Political News & Social Views

Tag: Inflation

Joe Biden’s Weak Defenses

The press is covering Mr. Biden’s $842 billion Pentagon budget, it is to note the number is large. Yet defense spending at 3% of the economy is low by historical standards. The Pentagon says the proposal is a 0.8% real increase over fiscal 2023, but that is based on an inflation fantasy.

Here’s Why the Economy Seems Weird

Understanding inflation, interest rates and recession risks requires going back earlier than the 2000s.
Here are three ways this cycle is different from the recent past.

Inflation rose 6.4% in January

Annually prices remain above 6% but are down sharply from the 9.1% surge in June, which marked the highest inflation rate in almost 41 years.

Biden ‘Forgives’ Massive Amount of Student-Loan Debt, Transferring Cost to Public

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Joe Biden Illegally ‘Canceling’ Student Loans Would Be a Middle Finger to America
Biden Must Reap the Whirlwind If He ‘Cancels’ Student-Loan Debt
Canceling Student Debt Would Undo Reconciliation Bill’s Deficit Reduction
The total estimated cost for Biden’s one-time cancellation is $300 billion, according to a study released Tuesday by the Wharton School of business at the University of Pennsylvania.