Senate leaders unveiled a new $1.7 trillion year-long federal government funding bill early Tuesday morning. The legislation includes $772.5 billion for non-defense discretionary programs and $858 billion in defense funding (a 9.7% increase), according to the bill’s summary. The bill also gave military members a 4.6% pay raise. It also includes several major Medicaid provisions. The sweeping 4,000+ page… Continue Reading
Category Archives: Political & Geopolitical
Mid-Term Election Thoughts & Why Inflation Is So High
Today’s discussion will focus on why inflation is at a 40-year high. There’s a very good reason, but I’m not sure many Americans understand it. But before we get into that discussion, I have some observations on the results of the midterm elections, although some of the final vote counts are not yet in. While… Continue Reading
Why Inflation Is Not Going Away Anytime Soon
When the Consumer Price Index jumped briefly above 9% earlier this year, Americans were told the higher inflation would be “transitory.” Regular readers may recall I disagreed with this forecast at the time and warned that inflation jumps of that magnitude are often entrenched and very hard to bring down. While the CPI has since… Continue Reading
President Biden Plans To Double The IRS – Why?
President Joe Biden is proposing to double the size of the IRS by hiring nearly 87,000 new employees over the next decade, as part of a sweeping plan to chase down tax cheats. The hiring spree, part of a bid to increase IRS funding by $80 billion, would be phased in to give the department… Continue Reading
IRS On Path To Get Much Larger & More Aggressive
President Biden wants to make the Internal Revenue Service much larger and be more aggressive in going after the purported $600 billion to $1 trillion in income taxes which are said not to be paid each year. He pledged this on the campaign trail and recently got his wish with the passage of the Inflation… Continue Reading