The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Washington DC, looks like we have a debt deal. The compromise announced late Saturday includes a two-year budget deal that would essentially hold spending flat for 2024, while boosting it for defense and veterans, and capping increases at 1% for 2025. That’s alongside raising the debt limit for two years, pushing the volatile political issue past the next presidential election.
the staff of the Ridgewood blog
Ridgewood NJ, according to Quantitative Easing Janet Yellen ,and her media supporters , the sky is falling and there’s one month left for Republicans to relent on their refusal to raise the debt limit (so the US can pay its existing bills) unless the White House meets their demands (future cuts that will likely slash climate, education and social funding). Now, it turns out there may only be seven days left. President Joe Biden invited top congressional leaders for a meeting on the matter, but fear in markets has been rising for some time now, with yields on Treasury bills for early June soaring. Democrats are already looking at some radical options to keep the world’s largest economy from defaulting.
Continue reading Debt Ceiling: Secretary Yellen Says the Sky is Falling
the staff of the Ridgewood blog
Washington DC, The latest monthly report from Congressional Budget Office (CBO) is filled with grim numbers.
Continue reading House Republicans Pass Fiscal Reform and Debt-ceiling