budgetdeficit
Presidential nominee Donald Trump delivered the longest acceptance speech in recent history on Thursday night at the Republican National Convention (RNC). But nowhere in that 90-minute address did Trump find time to call for eliminating or abolishing a single, specific government program. He talked about raising tariffs and cutting taxes, aired grievances and attacked immigrants, but gave no thought to shrinking the size or scope of government. If Trump wanted to convince libertarians to vote for him—something he has explicitly tried to do during this campaign—then Thursday night's speech was ...
Reason
The Biden administration's expensive efforts at beefing up the IRS' ability to target wealthier Americans with unpaid federal taxes have finally netted $1 billion in additional revenue. Or, to put it another way, the yearlong campaign has generated enough cash to fund the federal government for…about 90 minutes. Do the math. The United States spent about $6.1 trillion last year%202023,)%2C%20resulting%20in%20a%20deficit.). That translates to roughly $16.7 billion per day or about $700 million per hour. Against the federal government's insatiable appetite for spending, even unfathomably large f...
Reason
There's a weird little bus stop at the corner of 18th and K streets in Washington, D.C. On the inside, a ticker tallies the national debt in real time, the glowing numbers whizzing by too quickly for the naked eye. On the outside, there's a printed poster with a round number for the total debt: $34 trillion at press time. I've lived in D.C. long enough to remember when changing that poster was a special occasion. But lately I've been checking regularly on my commute, since the trillions are racking up more quickly than they used to. The ink is barely dry on the current poster, yet the folks at...
Reason
Many Americans are unhappy about years of higher-than-normal inflation that have sapped buying power and reduced standards of living. Now, the Congressional Budget Office (CBO) demonstrates that a difficult culprit will make you feel poorer over the next few decades: The nearly $35 trillion (and growing) national debt. At its current trajectory, the rising national debt—and the increasing burden of making interest payments on it—will reduce Americans' future income growth by 12 percent over the next 30 years, the CBO projects in a new report. That means the average person will earn about $5,00...
Reason
President Joe Biden released a budget proposal to cut the federal government’s deficit by nearly $3 trillion over ten years. The administration previously set a $2 trillion deficit reduction target. The proposal seeks to raise taxes on high-income earners – families earning over $400,000 annually. He also proposed an increased tax on corporate profits. The proposal does not include cuts to spending for programs like Medicare, Medicaid or Social Security. “It proposes tax reforms to ensure the wealthy and large corporations pay their fair share while cutting wasteful spending on special interes...
uPolitics.com
The upcoming Union Budget of India (2022-23) is expected to focus on bringing in economic reforms to ease supply-side bottlenecks, provide production-linked incentive (PLI) schemes to domestic MSME’s* sector, asset monetization and privatization. Along with this, the government needs to strike a balance between fiscal expenditure and fiscal consolidation. Against this backdrop, GlobalData, a leading data and analytics company, expects the budget deficit to narrow down to 5.3% of GDP in 2022 compared to 5.6% in 2021. Q4 2021 hedge fund letters, conferences and more With the expected higher tax ...
ValueWalk
Vltava Fund’s letter to shareholders for the fourth quarter ended December 2020,discussing the three types of inflation being: monetary inflation, asset price inflation, and consumer price inflation. Q3 2020 hedge fund letters, conferences and more In the course of our December webinar, we touched upon the subject of inflation. Based upon your questions during the webinar and in the following days, I got the impression that this is an issue frequently causing you concern. Because I lose a bit of a sleep over this from time to time, the theme for this Letter to Shareholders presented itself. Th...
ValueWalk
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