NATO allies agree to 5 percent defense spending goal
NATO allies agree to 5 percent defense spending goal
https://www.politico.eu/article/nato-allies-defense-spending-goal-spain-gdp/
Tag: spending
The ‘Big Beautiful Bill’ Will Add $2.4 Trillion to the Deficit
“In March, President Donald Trump stood before a joint session of Congress and vowed to “do what has not been done in 24 years: balance the federal budget.”
The first major legislative package of Trump’s second term, however, will throw the federal budget farther out of balance, the Congressional Budget Office (CBO) concluded in an updated assessment of the bill.
The CBO estimates that the One Big Beautiful Bill Act, which cleared the House late last month and is awaiting a vote in the Senate, will increase deficits by $2.4 trillion over the next 10 years. The bill will reduce tax collections by an estimated $3.75 trillion over that period, while reducing government spending by an estimated $1.3 trillion.”
https://reason.com/2025/06/04/the-big-beautiful-bill-will-add-2-4-trillion-to-the-deficit/
The 5 Worst Green Energy Projects Funded by Biden
The 5 Worst Green Energy Projects Funded by Biden
https://reason.com/2025/06/06/the-5-worst-green-energy-projects-funded-by-biden
Denmark to drop ‘frugal’ stance on EU budget to counter threat from Russia
“Denmark’s Prime Minister Mette Frederiksen said Tuesday she is ready to abandon her country’s traditionally thrifty stance on the EU budget in the face of the threat posed by Russia.
…
“For me, the most important thing is to rearm Europe,” Frederiksen said. “That’s my starting point and that’s my conclusion in all discussions, because if Europe is not able to protect ourselves and to defend ourselves, then it’s game over at some point.”
Europe, she added, is “running out of time because of Russia’s behavior” and needs “a new profile on the budget.””
https://www.politico.eu/article/denmark-to-drop-frugal-stance-on-eu-budget-says-pm-frederiksen/
USA Dollar Crash Continues
U.S. debt is becoming more expensive because interest rates on U.S. debt are going up. The U.S. has to pay more to maintain the debt. Trump’s trade wars, and his continuation and growing of U.S. deficits, are causing this. Trump’s erratic tariff behavior causes uncertainty and discourages investment.
https://www.youtube.com/watch?v=MZc8cTnUIXo
Trump’s Big Budget Bomb (Part 1) | The Ezra Klein Show
Trump’s and the Republican House’s Big Beautiful Bill is a massive debt exploder while also cutting aid to low income Americans.
The Tea Party was a huge movement supposedly driven by debt and deficit. Where is the Tea Party!?
https://www.youtube.com/watch?v=IAF8vJQeMmQ
America’s Credit Is Falling—and the Government Is Still Digging Deeper Into Debt
“the mess is real, and it’s because habitual deficit financing—the very disease fiscally-minded Founding Father Alexander Hamilton warned against—has become business as usual.
The reckoning comes as House Republicans push to extend the 2017 Trump tax cuts with a “big, beautiful bill.” If handled correctly, it’s a good idea. But while the legislation aims to avoid tax hikes, it pairs modestly pro-growth provisions with a smorgasbord of costly special interest giveaways. Worse, it assumes we can afford yet another $3 trillion to $5 trillion in debt without serious consequences. That’s the kind of magical thinking that spurred the credit downgrade.”
https://reason.com/2025/05/22/americas-credit-is-falling-and-the-government-is-still-digging-deeper-into-debt/
Why has Elon Musk disappeared from the spotlight?
“DOGE’s aggressive cost-cutting efforts, led by a staff Musk brought in, are expected to continue even after he formally leaves his role as a special government employee. Both Republicans and Democrats also widely expect the tech billionaire, who poured $290 million of his own money into the 2024 elections, to continue to be a major political player.”
https://www.politico.com/news/2025/05/19/elon-musk-disappears-trump-world-00355313
Stop Subsidizing the ‘Sport of Kings’
“There are federal tax benefits for racehorses (although there’s a chance they might soon expire) and some states exempt racehorses from their sales taxes. Other states own the racetracks.”
…
“”The obvious solution here is also the simplest: Just stop,” Shachtman wrote. “Let the sport stand on its own and dwindle to whatever size its fan base supports. Instead, state legislatures keep funneling money to it.””
https://reason.com/2025/04/29/stop-subsidizing-the-sport-of-kings/
Why everyone is wrong about the economy | Jason Furman | The Reason Interview with Nick Gillespie
Biden ran as a relative moderate, but governed more to the left, creating inefficient policy and contributing to inflation.
Large and growing government debt reduces economic growth because that means the government is borrowing more money, which drives up interest rates, which drives down business investments and homebuilding. When borrowing from foreigners, you have to give some of your economic growth to them to repay them.
https://www.youtube.com/watch?v=KogDw5ZRcl0