Silver as an investment

Category Archives: Congressional Budget Office

SHTFplan: John Bolton: National Debt Is An ‘Economic Threat’ To The US

Prepare yourself. Buy physical silver and storable food. In an incredibly obvious statement, National Security Advisor John Bolton has declared the high level of national debt an “economic threat” to the United States. Unless you have been living under a rock for the past ten years, you know that statement is not only true but obvious. Bolton […]

These 8 Republican Senators Have Serious Reservations About Tax Reform

As we’ve repeatedly pointed out, Mitch McConnell’s push to force tax reform through the senate is facing opposition from several disparate groups of senators, each of which is demanding its own set of changes. Concerns primarily center on the taxation of partnerships, limited liabilities and other companies; on the overall cost of the tax bill […]

Trump Drafting Executive Order To Kill Obamacare’s Individual Mandate, Report

After having previously cut so-called “cost reduction subsidies” (see: Trump To Scrap Crucial Obamacare Insurer Subsidy) and the marketing budget for Obamacare, Trump is now reportedly ready to also repeal the legislation’s controversial “individual mandate” which taxes people who choose to forego health insurance. According to the Washington Examiner an executive order has already been […]

“You May Be Hopping Mad When You Finish Reading This”

Submitted by John Mauldin of Mauldin Economics Uncle Sam’s Unfunded Promises Here’s a surprisingly profound question: What is a promise? Dictionaries offer various definitions. I like this one: “An express assurance on which expectation is to be based.” That definition captures the two-sided nature of a promise. One party offers an assurance, which the other […]

House GOP Unveils 2018 Budget: Here Are The Highlights

On Tuesday morning, House Republicans released a fiscal 2018 budget plan that will pose the next major political test for President Donald Trump’s legislative agenda by combining tax reform with controversial spending cuts. While unlikely, the spending plan, which covers the fiscal year beginning Oct. 1, aims to move the government from a $472 billion […]

White House Reveals Budget Deficit Will Be $250 Billion Greater Due To “Mistake”

On Thursday, we first discussed that in its latest monthly budget report for the month of June, the US Treasury reported a massive outlier that has largely been ignored by the general press: in June total US government spending hit $429 billion, the biggest one-month outlay on record, and 33% higher than the $323 billion […]

Illinois Budget: What It Does And Doesn’t Do (Surprise Giveaway To Muni Bondholders?)

Authored by Mike Shedlock via MishTalk.com, Illinois now has a budget, the first in three fiscal years. An excellent writeup on The Stump entitled Illinois Financial Disaster: Even More Reactions to the Budget explains what passage of the budget does and does not do. Here are some links mentioned by The Stump and a few additional […]

Fed Chair Janet Yellen Warns Congress: US Debt Trajectory Is Unsustainable

During her tesimony this morning, Fed Chair Janet Yellen urged Congress to take into account the growth trajectory of the federal debt when making decisions about spending and taxation. She said lawmakers need to work toward achieving "sustainability of this debt path over time," … "Let me state in the strongest possible terms that I […]

What Trump Told Yellen In The Oval Office (Next To Gary Cohn)

In an otherwise quiet morning as we await Jeff Sessions’ testimony, a WSJ article is making the rounds which recounts the interactions between Trump and Janet Yellen – who it turns out were born two months apart in neighboring boroughs of New York City – according to which despite Donald Trump’s fierce criticisms of the […]

Stockman Fears Fiscal Bloodbath As “Mother Of All Debt Ceiling Crises” Looms

Authored by David Stockman via The Daily Reckoning, While the Imperial City is frozen in the Second Coming of Comey, it doesn’t mean that the Washington spending machine is on pause. In fact, the Treasury’s cash balance yesterday stood at only $153 billion — down by $130 billion just since the tax season peak was […]