Category Archives: Business

That Damn Debt

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The official U.S. total public debt outstanding breached $40 trillion for the first time in history. It stands at $40,047,426,000,000 according to data released by the U.S. Department of the Treasury. It has increased by about three trillion dollars since January 20, 2025, when the current administration took office.

Considering how much he likes to brag about setting records you’d think Donnie Trump would be in front of the cameras proclaiming, “Biggest debt in history! No one has ever seen a debt as big as this. America is first! We’re winning.”

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Economic Conundrum

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The May Employment Situation Report released by the Bureau of Labor Statistics (BLS) handily beat expectations, with the U.S. economy adding 172,000 nonfarm payroll jobs. Economists had forecasted a much more modest gain of roughly 80,000 to 85,000 jobs, making this a significant upside surprise.

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Funerals at CBS

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There are two funerals on tap this week at CBS, Inc., the company where I spent the first decade of my professional career. When I joined it in 1974, it had recently changed its name from the Columbia Broadcasting System to better reflect its position as a major media company, not just a broadcaster. Its four core lines of business were Broadcasting (TV and radio), Records (music), Publishing (books and magazines), and Musical Instruments/Toys.

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Ted Turner 1938-2026

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Some people are visionaries. Some people are great leaders. Few people can do both at the same time. Ted Turner was one of those special people.

In the wake of his death on May 6 at the age of 87, much has been written about his brash in-your-face style. I never met or worked for him. But I have many friends and colleagues who did. To a person, they sing his praises as a tough but fair leader. That he was a visionary is clear when you consider his impact on media in general and journalism in particular.

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RFK, Jr., Hazard to Our Health

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Someday someone will produce a study that will try to quantify how many people died as a result of Robert F. Kennedy, Jr.‘s war on vaccines, medicine and science. Tens of thousands? Millions? It is hard to predict.

Donald Trump, implementing the Project 2025 plan to destroy the federal government, has appointed the worst possible people to run the executive agencies. It is hard to select the most deplorable of the deplorables. But RFK, Jr. is certainly in the top group.

Kennedy is a former heroin addict who as a youth was expelled from two schools, dumped a dead bear in Central Park, has no medical or science degree, and was labeled a “predator” by his own family. He made a career out of being an anti-vaxxer, spreading false information about vaccines. In return for his political support in 2024, Trump named Kennedy Secretary of Health and Human Services. At his own confirmation hearing Kennedy himself stated that Trump had “offered him control of the public health agencies,” including HHS, CDC, FDA, NIH, and USDA.

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The Trump Recession

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The Trump Recession is upon us. Not officially, that could take months. But the handwriting is on the wall. Just as clear as it was one year ago when every creditable economist warned Donald Trump’s plans for trade tariffs and government layoffs would knock the Goldilocks economy of Joe Biden off its feet. Seventy-seven million voters didn’t believe it. Or didn’t care. Now they can care. Or not. It’s hard to tell.

The latest GDP report shows that the U.S. economy contracted by 0.3% in the first quarter of 2025, marking a sharp downturn from the 2.4% growth in the final quarter of 2024. This decline was largely driven by a surge in imports ahead of Trump’s newly announced tariffs, which widened the trade deficit and negatively impacted GDP calculations.

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Trump on California, Burn

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This is what our once and future president wrote this morning about the tragic fires in the Los Angeles area which have, as of this writing, taken two lives, forced tens of thousands out of their homes, and caused millions of dollars’ worth of property damage.

How can anyone be such a monster? And how could we have elected him once again?

Newsom‘s office has dismissed these claims as “pure fiction” and accused Trump of playing politics. The governor has focused on ensuring that firefighters have the resources they need to combat the fires.

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