Budget Deficit Tops $1 Trillion for First Time
The federal deficit has topped $1 trillion for the first time ever and could grow to nearly $2 trillion by this fall, intensifying fears about higher interest rates, inflation and the strength of the dollar.
The deficit has been widened by the huge sum the government has spent to ease the recession, combined with a sharp decline in tax revenues. The cost of wars in Iraq and Afghanistan also is a major factor.
Bank of Wyoming Is the 53rd FDIC-Insured Institution to Fail in the Nation This Year
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $27 million. Central Bank & Trust’s acquisition of all the deposits was the “least costly” resolution for the FDIC’s DIF compared to alternatives. Bank of Wyoming is the 53rd FDIC-insured institution to fail in the nation this year, and the first in Wyoming.
Why Obamacare Can’t Work: The Calculation Argument
Unfortunately, since Obama uses faulty logic to diagnose the problem, his solutions will only make matters worse faster. The correct framework within which to diagnose the problem is to admit that costs are out of control because they do not reflect prices created by the voluntary exchange between patients and providers, between customers and producers, like every well-functioning industry.
Instead, health costs reflect the distortions that government regulators have introduced through reimbursement mechanisms created by command-and-control bureaucracies at federal and state levels.
Related posts from the Fed Up Blog:
Doug Eberhardt
Doug Eberhardt was a financial advisor for over 20 years. He left the business in 2005 because he didn’t agree with the mainstream advice the financial services industry was trying to pass on to investors. After subsequently working for one of the largest gold dealers in the United States, Doug is now helping investors with his unique insights into how to buy gold and silver the safe way through this blog and his forthcoming book "Buy Gold and Silver Safely." Follow "Buy Gold and Silver Safely" on facebook by clicking here. If you would like to buy gold or silver bullion coins or bars, call 888-604-6534 to speak to a representative.
