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2024-02-06
Donald Trump has won the Iowa caucuses and the New Hampshire primary and is leading in the polls to become the Republican candidate for the presidency in the upcoming general election. His status as the most likely contender to challenge Joe Biden is upsetting establishment figures who think that Trump’s ascent threatens democracy. Trump is constantly pilloried by the mainstream media as a demagogue who emboldens the racist underbelly of American society. Emotions run rampant, but Trump’s villainy has been grossly exaggerated.
After winning the presidency in 2016, pundits thought that Trump would revert America to an era of racism. These predictions swayed many even though they failed to materialize. Donald Trump did not govern as a racist but rather pandered to racial minorities and
2024-02-03
To prevent public debt from soaring in the wake of the global financial crisis in 2009, Germany has enshrined a “debt brake” in its constitution. The debt brake sets strict limits on federal public debt levels and restrains government borrowing. This fiscal rule has served its purpose, and public debt has been on a downward path, dropping by about 15 percentage points of gross domestic product (GDP) since its introduction. Yet the government suspended it during the pandemic and raised an extra €370 billion of debt in 2020 and 2021. It also tried to circumvent this rule on several occasions by setting up off-balance sheet funds, such as a €100 billion special fund for military spending during the war in Ukraine.
In 2022, the German parliament decided to shift about €60 billion from the
2023-11-09
Imagine that you are a healthy 30-year-old young man who has a respectable job, makes a good living, but decides, you know what? I am not going to spend $200 or $300 a month for health insurance because I am healthy, I do not need it. But something terrible happens, suddenly you fall into a coma and need it.
Who is going to pay for your coverage? In a society where you accept welfarism and socialism to be the answer, you would expect the government to take care of you. Well, that is exactly how the federal health care system works in that those choices are made for you in the first place through the individual mandate.
Adjusted for inflation, total national health expenditures have risen from $409.6 billion to $4.2551 trillion over the 51-year span of 1970 to 2021. That is almost a 1000%
2023-11-07
We’re about six weeks into fiscal year 2024, but if this year looks anything like last year, we can assume the federal government will continue to pile up debt at astonishing rates.
According to the September Monthly Treasury report, the US government accumulated an additional 1.7 trillion dollars in debt for the 2023 fiscal year, which ended October 31. That’ up by $319 billion, or 23 percent, from the 2022 fiscal year. As recently as June, budget-watchers had estimated the year-end deficit would be $1.5 trillion, but deficits quickly added on an unexpected $200 billion by years’ end:
The pace of increase, however, may have been even higher than 23 percent. As CNN noted, the $1.7 trillion number may reflect some creative accounting. As CNN reports, the Treasury Department reported the
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