Category Archives: economics

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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The Supremes 2026

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The Supreme Court wrapped up its 2025-2026 term with a flood of high-profile decisions announced on June 26, 29, and 30th. The usual end of the session reviews quickly flooded the media. Most watchers of the Supremes tried to frame the session as a win or loss for Donald Trump. Or at least a win or loss for the conservation majority which has dominated the Court in recent years.

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Up, Up, and Away

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Space X Launch

I have not held back on my feelings for Elon Musk. But his persona and his work for the Trump administration notwithstanding, I will concede that he is the greatest marketer since P. T. Barnum. Barnum was a 19th century showman, self-made entrepreneur, and co-founder of the Barnum & Bailey Circus. He is often credited for coining the phrase, “There’s a sucker born every minute” although there is no evidence that he actually said it. Elon Mush might have been able to sell shares in his company, SpaceX (Ticker: SPCX), to Barnum. He did manage to sell shares to millions of retail investors.

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Inflation!

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Grocery prices

Go ahead. Tell me the higher prices we see staring back at us every day at the grocery store and the gas pump are just a temporary thing. I dare you.

The latest inflation report shows that price pressures heated up again in May, with the Consumer Price Index rising 0.5% month‑over‑month and 4.2% year‑over‑year, the highest annual rate since April 2023. That 4.2% figure matched economists’ expectations, but it still marks a clear acceleration from April’s 3.8% pace. The monthly increase was driven heavily by energy costs, which jumped 3.9% in May and are up 23.5% over the past year, reflecting the ongoing impact of the Iran conflict on global oil markets. Gasoline alone surged 7% in May and more than 40% compared with a year ago, accounting for the majority of the overall CPI increase.

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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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13 Hours and $240 Later

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Did you file your tax return? Are you getting a refund or do you owe money? Did you fill out the form yourself? Did you use tax software? Did you hire an accountant?

Each year we spend an average of $240 to prepare and file our annual tax returns, according to the IRS Taxpayer Advocate Service. We spend on average thirteen hours filling out the forms. People in other countries think we’re nuts.

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Let’s See…..

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Let’s see if I have this straight.

Donald Trump set a deadline of 8pm April 7 for Iran to stop attacking ships passing through the Strait of Hormuz. Over the Easter weekend, Trump posted an obscene threat to Iran promising Iranians will be “living in hell” if they do not comply by the deadline. On the morning of April 7, Trump posted another threat, promising, “A whole civilization will die tonight, never to be brought back again.”

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