Category Archives: Federal deficit

How much interest is there in our massive and growing federal debt?

It’s not the sort of thing most Americans pay attention to, and if asked to do a close examination of it their minds would probably numb and eyes glaze over into a bored crust. But the colossal amount of federal debt this nation has accumulated, and the financial energy the interest payments on that debtContinue Reading

Update to Federal Budget Outlook

The Congressional Budget Office (CBO) released an update to the budget and economic outlook for 2014-2024. According to the report: The federal budget deficit has fallen sharply during the past few years, and it is on a path to decline further this year and next year. However, later in the coming decade, if current lawsContinue Reading

Barron’s editorial page editor examines entitlements’ unsustainable future

Thomas Donlan of Barron’s peruses the latest data on the future of America’s costly entitlement programs. You never know when Social Security and Medicare trustees will issue their annual report on the financial health of the system. Between March and August. And you never know how much of it to take seriously, either. The reportsContinue Reading

Barron’s ‘Economic Beat’ columnist tries his hand at the Krugman takedown game

Is there any new ground to be broken in tearing Paul Krugman‘s arguments apart? Gene Epstein tries in his latest “Economic Beat” column for Barron’s. Last week, I reported that the Congressional Budget Office’s recently released “2014 Long-Term Budget Outlook” warned “the fiscal ship of state is in danger of hitting an iceberg” (“New WarningContinue Reading

The national dilemma of debt

Former Houston mayor and former U.S. deputy energy secretary Bill White explores in a Barron’s column the disconnect between the federal government’s revenue stream and its spending commitments. The permanent hole in the federal-funds budget has become more obvious since the end of U.S. combat in Iraq and the reduction of most recession-related programs. AccordingContinue Reading

Barron’s ‘Economic Beat’ columnist highlights warning about growing U.S. debt

Gene Epstein of Barron’s devotes his latest “Economic Beat” column to analysis of the nonpartisan Congressional Budget Office’s latest long-term budget outlook. Federal debt held by the public as a share of nominal gross domestic product, currently 74%, is projected to rise over the next 10 years. But it won’t be until the mid-2020s thatContinue Reading

The changing nature of public debt

The latest print edition of National Review devotes 6 1/2 pages (roughly 13 percent of the issue) to Christopher DeMuth’s fascinating exploration of disturbing changes in public debt. While the entire article is worth reading, of particular note is DeMuth’s description of the changing justification for government decisions to assume new debt. As debt andContinue Reading

Don’t think the federal government has a spending problem? Consider this new data

For those who’ve yet to be convinced of the federal government’s overspending problem, perhaps some numbers and a chart might help, courtesy of CNS News. Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed June at anContinue Reading