Silver: Americans Buy It & Why The Government Hates Them For It

On a recent fall evening millions of Americans hunkered down to relax and turned the television on.
Continue reading →

The Federal Reserve Has Killed the Bank CD

image

This blogging site is not a fan of the Federal Reserve. The money printing that has gone on f

Continue reading →

U.S. Government Hits Debt Limit on March 16th

government

United States Government spends so much money these days that the debt is reaching its ceiling again. Do not expect Republicans put much of a fight up in stopping any raises as they usually join Democrats in governments spending addiction.

Via CNBC

Unless Congress takes action, the U.S. will hit its debt limit on Mar. 16, but would begin taking “extraordinary measures” to finance the government on a temporary basis, according to the U.S. Treasury.
In a Friday morning letter to House Speaker John Boehner and other House and Senate leaders, Treasury Secretary Jack Lew said that his office will be forced to suspend the issuance of State and Local Government Series securities on Mar. 13 unless the debt limit is raised.

“Accordingly, I respectfully ask Congress to raise the debt limit as soon as possible,” Lew wrote in his letter.

The Congressional Budget Office said this week that if Congress does not raise the federal debt limit, the Treasury Department will exhaust all of its borrowing capacity and run out of cash in October or November, slightly later than a previous forecast.

Federal Government Spending For the Next 10 Years

Economics 21 had an interesting graph in their article titled “How to Fix the $960 Billion Budget Deficit”.

Here is how federal government spending will be broken up the next ten years.

image

Almost two-thirds of additional spending will be driven by entitlements, primarily Social Security, Medicaid, and Medicare. America’s aging population is the primary contributor to the growth of Social Security and Medicare, while the Affordable Care Act substantially expanded the scope of Medicaid.

Adding interest payments to the budget brings the total increase in the debt from mandatory spending to 85 percent. Spending is projected to grow by $2.3 trillion annually by 2024.