Spending

2021's Deficit Spending Is Already Out Of Control. Here's Why That's A Problem

Authored by Ryan McMaken via The Mises Institute, This morning, President Trump apparently threatened to veto the so-called stimulus legislation recently approved by Congress. The legislation features approximately $908 billion worth of spending including $600 stimulus checks for many millions of Americans who qualify. The stimulus spending is part of a much larger spending package which totals…

A Very COVID Christmas: Visualizing The Pandemic’s Impact On Festive Spending

By Tyler Durden From mass job losses to not seeing family and friends for months on end, the COVID-19 pandemic has pushed people to their limits in 2020. As an incredibly difficult year draws to a close, Visual Capitalist’s Katie Jones notes that people are starting to accept that this festive season will be anything…

A Very COVID Christmas: Visualizing The Pandemic's Impact On Festive Spending

From mass job losses to not seeing family and friends for months on end, the COVID-19 pandemic has pushed people to their limits in 2020. As an incredibly difficult year draws to a close, Visual Capitalist’s Katie Jones notes that people are starting to accept that this festive season will be anything but typical. But…

Preparing For War? Greece Increases Military Spending 57% Amid Row With Turkey

Via AlMasdarNews.com, Greece has increased military spending by 57% to 5.5 billion euros, amid increased tension with Turkey in the eastern Mediterranean, a new report has revealed. To strengthen their forces, Greece intends to complete the purchase of 18 French-made Rafale fighters, and to acquire new frigates, helicopters and drones. Greece also intends to modernize…

LA Is Spending $130,000 Per "Tiny Home" To Shelter Its Homeless

When, last week, we wrote about 56% of Americans stating they would be OK living in a “tiny home”, this isn’t what we had in mind. But apparently, in L.A., being homeless has its perks. What better way for California to help get its budget crisis under control than to pay for minimalist structures, known as…

Pritzker’s $711 Million Spending Cuts For Illinois Are A “Sideshow”

Authored by Mark Glennon via Wirepoints.org, Gov. JB Pritzker on Tuesday ordered state spending cuts totaling $711 million for the current fiscal year as a “first step” to address the year’s budget hole. Here’s where those cuts will be made: For some perspective, the total is about 1.7% of the budget. Do not expect the…

What Spending Slowdown: BofA Credit, Debt Cards Show Soaring Retail Sales

Ahead of Wednesday’s retail sales report, and in light of the recent sharp slowdown in the labor market and lack of progress on the stimulus front, most pundits expect a disappointing retail sales performance for the month of November, when retail sales are expected to drop by -0.3%, their first contraction since the April covid…

Online Spending Hits Record On Cyber Monday

Submitted by Market Crumbs, Earlier this week we wrote about online shopping being the big winner of this year’s Black Friday. Online spending on Black Friday jumped by 21.6% to a record $9 billion, according to data from Adobe Analytics, which analyzed transactions from 80 of the top 100 U.S. online retailers. The total makes…

Britain Announces Massive Military Spending Boost, Biggest Since 1991

Authored by Mary Clark via The Epoch Times, Britain has announced an extra £24.1 billion ($31.8 billion) in military spending, as part of the country’s biggest investment in defence since the cold war that ended 30 years ago in 1991. The spending will be over the next four years, Prime Minister Boris Johnson told the House of Commons on Thursday. This…