In CBO’s projections, growing deficits drive up debt over the next decade, as spending rises and revenues remain relatively flat as a share of the economy… If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.

The Congressional Budget Office released it annual report on Monday.  It reports an increase of deficit spending this year of about $15 billion ($544 billion total) and projects continues increases in deficit spending.  Of course these deficits have an effect on federal debt.  In 2008, the national debt was 39.3% of the GDP.  Since then it has grown to 73.6% of the GDP and should reach 75.6% this year.  The CBO estimates it will climb to 86% in 2026.

You can read the full CBO report here.

The National Review has gathered a collection of commentaries by various conservative thinkers who oppose Donald Trump’s nomination for President.  Included are thoughts by Thomas Sowell, William Kristol, Ed Meese, Cal Thomas and Glenn Beck, among others.  You can read the commentaries here.

As a counterpoint, here is the speech transcript of former governor and vice presidential candidate Sarah Palin who endorsed Donald Trump’s candidacy this week.  (Ignore the snarky title given by BuzzFeed News.)

 

 

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According to Intelligence Community Inspector General I. Charles McCullough III, a review of Secretary of State Hillary Clinton’s private e-mail server revealed top secret intelligence and several messages classified as “Special Access Programs,” the highest classification (beyond “top secret.”)  This would be a potential violation of USC 18 Section 793 in the handling of secure information under the Espionage Act.  A copy of the IG report is available here.

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Today Speaker Paul Ryan outlined the House Issues Agenda for 2016.  Some of the items are to be expected: national security, jobs, healthcare.  But two of the items are largely due to Speaker Ryan’s leadership.  The Speaker wants Congress to address the causes of poverty and ways to advance upward mobility for the 46 million American poor.  Ryan also calls for a restoration of constitutional liberties and the separation of powers guaranteed by the Constitution.  You can read more here.

Nonsequitur: Walmart Layoffs

January 15, 2016

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Walmart has announced it will close 269 stores, 154 in the US.  The closures will affect about 16,000 workers, 10,000 in the US.  More information here.