Tag: debt collapse

Guest Post by Ron Paul

Congress’ top priority this fall will be passing legislation funding the government and avoiding a “shutdown.” As of this writing, it appears unlikely that the Republican-controlled House will be able to make a deal with President Biden and the Senate Democrats on a long-term spending bill. Instead, they will likely pass a short-term funding bill to give themselves more time to reach agreement on a longer-term bill.

Any bipartisan agreement is unlikely to reduce government spending or begin to pay down, or stop the growth of, the over $32 trillion national debt, which the Congressional Budget Office projects will grow by at least $115 trillion over the next thirty years. Instead, Congress and the administration will continue to pretend they are addressing the spending problem by “reducing in the projected rate of spending growth,” and other gimmicks.

Continue reading “Growing US Debt Menaces Liberty and Prosperity”

“So we may not be that far away from the next bubble bursting, and I could imagine, if I think about policy, what we just talked about, with the end of a recovery cycle, we’ve pumped $4 trillion in this country, $30 trillion globally, into the economy with monetary policy. So that’s tapped out.

We are now using fiscal policy to overheat a late-stage recovery in order to keep the Republicans in office. We are doing nothing to bolster underlying growth with educational reform, infrastructure reform, et cetera.”

Rana Foroohar, The Rich Have an Escape Plan

“I think it’s important in the power of finance and how pervasive this is throughout the economy, this has very little to do with Republicans and Democrats. In fact, some of the key opening doors for finance happened in the Clinton administration.”

Paul Jay, Clinton’s Committee To Save the World Unleashes Wall Street

Continue reading “QUOTES OF THE DAY”