03.18.2024
By Rick Manning There is an axiom of tax policy which states, “raise taxes on what you want to limit and cut taxes on what you want to encourage,” which synopsizes why some expenditures are allowed to be deducted, others get you credits, but most you […]
03.18.2024
By Robert Romano “ARE YOU BETTER OFF THAN YOU WERE FOUR YEARS AGO?” That was former President Donald Trump’s question to his supporters on Truth Social on March 18 . After locking up the Republican Party’s presidential nomination for 2024, now the American people are looking towards the general election where Trump will square off against incumbent […]
03.12.2024
By Robert Romano Consumer inflation ticked up 0.4 percent in February to an annual rate of 3.2 percent amid a jump in oil, gasoline, natural gas, transportation and shelter according to the latest data by the Bureau of Labor Statistics . Gasoline was up 3.8 percent. Fuel oil was up 1.1 percent. Natural gas was up 2.3 percent. […]
03.08.2024
By Robert Romano Don’t look now, but U.S. labor markets appear to be churning in the wrong direction, as the unemployment rate jumped to 3.9 percent in February , and the unemployment level hit a new high for this cycle at almost 6.5 million, up 760,000 from its low this cycle of 5.7 million in Dec. 2022, according […]
03.05.2024
By Rick Manning Joe Biden’s inflation has caused a banking crisis, which came to a head last year with the collapse of Silicon Valley Bank and Signature due to the near tripling of interest rates on new bonds, which destroyed the value of the low-interest bonds in […]
02.07.2024
By Robert Romano Since 1963 through 2022, the percent growth of revenues has averaged 6.9 percent a year to its present level of $4.65 trillion, according to data compiled by the White House Office of Management and Budget . In the meantime, mandatory spending including net interest owed on the national debt has grown an average 8.87 percent a year to its current […]
01.30.2024
By Robert Romano The consumer price index has increased a total of 17.6 percent since President Joe Biden took office, according to the latest data from the Bureau of Labor Statistics . In the meantime, nominal personal income measured by the Bureau of Economic Analysis has only increased by 15 percent since Feb. 2021. By that measure alone, the American people are still not better […]
01.19.2024
By Rick Manning We need a debt commission like the one U.S. Rep. Victoria Spartz (R-Ind.) is offering in the Debt Commission Act of 2024 . America is in a debt death spiral, with OMB projecting the national debt to rise to $50 trillion by 2033 , and it is unclear whether Congress will ever have the political will to do something about it. One […]
01.12.2024
By Robert Romano Consumer prices experienced a 0.3 percent increase in the December amid jumps in electricity, shelter and medical care services, growing at 3.4 percent rate over 12 months, according to the latest data from the Bureau of Labor Statistics, while producer prices cooled off for the third month in […]
01.11.2024
By Robert Romano Legislation offered by Sen. Rand Paul (R-Ky.), the “Federal Reserve Transparency Act of 2024,” would conduct an audit of the U.S. Federal Reserve by the Government Accountability Office (GAO) for the first time since the Dodd-Frank legislation of 2010 required an audit of the central bank’s purchases of mortgage-backed securities. […]