FEDERAL DEBT CRISIS

Previous posts have stated that this Substack series is devoted to two topics. These two topics are closely related and listed below. After about ten posts on the fiscal matter, the focus shifted in mid-August to the second topic, Congress. However, this post is about Debt Ceilings, a fiscal matter, and one very much on everyone’s minds these days. It also happens to fit very well into the Congress’s-activities topic. The unsustainable federal fiscal policies, and Congress’s

Acme Media Group, NYC, October 24, 2029 The Treasury Department held a regular sale today of debt instruments to raise funds for activities of the federal government.  However, very few buyers showed up, and those demanded 12% to loan money to the U.S. government!  This is the disaster many have predicted – the trigger to coming woes.  The President has declared an emergency and called for a Joint Session of Congress tomorrow.  First on the agenda is the collapsed market for

Summary – The Relentless Federal Debt Growth Preface This post is the last of seven posts on The Relentless Federal Debt Growth.  Next will be a series on the causes of Congress’s reluctance to solve our country’s big problems and what is needed.   Most retired folks with a great family and a happy life might question why I spend some money and lots of time being part of tackling such huge problems.  The answer is simple.  I believe that excessive federal debt and an ineffect

The Time Bomb is Ticking More Loudly Preface   One sees and hears almost constantly in the media these days about the severity and urgency of our ever-growing federal debt.  See the June 17 post on Severity.   The word Plan  in this article’s title is defined as a detailed blueprint produced by a Congressional Commission to be enacted by Congress to meet the objective below.   The Plan  is all-inclusive, and its objective includes “…a balanced and fair plan that will put our

Quick answer to WHO? No doubt you have heard that Congress was granted “The Power of the Purse”.  Among other powers, the constitution says Congress has comprehensive fiscal powers:   ·      All legislative Powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives ( Spending  is done by legislating.)   ·      Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts… ( Income )  

Successful people, organizations, and governments know that the first step in analyzing and solving a complex predicament is to articulate the Problem and the Objective accurately. PROBLEM The current status of U.S. federal fiscal affairs and the processes that abetted it are in dangerous disarray and require prompt and enduring reform. OBJECTIVE Analyze all relevant aspects of the U.S. federal deficits and growing debt, produce a balanced and fair plan that will put our coun

Comprehending the Severity Prelude I have little doubt that most Americans are struggling with the question “Just how serious is the federal debt – present and future – to me, my family, and my country?” It is easy to understand how the breadth and time horizons of this topic make it complex. The purpose of this and coming Substack articles is to present a balanced and factual discussion of the severity of the federal fiscal situation now and in the years ahead so readers wil

NY Harbor from Brooklyn Heights This Substack post was not on the schedule. It is being published today and will not interfere with the continuation of the federal debt series of about ten articles. Please spend eight minutes on this video by the WSJ. It does an amazing job of providing an overview of the federal fiscal crisis. Use the link below. https://www.wsj.com/video/series/news-explainers/when-does-the-national-debt-become-genuinely-bad/EDACA508-4D17-48F0-84C5-51B2ABD5

The Relentless Federal Debt Growth is Perilous Problem Statement The federal debt has grown dramatically since the Great Recession of 2008, reached harmful levels, requires a comprehensive and sustainable array of solutions, but still is not receiving serious attention from our government. Objective For the Congress and Executive Branch to elevate the creation and implementation of responsible and permanent fiscal policies to the highest priority. Definitions Federal Debt  is