No Plan in Sight
Debt tops $40 trillion for the first time as failed tariffs, a costly tax bill and soaring interest costs push federal borrowing to a historic new high.https://thedemocracyadvocate.com/economic-policy/debt-tops-40-trillion/
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Canada’s federal deficit widens to $19.4bn as carbon tax removal hits revenue
Federal spending rose $1.2 billion, or 0.8%, with higher outlays on goods and services accounting for $800 million…
#Canada #Canadianfederalbudget #federaldeficit #StatisticsCanada
https://www.europesays.com/canada/108397/ -
https://www.europesays.com/people/132464/ Warren Buffett Said He’d Fix U.S. Deficit In ‘5 Minutes’ By Passing A Law — ‘If You Guys Can’t Get It Done, We’ll Get Some Other Guys To Get It Done’ #BerkshireHathaway #FederalDeficit #MembersOfCongress #PassiveIncome #PersonalFinance #RealEstate #WarrenBuffett
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https://www.europesays.com/people/111640/ Mike Johnson Is Talking About Cutting Social Safety Net Programs — Again #CongressionalBudgetOffice #EntitlementPrograms #FederalDeficit #JayClayton #johnson #MikeJohnson #PresidentTrump #Republicans #SocialSecurity #SocialSecurityTrustFund #TruthSocial #TulsiGabbard
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💸 𝐓𝐡𝐞 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐛𝐭 𝐉𝐮𝐬𝐭 𝐇𝐢𝐭 $39.2 𝐓𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐧𝐝 𝐈𝐭'𝐬 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐄𝐯𝐞𝐫𝐲 𝐌𝐢𝐧𝐮𝐭𝐞 #𝐝𝐞𝐛𝐭 #𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥𝐝𝐞𝐛𝐭 #𝐟𝐞𝐝𝐞𝐫𝐚𝐥𝐝𝐞𝐛𝐭 #𝐟𝐞𝐝𝐞𝐫𝐚𝐥𝐝𝐞𝐟𝐢𝐜𝐢𝐭
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💸 𝐓𝐡𝐞 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐛𝐭 𝐉𝐮𝐬𝐭 𝐇𝐢𝐭 $39.2 𝐓𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐧𝐝 𝐈𝐭'𝐬 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐄𝐯𝐞𝐫𝐲 𝐌𝐢𝐧𝐮𝐭𝐞 #𝐝𝐞𝐛𝐭 #𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥𝐝𝐞𝐛𝐭 #𝐟𝐞𝐝𝐞𝐫𝐚𝐥𝐝𝐞𝐛𝐭 #𝐟𝐞𝐝𝐞𝐫𝐚𝐥𝐝𝐞𝐟𝐢𝐜𝐢𝐭
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💸 𝐓𝐡𝐞 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐛𝐭 𝐉𝐮𝐬𝐭 𝐇𝐢𝐭 $39.2 𝐓𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐧𝐝 𝐈𝐭'𝐬 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐄𝐯𝐞𝐫𝐲 𝐌𝐢𝐧𝐮𝐭𝐞 #𝐝𝐞𝐛𝐭 #𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥𝐝𝐞𝐛𝐭 #𝐟𝐞𝐝𝐞𝐫𝐚𝐥𝐝𝐞𝐛𝐭 #𝐟𝐞𝐝𝐞𝐫𝐚𝐥𝐝𝐞𝐟𝐢𝐜𝐢𝐭
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💸 𝐓𝐡𝐞 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐛𝐭 𝐉𝐮𝐬𝐭 𝐇𝐢𝐭 $39.2 𝐓𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐧𝐝 𝐈𝐭'𝐬 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐄𝐯𝐞𝐫𝐲 𝐌𝐢𝐧𝐮𝐭𝐞 #𝐝𝐞𝐛𝐭 #𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥𝐝𝐞𝐛𝐭 #𝐟𝐞𝐝𝐞𝐫𝐚𝐥𝐝𝐞𝐛𝐭 #𝐟𝐞𝐝𝐞𝐫𝐚𝐥𝐝𝐞𝐟𝐢𝐜𝐢𝐭
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💸 𝐓𝐡𝐞 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐛𝐭 𝐉𝐮𝐬𝐭 𝐇𝐢𝐭 $39.2 𝐓𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐧𝐝 𝐈𝐭'𝐬 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐄𝐯𝐞𝐫𝐲 𝐌𝐢𝐧𝐮𝐭𝐞 #𝐝𝐞𝐛𝐭 #𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥𝐝𝐞𝐛𝐭 #𝐟𝐞𝐝𝐞𝐫𝐚𝐥𝐝𝐞𝐛𝐭 #𝐟𝐞𝐝𝐞𝐫𝐚𝐥𝐝𝐞𝐟𝐢𝐜𝐢𝐭
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Elon Musk Says 100% ‘This Is The Way’ Endorsing Warren Buffett’s Famous 5-Minute Plan to Fix the Deficit – And It Has Nothing To Do With Your Taxes
Elon Musk once said he wants to die on Mars, just not on impact. Warren Buffett, meanwhile, seems…
#UnitedStates #US #USA #BerkshireHathaway #deficitproblem #ElonMusk #federaldeficit #membersofCongress #Musk #WarrenBuffett
https://www.europesays.com/2848038/ -
Carney says Canada needs to ‘swing for the fences again’ ahead of first budget https://www.byteseu.com/1475527/ #Budget #BudgetDeficit #Canada #Carney #CarneyBudget #CarneySpeech #FederalBudget #FederalDeficit #FederalGovernment #LiberalsBudget #MarkCarney
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Trump’s Attack on the Fed Won’t Fix the Deficit – Jessica Riedl – The Dispatch
Illustration by Noah Hickey/The Dispatch. (Photos via Getty Images)Trump Can’t Fix the Deficit by Attacking the Federal Reserve
The president claims lower interest rates would save us $1 trillion annually. He’s wrong.
Jessica Riedl/September 23, 2025
President Trump has declared war on the prized independence of the Federal Reserve in an attempt to essentially run monetary policy out of the White House. He has attempted—illegally and on dubious grounds— to fire Fed Gov. Lisa Cook, threatened to fire Chairman Jerome Powell, and installed a top White House economist into a key Federal Reserve position. This White House pressure surely drove the Fed’s decision to reduce rates by 0.25 points on September 17.
Going to war against the Federal Reserve seems baseless when current interest rates—while above the anomalous 2010s levels—are not high by historical standards. Moreover, rates are not holding back the current economy, and they may even be too low to combat the recent inflation uptick. However, President Trump has offered an additional argument: Lower interest rates would reduce Washington’s interest on the national debt, “saving us $1 Trillion per year” in reduced budget deficits. This sacrificing of Federal Reserve independence to help the Treasury sell cheaper debt is known to economists as “fiscal dominance.”
Setting aside legitimate concerns over central bank independence and the illegal firing of Fed officials, would fiscal dominance really provide substantial budget deficit savings? The clear answer is no.
Trump is correct that mounting interest costs threaten to bury the federal budget. The toxic combination of soaring debt and elevating interest rates has expanded what the government spends on interest annually from $352 billion in 2021 to nearly $1 trillion today—heading toward $2 trillion within the next decade. Interest costs are the second-biggest budget item after Social Security, having recently surpassed Medicaid, defense, and Medicare spending. Within a decade, nearly 30 percent of all annual taxes paid may go toward interest on the national debt. To put that in perspective, it amounts to nearly four months of annual federal tax revenue.
Yet instead of working with Congress on a deficit reduction plan, President Trump has chosen to increase deficits further with more tax cuts, and then try to force downward the interest rate on the federal debt.
Continue/Read Original Article Here: Trump’s Attack on the Fed Won’t Fix the Deficit – Jessica Riedl – The Dispatch
#2025 #America #DonaldTrump #Education #FederalDeficit #FederalReserve #Health #History #JeromePowell #Libraries #LibraryOfCongress #LisaCook #Opinion #Politics #Resistance #Science #TaxCuts #TheDispatch #Trump #TrumpAdministration #UnitedStates #WhiteHouse
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Trump’s Attack on the Fed Won’t Fix the Deficit – Jessica Riedl – The Dispatch
Illustration by Noah Hickey/The Dispatch. (Photos via Getty Images)Trump Can’t Fix the Deficit by Attacking the Federal Reserve
The president claims lower interest rates would save us $1 trillion annually. He’s wrong.
Jessica Riedl/September 23, 2025
President Trump has declared war on the prized independence of the Federal Reserve in an attempt to essentially run monetary policy out of the White House. He has attempted—illegally and on dubious grounds— to fire Fed Gov. Lisa Cook, threatened to fire Chairman Jerome Powell, and installed a top White House economist into a key Federal Reserve position. This White House pressure surely drove the Fed’s decision to reduce rates by 0.25 points on September 17.
Going to war against the Federal Reserve seems baseless when current interest rates—while above the anomalous 2010s levels—are not high by historical standards. Moreover, rates are not holding back the current economy, and they may even be too low to combat the recent inflation uptick. However, President Trump has offered an additional argument: Lower interest rates would reduce Washington’s interest on the national debt, “saving us $1 Trillion per year” in reduced budget deficits. This sacrificing of Federal Reserve independence to help the Treasury sell cheaper debt is known to economists as “fiscal dominance.”
Setting aside legitimate concerns over central bank independence and the illegal firing of Fed officials, would fiscal dominance really provide substantial budget deficit savings? The clear answer is no.
Trump is correct that mounting interest costs threaten to bury the federal budget. The toxic combination of soaring debt and elevating interest rates has expanded what the government spends on interest annually from $352 billion in 2021 to nearly $1 trillion today—heading toward $2 trillion within the next decade. Interest costs are the second-biggest budget item after Social Security, having recently surpassed Medicaid, defense, and Medicare spending. Within a decade, nearly 30 percent of all annual taxes paid may go toward interest on the national debt. To put that in perspective, it amounts to nearly four months of annual federal tax revenue.
Yet instead of working with Congress on a deficit reduction plan, President Trump has chosen to increase deficits further with more tax cuts, and then try to force downward the interest rate on the federal debt.
Continue/Read Original Article Here: Trump’s Attack on the Fed Won’t Fix the Deficit – Jessica Riedl – The Dispatch
#2025 #America #DonaldTrump #Education #FederalDeficit #FederalReserve #Health #History #JeromePowell #Libraries #LibraryOfCongress #LisaCook #Opinion #Politics #Resistance #Science #TaxCuts #TheDispatch #Trump #TrumpAdministration #UnitedStates #WhiteHouse
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Trump’s Attack on the Fed Won’t Fix the Deficit – Jessica Riedl – The Dispatch
Illustration by Noah Hickey/The Dispatch. (Photos via Getty Images)Trump Can’t Fix the Deficit by Attacking the Federal Reserve
The president claims lower interest rates would save us $1 trillion annually. He’s wrong.
Jessica Riedl/September 23, 2025
President Trump has declared war on the prized independence of the Federal Reserve in an attempt to essentially run monetary policy out of the White House. He has attempted—illegally and on dubious grounds— to fire Fed Gov. Lisa Cook, threatened to fire Chairman Jerome Powell, and installed a top White House economist into a key Federal Reserve position. This White House pressure surely drove the Fed’s decision to reduce rates by 0.25 points on September 17.
Going to war against the Federal Reserve seems baseless when current interest rates—while above the anomalous 2010s levels—are not high by historical standards. Moreover, rates are not holding back the current economy, and they may even be too low to combat the recent inflation uptick. However, President Trump has offered an additional argument: Lower interest rates would reduce Washington’s interest on the national debt, “saving us $1 Trillion per year” in reduced budget deficits. This sacrificing of Federal Reserve independence to help the Treasury sell cheaper debt is known to economists as “fiscal dominance.”
Setting aside legitimate concerns over central bank independence and the illegal firing of Fed officials, would fiscal dominance really provide substantial budget deficit savings? The clear answer is no.
Trump is correct that mounting interest costs threaten to bury the federal budget. The toxic combination of soaring debt and elevating interest rates has expanded what the government spends on interest annually from $352 billion in 2021 to nearly $1 trillion today—heading toward $2 trillion within the next decade. Interest costs are the second-biggest budget item after Social Security, having recently surpassed Medicaid, defense, and Medicare spending. Within a decade, nearly 30 percent of all annual taxes paid may go toward interest on the national debt. To put that in perspective, it amounts to nearly four months of annual federal tax revenue.
Yet instead of working with Congress on a deficit reduction plan, President Trump has chosen to increase deficits further with more tax cuts, and then try to force downward the interest rate on the federal debt.
Continue/Read Original Article Here: Trump’s Attack on the Fed Won’t Fix the Deficit – Jessica Riedl – The Dispatch
#2025 #America #DonaldTrump #Education #FederalDeficit #FederalReserve #Health #History #JeromePowell #Libraries #LibraryOfCongress #LisaCook #Opinion #Politics #Resistance #Science #TaxCuts #TheDispatch #Trump #TrumpAdministration #UnitedStates #WhiteHouse
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Trump’s Attack on the Fed Won’t Fix the Deficit – Jessica Riedl – The Dispatch
Illustration by Noah Hickey/The Dispatch. (Photos via Getty Images)Trump Can’t Fix the Deficit by Attacking the Federal Reserve
The president claims lower interest rates would save us $1 trillion annually. He’s wrong.
Jessica Riedl/September 23, 2025
President Trump has declared war on the prized independence of the Federal Reserve in an attempt to essentially run monetary policy out of the White House. He has attempted—illegally and on dubious grounds— to fire Fed Gov. Lisa Cook, threatened to fire Chairman Jerome Powell, and installed a top White House economist into a key Federal Reserve position. This White House pressure surely drove the Fed’s decision to reduce rates by 0.25 points on September 17.
Going to war against the Federal Reserve seems baseless when current interest rates—while above the anomalous 2010s levels—are not high by historical standards. Moreover, rates are not holding back the current economy, and they may even be too low to combat the recent inflation uptick. However, President Trump has offered an additional argument: Lower interest rates would reduce Washington’s interest on the national debt, “saving us $1 Trillion per year” in reduced budget deficits. This sacrificing of Federal Reserve independence to help the Treasury sell cheaper debt is known to economists as “fiscal dominance.”
Setting aside legitimate concerns over central bank independence and the illegal firing of Fed officials, would fiscal dominance really provide substantial budget deficit savings? The clear answer is no.
Trump is correct that mounting interest costs threaten to bury the federal budget. The toxic combination of soaring debt and elevating interest rates has expanded what the government spends on interest annually from $352 billion in 2021 to nearly $1 trillion today—heading toward $2 trillion within the next decade. Interest costs are the second-biggest budget item after Social Security, having recently surpassed Medicaid, defense, and Medicare spending. Within a decade, nearly 30 percent of all annual taxes paid may go toward interest on the national debt. To put that in perspective, it amounts to nearly four months of annual federal tax revenue.
Yet instead of working with Congress on a deficit reduction plan, President Trump has chosen to increase deficits further with more tax cuts, and then try to force downward the interest rate on the federal debt.
Continue/Read Original Article Here: Trump’s Attack on the Fed Won’t Fix the Deficit – Jessica Riedl – The Dispatch
#2025 #America #DonaldTrump #Education #FederalDeficit #FederalReserve #Health #History #JeromePowell #Libraries #LibraryOfCongress #LisaCook #Opinion #Politics #Resistance #Science #TaxCuts #TheDispatch #Trump #TrumpAdministration #UnitedStates #WhiteHouse
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Trump’s Attack on the Fed Won’t Fix the Deficit – Jessica Riedl – The Dispatch
Illustration by Noah Hickey/The Dispatch. (Photos via Getty Images)Trump Can’t Fix the Deficit by Attacking the Federal Reserve
The president claims lower interest rates would save us $1 trillion annually. He’s wrong.
Jessica Riedl/September 23, 2025
President Trump has declared war on the prized independence of the Federal Reserve in an attempt to essentially run monetary policy out of the White House. He has attempted—illegally and on dubious grounds— to fire Fed Gov. Lisa Cook, threatened to fire Chairman Jerome Powell, and installed a top White House economist into a key Federal Reserve position. This White House pressure surely drove the Fed’s decision to reduce rates by 0.25 points on September 17.
Going to war against the Federal Reserve seems baseless when current interest rates—while above the anomalous 2010s levels—are not high by historical standards. Moreover, rates are not holding back the current economy, and they may even be too low to combat the recent inflation uptick. However, President Trump has offered an additional argument: Lower interest rates would reduce Washington’s interest on the national debt, “saving us $1 Trillion per year” in reduced budget deficits. This sacrificing of Federal Reserve independence to help the Treasury sell cheaper debt is known to economists as “fiscal dominance.”
Setting aside legitimate concerns over central bank independence and the illegal firing of Fed officials, would fiscal dominance really provide substantial budget deficit savings? The clear answer is no.
Trump is correct that mounting interest costs threaten to bury the federal budget. The toxic combination of soaring debt and elevating interest rates has expanded what the government spends on interest annually from $352 billion in 2021 to nearly $1 trillion today—heading toward $2 trillion within the next decade. Interest costs are the second-biggest budget item after Social Security, having recently surpassed Medicaid, defense, and Medicare spending. Within a decade, nearly 30 percent of all annual taxes paid may go toward interest on the national debt. To put that in perspective, it amounts to nearly four months of annual federal tax revenue.
Yet instead of working with Congress on a deficit reduction plan, President Trump has chosen to increase deficits further with more tax cuts, and then try to force downward the interest rate on the federal debt.
Continue/Read Original Article Here: Trump’s Attack on the Fed Won’t Fix the Deficit – Jessica Riedl – The Dispatch
#2025 #America #DonaldTrump #Education #FederalDeficit #FederalReserve #Health #History #JeromePowell #Libraries #LibraryOfCongress #LisaCook #Opinion #Politics #Resistance #Science #TaxCuts #TheDispatch #Trump #TrumpAdministration #UnitedStates #WhiteHouse
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Government "deficit spending" is the nation-state creating money (out of thin air) and exchanging it.
The payroll tax (FICA) does not fund Social Security or Medicare. Like all other federal agencies, those agencies are funded by dollars created on purpose by the government (using laws from Congress) and placed in their accounts by the Treasury.
#FederalDeficit #fiatMoney #deficitSpending #moneyIssuance #moneyCreation #monetaryTheory #quotes #deficit #CentralBank #CentralBanks #Treasury #MMT
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Government "deficit spending" is the nation-state creating money (out of thin air) and exchanging it.
The payroll tax (FICA) does not fund Social Security or Medicare. Like all other federal agencies, those agencies are funded by dollars created on purpose by the government (using laws from Congress) and placed in their accounts by the Treasury.
#FederalDeficit #fiatMoney #deficitSpending #moneyIssuance #moneyCreation #monetaryTheory #quotes #deficit #CentralBank #CentralBanks #Treasury #MMT
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Government "deficit spending" is the nation-state creating money (out of thin air) and exchanging it.
The payroll tax (FICA) does not fund Social Security or Medicare. Like all other federal agencies, those agencies are funded by dollars created on purpose by the government (using laws from Congress) and placed in their accounts by the Treasury.
#FederalDeficit #fiatMoney #deficitSpending #moneyIssuance #moneyCreation #monetaryTheory #quotes #deficit #CentralBank #CentralBanks #Treasury #MMT
-
Government "deficit spending" is the nation-state creating money (out of thin air) and exchanging it.
The payroll tax (FICA) does not fund Social Security or Medicare. Like all other federal agencies, those agencies are funded by dollars created on purpose by the government (using laws from Congress) and placed in their accounts by the Treasury.
#FederalDeficit #fiatMoney #deficitSpending #moneyIssuance #moneyCreation #monetaryTheory #quotes #deficit #CentralBank #CentralBanks #Treasury #MMT
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Government "deficit spending" is the nation-state creating money (out of thin air) and exchanging it.
The payroll tax (FICA) does not fund Social Security or Medicare. Like all other federal agencies, those agencies are funded by dollars created on purpose by the government (using laws from Congress) and placed in their accounts by the Treasury.
#FederalDeficit #fiatMoney #deficitSpending #moneyIssuance #moneyCreation #monetaryTheory #quotes #deficit #CentralBank #CentralBanks #Treasury #MMT
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Letter to a #Senator / 8 June :: Mr. #Tillis, Have you read #DavidBier’s white paper published on the #CatoInstitute’s website? In it, he argues that the immigration enforcement provisions in #HB1 (#OBBBA) alone would add $1 trillion to the #federaldeficit. 1/7
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LoL - Where there's smoke, there's fire and we all know that for the foreseeable future the US will need to continue to buy lots of weapons to send for free to Israel :-D
"Treasury secretary Scott Bessent has insisted the US would never default on its debt as he sought to assuage Wall Street concerns over the state of the country’s public finances.
“The United States of America is never going to default, that is never going to happen,” Bessent told CBS’s Face the Nation on Sunday. “We are on the warning track and we will never hit the wall.”
Investor jitters over the size of the US federal debt have mounted as President Donald Trump has urged Congress to push through his “big beautiful” budget bill, which is expected to ratchet up the federal deficit.
Bessent dismissed concerns raised by JPMorgan Chase chief executive Jamie Dimon on Friday that the US bond market would “crack” under the weight of the country’s rising debt."
https://www.ft.com/content/9c652f09-cfca-4078-9e2b-5fdacd772a75
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LoL - Where there's smoke, there's fire and we all know that for the foreseeable future the US will need to continue to buy lots of weapons to send for free to Israel :-D
"Treasury secretary Scott Bessent has insisted the US would never default on its debt as he sought to assuage Wall Street concerns over the state of the country’s public finances.
“The United States of America is never going to default, that is never going to happen,” Bessent told CBS’s Face the Nation on Sunday. “We are on the warning track and we will never hit the wall.”
Investor jitters over the size of the US federal debt have mounted as President Donald Trump has urged Congress to push through his “big beautiful” budget bill, which is expected to ratchet up the federal deficit.
Bessent dismissed concerns raised by JPMorgan Chase chief executive Jamie Dimon on Friday that the US bond market would “crack” under the weight of the country’s rising debt."
https://www.ft.com/content/9c652f09-cfca-4078-9e2b-5fdacd772a75
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LoL - Where there's smoke, there's fire and we all know that for the foreseeable future the US will need to continue to buy lots of weapons to send for free to Israel :-D
"Treasury secretary Scott Bessent has insisted the US would never default on its debt as he sought to assuage Wall Street concerns over the state of the country’s public finances.
“The United States of America is never going to default, that is never going to happen,” Bessent told CBS’s Face the Nation on Sunday. “We are on the warning track and we will never hit the wall.”
Investor jitters over the size of the US federal debt have mounted as President Donald Trump has urged Congress to push through his “big beautiful” budget bill, which is expected to ratchet up the federal deficit.
Bessent dismissed concerns raised by JPMorgan Chase chief executive Jamie Dimon on Friday that the US bond market would “crack” under the weight of the country’s rising debt."
https://www.ft.com/content/9c652f09-cfca-4078-9e2b-5fdacd772a75
-
LoL - Where there's smoke, there's fire and we all know that for the foreseeable future the US will need to continue to buy lots of weapons to send for free to Israel :-D
"Treasury secretary Scott Bessent has insisted the US would never default on its debt as he sought to assuage Wall Street concerns over the state of the country’s public finances.
“The United States of America is never going to default, that is never going to happen,” Bessent told CBS’s Face the Nation on Sunday. “We are on the warning track and we will never hit the wall.”
Investor jitters over the size of the US federal debt have mounted as President Donald Trump has urged Congress to push through his “big beautiful” budget bill, which is expected to ratchet up the federal deficit.
Bessent dismissed concerns raised by JPMorgan Chase chief executive Jamie Dimon on Friday that the US bond market would “crack” under the weight of the country’s rising debt."
https://www.ft.com/content/9c652f09-cfca-4078-9e2b-5fdacd772a75
-
LoL - Where there's smoke, there's fire and we all know that for the foreseeable future the US will need to continue to buy lots of weapons to send for free to Israel :-D
"Treasury secretary Scott Bessent has insisted the US would never default on its debt as he sought to assuage Wall Street concerns over the state of the country’s public finances.
“The United States of America is never going to default, that is never going to happen,” Bessent told CBS’s Face the Nation on Sunday. “We are on the warning track and we will never hit the wall.”
Investor jitters over the size of the US federal debt have mounted as President Donald Trump has urged Congress to push through his “big beautiful” budget bill, which is expected to ratchet up the federal deficit.
Bessent dismissed concerns raised by JPMorgan Chase chief executive Jamie Dimon on Friday that the US bond market would “crack” under the weight of the country’s rising debt."
https://www.ft.com/content/9c652f09-cfca-4078-9e2b-5fdacd772a75
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President Donald Trump’s tax and spending bill “does not add to the deficit.” – Politifact
The East Front of the U.S. Capitol on May 19, 2025. (Louis Jacobson / PolitiFact)Karoline Leavitt said Donald Trump’s ‘big beautiful bill’ won’t add to the deficit. But it will.
As House Republicans continued their efforts to advance what President Donald Trump calls his “big, beautiful bill” of tax and spending cuts, White House Press Secretary Karoline Leavitt played down the bill’s expected federal deficit impact.
At a May 19 press briefing, a reporter asked Leavitt, “Is the president OK with this bill adding to the deficit?”
Leavitt disagreed with the question’s premise.
“This bill does not add to the deficit,” she said. “In fact, according to the Council of Economic Advisors, this bill will save $1.6 trillion. … There’s $1.6 trillion worth of savings in this bill. That’s the largest savings for any legislation that has ever passed Capitol Hill in our nation’s history.”
A deficit is the annual amount by which spending exceeds revenues; the accumulation of all past annual deficits, minus any annual surpluses, is called the federal debt.
The bill is still being negotiated, so its potential deficit impact is a moving target. However, numerous independent analyses agree that the bill is on track to add significantly to the federal deficit. That’s because the bill’s tax cuts would reduce incoming federal revenue by more than it restricts spending.
Leavitt’s “$1.6 trillion worth of savings” appears to refer only to the bill’s proposed spending cuts without factoring in the lost tax revenue that will increase the annual deficit and the federal government’s cumulative debt, experts said.
“Bottom line — because that is what matters — is that simple math of all the additions and subtractions equals nearly $3 trillion in additional debt” during the standard budget time frame of 10 years, said Steve Ellis, president of Taxpayers for Common Sense, a nonpartisan group that tracks the federal budget.
The White House did not respond to inquiries for this article.
Source Links: PolitiFact | Karoline Leavitt said Donald Trump’s ‘big beautiful bill’ won’t add to the deficit. But it will.
#2025 #America #Debt #DonaldTrump #FactCheck #FederalDeficit #History #Libraries #Politics #Politifact #Resistance #Science #Trump #TrumpAdministration #UnitedStates
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John Amato reveals a fiery exchange between Rep. Andy Barr and a CNN host, where Barr's reaction to the CBO report on Medicaid cuts resembled that of a "spoiled teenager." The report predicts a $3.8 trillion federal deficit increase, favoring the wealthy. Despite doubts from peers and the uncertain impact of tax cuts on GDP, Barr stands firm. Amato urges careful examination of the bill's far-reaching consequences for constituents. Read more: https://crooksandliars.com/2025/05/rep-barr-yells-cbo-wrong-offset-news-gop #RepublicanPolitics, #CBOReport, #HealthcareDebate, #TaxCuts, #PoliticalDebate, #FederalDeficit, #WealthInequality
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Are taxpayer savings a myth? President Trump and Elon Musk claim recent cuts from the Department of Government Efficiency save money and reduce debt. Yet, a CBO report reveals a troubling trend: federal spending rose to $605 billion in February 2025, while the deficit increased to $308 billion. This contradiction raises questions about the real impact of these cuts. Explore the full story here: https://crooksandliars.com/2025/03/wait-what-federal-spending-under-trump #GovernmentSpending #FederalDeficit #EconomicInsights
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I enjoy listening to The Weekly Show with Jon Stewart most times, but this week's, with Sadiq Khan and then an economist talking about the US deficit, was very interesting, covering a lot of topics, but about the influence of social media was especially so...
Two places to access:
https://youtu.be/FbcxKiaBNPU
or
https://open.spotify.com/episode/5gyyGZb4Ba9pTApLK46IHi#JonStewart #TheWeeklyShow #Podcast #SocialMedia #FederalDeficit
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I enjoy listening to The Weekly Show with Jon Stewart most times, but this week's, with Sadiq Khan and then an economist talking about the US deficit, was very interesting, covering a lot of topics, but about the influence of social media was especially so...
Two places to access:
https://youtu.be/FbcxKiaBNPU
or
https://open.spotify.com/episode/5gyyGZb4Ba9pTApLK46IHi#JonStewart #TheWeeklyShow #Podcast #SocialMedia #FederalDeficit
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I enjoy listening to The Weekly Show with Jon Stewart most times, but this week's, with Sadiq Khan and then an economist talking about the US deficit, was very interesting, covering a lot of topics, but about the influence of social media was especially so...
Two places to access:
https://youtu.be/FbcxKiaBNPU
or
https://open.spotify.com/episode/5gyyGZb4Ba9pTApLK46IHi#JonStewart #TheWeeklyShow #Podcast #SocialMedia #FederalDeficit
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I enjoy listening to The Weekly Show with Jon Stewart most times, but this week's, with Sadiq Khan and then an economist talking about the US deficit, was very interesting, covering a lot of topics, but about the influence of social media was especially so...
Two places to access:
https://youtu.be/FbcxKiaBNPU
or
https://open.spotify.com/episode/5gyyGZb4Ba9pTApLK46IHi#JonStewart #TheWeeklyShow #Podcast #SocialMedia #FederalDeficit
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CW: From Substack
https://open.substack.com/pub/robertreich/p/happy-tax-day
#Taxes #TrickleDownEconomicsFailure #trickledowneconomics #Economy #FederalDeficit #America #USA #Inequality #WeThePeople #Election #Vote #Budget2024 #Budget #TaxCuts #Corporate #Greed #EatTheRich #TaxDay #Politics #Substack #RobertReich #Revenue #TaxTheRich #NationalStrike #National #TaxLaw #Law #Legislation #Congress #GOP #Republicans #MiddleClass #WorkingClass #Labor #TaxRelief
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CW: From Substack
https://open.substack.com/pub/robertreich/p/happy-tax-day
#Taxes #TrickleDownEconomicsFailure #trickledowneconomics #Economy #FederalDeficit #America #USA #Inequality #WeThePeople #Election #Vote #Budget2024 #Budget #TaxCuts #Corporate #Greed #EatTheRich #TaxDay #Politics #Substack #RobertReich #Revenue #TaxTheRich #NationalStrike #National #TaxLaw #Law #Legislation #Congress #GOP #Republicans #MiddleClass #WorkingClass #Labor #TaxRelief
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CW: From Substack
https://open.substack.com/pub/robertreich/p/happy-tax-day
#Taxes #TrickleDownEconomicsFailure #trickledowneconomics #Economy #FederalDeficit #America #USA #Inequality #WeThePeople #Election #Vote #Budget2024 #Budget #TaxCuts #Corporate #Greed #EatTheRich #TaxDay #Politics #Substack #RobertReich #Revenue #TaxTheRich #NationalStrike #National #TaxLaw #Law #Legislation #Congress #GOP #Republicans #MiddleClass #WorkingClass #Labor #TaxRelief
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CW: From Substack
https://open.substack.com/pub/robertreich/p/happy-tax-day
#Taxes #TrickleDownEconomicsFailure #trickledowneconomics #Economy #FederalDeficit #America #USA #Inequality #WeThePeople #Election #Vote #Budget2024 #Budget #TaxCuts #Corporate #Greed #EatTheRich #TaxDay #Politics #Substack #RobertReich #Revenue #TaxTheRich #NationalStrike #National #TaxLaw #Law #Legislation #Congress #GOP #Republicans #MiddleClass #WorkingClass #Labor #TaxRelief
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@Wikipedia I have no idea what ‘incoming stitch’ means on #TikTok , but to follow up on the above toot let me use the #WayBackMachine to stitch together the #FederalDeficit , the ‘atomic deficit’, and #education in #chemistry at the ‘Master of the Atomic Domain’ level.
“Chemical Eye 👁️ on the Atomic Deficit” 👉 http://www.sitnews.us/MacDougall/040906_macdougall.html
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@Wikipedia I have no idea what ‘incoming stitch’ means on #TikTok , but to follow up on the above toot let me use the #WayBackMachine to stitch together the #FederalDeficit , the ‘atomic deficit’, and #education in #chemistry at the ‘Master of the Atomic Domain’ level.
“Chemical Eye 👁️ on the Atomic Deficit” 👉 http://www.sitnews.us/MacDougall/040906_macdougall.html
