From drastically underestimating the cost to blaming Republicans for hypocrisy, the White House is flailing.
Joe Biden is being awfully “generous” with your money. His student loan “forgiveness” scheme is the biggest news of the week (maybe the summer), and we’ve covered it here and here. Today we want to focus on two things: Cost and hypocrisy.
Before full details were known, the Penn Wharton Budget Model estimated the cost of Biden’s plan to be “between $300 billion and $980 billion over the 10-year budget window.” Then Biden increased the giveaway to $20,000 for many recipients, which will of course increase the cost.
For the most part, White House officials have gone out of their way to avoid answering the question of cost. “Well, that that remains to be determined, and it will be a function of what percentage of eligible borrowers actually take up this opportunity,” said domestic policy adviser Susan Rice. “If 43 million borrowers take it up, that’ll be different than if 50% of those 43 million take it up.” (Continue reading…)
Some say he’s doing this to buy their votes. At the same time, Congress is questioning the expensive bailout. They are supposed to control the purse strings, not the so-called President. Still, the Democrat-controlled Congress may go along because they are also looking for a spark going into the midterms.
It has been an interesting Sunday for me. Some weeks ago the following was sent to me by its author. It was written by him some years ago – 2017, but unbeknownst to me, I was about to meet him – this morning – for breakfast. The interesting thing was, when we made arrangements to meet – I did not know who I was about to meet for breakfast – other than the fact that he was a listener to my daily broadcast, “
…there’s a CHANGE a’ comin’ Don’t need no baggage – ya’ just get on board – and it is FINALLY happenin’!
If you are convinced that the economy is already in a recession or hurtling toward one, the housing starts data for July provided more evidence to support your conviction. New housing construction decreased to a seasonally adjusted annualized rate of 1.446 million. This was 9.6 below the June estimate of 1.599 million and 8.1 percent below the year-earlier level. Economists had forecast 1.54 million.
Is Gold in a bubble? This is the one question that has been discussed in every financial website since quite a while now. Commentators have taken opposing views, calling tops or prognosticating further upside for the yellow metal. But who has, if anyone, answered accurately the initial question of whether Gold is in a bubble? To understand that, we must first define what a bubble is!
The typical U.S. household headed by a person aged 65 or older has a net worth 47 times greater than a household headed by someone under 35, according to an analysis of census data released Monday.
The Latest No Good, Really Rotten Inflation Report
The FED Quietly Hands Out $250 Million in Interest Payments PER DAY to Nameless Beneficiaries
A Surprising Benefit To Owning Gold, Especially Now
‘I’m out millions of dollars’
Abolish The Government AND Banking System
US Postal Service rate increases took effect Sunday
The one and ONLY answer to the debt problem is to declare it null and void because of FRAUD. It is fraud because it is mathematically impossible to repay. It can not be repaid because the interest is never created on the loan and that is fraud and fraud voids all. If we don’t void all out of thin air debt the bankers will own almost EVERYTHING… and we will be homeless slaves!
