Tag Archives: Deficits

Chicago Levies PlayStation Tax To Pay For Bankrupt Municipal Pension System And Massive Deficits – Confounded Interest

Chicago IL (should be ILL) is the poster child for an insane pension program (mostly to municipal workers and public school teachers). But not only in the city of Chicago, but the state of ILLinois as well. Consider that the unfunded liability in the state’s combined retirement systems has risen in 11 of the state’s past 12 years—despite a roaring ...

Read More »

Deficits Do Matter: Debt Interest Payments Will Consume Trillions Of Dollars In Coming Years

The government is running deficits during a ‘booming’ economy. Growth in interest payments outpaces all other spending growth. Here’s why it matters… by Ryan McMaken via Mises Wire Interest on the national debt is quickly becoming one of the largest expenses in the national budget. Based on projections from the OMB, it now appears that growth in interest payments on ...

Read More »

True Economics: 31/7/18: 65 years of profligacy and few more yet to come: U.S. Government Deficits

The history and the future of the U.S. Federal Government deficits in one chart: Which shows, amongst other things, that The post-2000 regime of deficits has shifted to a completely new trend of massively accelerating excessive spending relative to receipts; The legacy of the Global Financial Crisis and the Great Recession far exceeds traditional cyclical increases in deficits; The more ...

Read More »