Stated differently, back in the day, we struggled to keep total federal spending during 1981 under $700 billion. By contrast, the Donald has borrowed nearly 4X that in the last 90 days!"David Stockman On What Could Happen If The Fed Loses Control." By Tyler Durden, ZeroHedge, 6/27/20.So, yes, perhaps Trump’s one truthful boast is that he is indeed the king of debt.
Needless to say, there is nothing remotely rational, plausible or sustainable about an FY 2020 budget that’s going to end up with revenue south of $3 trillion and spending north of $7 trillion.
That’s not even banana republic league profligacy; it’s just sheer stupidity and madness, bespeaking a bipartisan duopoly in Washington that has had its collective brains turned into sawdust by the relentless, egregious money pumping of the central banks.
A blog about Islamic intolerance and fanaticism; socialism; communism; government stupidity; and lying weasels everywhere, hopefully couched in vibrant and literate English and foreign words that make us look good.
June 28, 2020
David Stockman on the "bipartisan duopoly."
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