The political relevance of Chicago is that of an insane asylum. Continue reading →
An unfortunate milestone happened today in American history.
President Obama stated during his Tuesday night State of the Union Address to the nation, the good times are back for America. This is his last SOTU address to the nation as his term is up later this year. During his oration of his list of achievements Continue reading →
The federal government is great at spending money. Currently it spends
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.
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.