Tuesday , March 26 2019
Home / Tag Archives: Federal debt

Tag Archives: Federal debt

Treasury Department Ups January-March Borrowing Estimate Another $8 Billion

The government shutdown apparently didn’t save Uncle Sam any money. The US Treasury Department said it will borrow about $8 billion more than originally estimated in the first quarter of 2019 as deficits continue to spiral upward.According to new Treasury Department projections, the US government will issue $365 billion through credit markets in the January-March quarter. This stacks on top of the $426 billion borrowed through credit markets in the October-December quarter.A senior...

Read More »

US Government Posts Another Big Deficit in October

The federal government ended up fiscal 2018 with the largest budget deficit since 2012. Based on the most recent US Treasury Department projections, that doesn’t look to slow down in fiscal 2019. Spending didn’t taper off any in October. According to the Treasury Department report, the deficit came in at $100.5 billion last month. That represents a 58% increase from the $63 billion deficit recorded in October 2017. Spending rose 18% year-on-year. Revenues only increased by 7%.Uncle Sam...

Read More »

The Federal Debt Spiral

Death-spiral — The downward, corkscrew-motion of a disabled aircraft which is unrecoverably headed for a crash.The US federal government may well be in a death spiral  – or perhaps we should call it a debt-spiral. I was looking back over the posts for this week and noticed something significant. The headline for our second post on Oct. 3 reads, “Federal Government Runs Up Sixth-Largest Single-Year Debt Increase in US History” On Oct 4, the very next post, the headline reads, US Treasury...

Read More »

Federal Government Runs Up Sixth-Largest Single-Year Debt Increase in US History

Sept. 30 marked the end of the federal government’s 2018 budget year. According to data released by the US Treasury Department, the federal debt grew by nearly $1.3 trillion in fiscal 2018 – $1,271,158,167,126.72 to be exact. It was the sixth-largest fiscal-year debt increase in the history of the United States.So much for that Republican Party fiscal responsibility.The total federal debt currently stands at $21.5 trillion.For the eighth time in the last 11 years, the federal debt has...

Read More »

Federal Debt Spiral: SchiffGold Friday Gold Wrap 09.14.18

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.The swamp is more expensive than ever!The U.S. government set a monthly spending record in August. The Treasury also borrowed more money than any August in history. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about this debt spiral. He also touches on a global movement to...

Read More »

Debt as Far as the Eye Can See

While mainstream pundits and talking heads cluck about great jobs number and amazing economic growth, by and large, they completely ignore the fact that the entire economy is built on giant piles of debt.In our Friday Gold Wrap podcast last week, Mike Maharrey talked about the fact that the economy is drowning in debt, focusing on ever-increasing consumer debt and government debt. He didn’t even get into corporate debt.So, just how much debt is really out there? The following bullet points...

Read More »

The Federal Budget Mess Is Even Worse than Reported

The federal government is borrowing money at levels one would expect to see during a major economic crisis. According to the Congressional Budget Office, the federal deficit for the fiscal year 2018 will come in at around $804 billion. That is expected to balloon to around $985 billion in fiscal 2019.Does that seem pretty bad to you? Well, it’s even worse than you think.If you look at the increase in the federal debt, you’ll find that it is bigger than the deficit. How can this be? The...

Read More »

During “Boom” the US Government Is Borrowing Money Like We’re in a Recession

The economy is booming – or so we’re told. But the federal government is borrowing money like we’re in the midst of a deep recession.Long-term US debt sales have risen to a level not seen since the height of the Great Recession. Meanwhile, the Treasury Department announced the creation of a new benchmark short-term 2-month Treasury bill.All of this is in an effort to cover a rapidly upward-spiraling national debt even as some of the big players in the bond market sit on the sidelines. The...

Read More »

Cost of Servicing US Debt Hits Decade High

After Pres Trump signed a bill raising the debt ceiling last fall, we warned that rising interest rates could crush the US federal budget under interest payments. Well, interest rates are going up and so is the cost of servicing the US government’s $21-plus trillion debt.The yield on the 10-year US Treasury crept closer to 3% Monday, rising 8 basis points to 2.965% after reports that other central banks could be set to join the Federal Reserve in pulling back from easy-money policies....

Read More »

Three Reasons Gold Will Rise from Its Slumber

The price of gold has languished in recent weeks. After falling below $1,300 in May, the yellow metal has hit 2018 lows this month. Dollar strength along with the anticipation of further Federal Reserve rate hikes have bolstered the dollar and weighed on gold.Peter Schiff has been saying this dollar strength is merely an upward correction in a bear market. Peter’s not alone in this view. Some mainstream analysts have even acknowledged the dollar surge is likely temporary.So what about the...

Read More »