We thought last month’s US budget deficit was bad. Boy, were we wrong.
It is only fitting that the twilight days of the Biden admin would exhibit more of the same fakeness that defined not only all of the past four years, but certainly the fakeness of that Kamala Harris presidential campaign which had a billion dollars a month ago and ended up in failure, broke… and millions in debt. We are talking, of course, about the relentless debt-funded spree that somehow became synonymous with economic success in the US.
According to the latest Treasury data released today, in November – the second month of fiscal 2025 – the US spent a massive $584.2 billion, a 14% increase from the prior year, and a record for the month of November. For those who remember out outrage from a month ago, will also remember that the latest deficit number follows what was also a record government outlay for the month of October.
And they said the Clintons were sore losers.
The Canadian numbers will look similar, although less by an order of magnitude due to population. The economy is in freefall, so revenues are part of the problem, more acute in Canada, where more of our revenue is from the VAT. It takes income taxes and corporate taxes longer to fall as they lag due to filing periods. Hang onto what you have, it is going to get rougher.
Idiot analysts continue to say that Social Security and Medicare are politically untouchable, and there is no savings available there. That moronic conclusion is apparently driven by a belief that there is no fraud in either of those payment systems. Then there’s Medicare for illegal aliens…
Did James O’Keefe recently drop an undercover video where an EPA employee admitted that they were handing out $Billions of taxpayer money with no oversight to Environmental Groups and Climate Organizations before Trump gets into office?
I went shopping at my local Safeway late last week after not shopping for the last two weeks while I was in LA celebrating Thanksgiving with my family. I was SHOCKED by the inflated prices when I returned home! In two weeks the prices had spiked 5-10% across the board on top of the 20-30% over the Biden years.
So … this ridiculous runaway inflation is wholly manufactured by the Socialists who are looting our capitalist societies.