Tag Archives: Hornberger’s Blog

Given that the debt-ceiling debate is likely to continue for a few months, examining the Constitution provides us with the reasons our nation has been plunged into this monetary morass.  Federal officials have now run up the federal government’s debt to more than $31.5 trillion. That’s a lot of money. And it’s also a lot of interest payments.  Too much debt is not a good thing, either for a family or a government. Even the big-spending members of Congress...

Given the U.S. government’s increasing financial difficulties, we can expect extremely vicious behavior on the part of federal officials to bring money into the regime. What U.S. officials are currently doing to Russian billionaires provides a clue as to what they are likely to do Americans as the federal government’s financial situation worsens. The federal government is spending more than $1 trillion per year than it is bringing in with taxes. That means...

In response to the U.S. government’s weaponization of the dollar through such measures as sanctions and trade wars, China, along with Russia and other nations, are making efforts to dethrone the dollar as the world’s international reserve currency. For example, Russia and China are now using the Chinese yuan, rather than the dollar, for payment for Russian oil. Saudi Arabia is now talking about doing the same thing.  One of the interesting aspects of this process...

Immigration-control advocates are ecstatic over President Biden’s visit to El Paso. Maybe — just maybe — Biden’s trip will be what finally — finally! — brings victory in the decades-long U.S. war on immigrants. Except that it won’t. The hope of the immigration-control advocates will be dashed once again. The decades-old immigration crisis, along with the deaths, suffering, and police state that come with it, will go on, notwithstanding Biden’s trip to the border....

Yesterday, Ukrainian President Volodymyr Zelensky appeared before a joint session of Congress to plead for more billions of dollars of U.S. taxpayer money to help Ukraine in its war with Russia.  One particular sentence in Zelensky’s address caught my attention: “We Ukrainians will also go through our war of independence and freedom with dignity and success.” The sentence prompted an enormous applause from the members of Congress. There is one big problem...

As expected, the Federal Reserve raised interest rates by half a point yesterday. It was a drop from the .75 point rate increases that the Fed has been implementing for the past several months.  A big reason the Fed is going slower is the longstanding fear among Fed officials of bringing about another Great Depression by raising interest rates too high and too fast. That’s, of course, what happened in the late 1920s, when the Fed’s actions brought about the 1929...

The mainstream media is celebrating big time over a recent ruling by the Supreme Court that forces the Treasury Department to deliver President Trump’s income-tax returns to Congress. A good example is the Washington Post, which published an editorial last week praising the ruling. Since there is still the possibility that Congress will fail to disclose Trump’s ( tax returns to the public, the Post is calling on Congress and the states to enact laws that force...

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One of the interesting aspects of President Biden’s Inflation Reduction Act was the allocation of $80 billion in increased funding for the Internal Revenue Service, one of the most powerful and tyrannical agencies in U.S. history. The money is intended to be used for enhanced tax enforcement, especially through the potential hiring of 87,000 new IRS agents who, to borrow a phrase from the Declaration of Independence, will be further eating out the substance of the...

I fully realize that when it comes to Ukraine, one is supposed to focus exclusively on Russia’s invasion and not on what the Pentagon did to gin up the crisis, a crisis that has gotten us perilously close to a world-destroying nuclear war with Russia.  Nonetheless, the Pentagon’s role in this crisis needs to be emphasized, over and over again, just as the Pentagon’s role in ginning up the Cuban Missile Crisis also needs to be emphasized, over and over again. Yes,...