CBO: Student Loan Forgiveness will Cost $400B Over Next 30 Years


Armstrong Economics Blog/Politics Re-Posted Sep 30, 2022 by Martin Armstrong

The Congressional Budget Office (CBO) is a nonpartisan agency that simply calculates the numbers. The Biden Administration is constantly at odds with the CBO as they repeatedly point out why handouts are never free. Biden’s pre-midterm bribe to cancel student debt will come with a huge price tag — $400 billion.

Borrowers earning under $125,000 annually will receive a $10,000 debt cancelation, while Pell Grant recipients will see a $20,000 reduction. Everyone else will receive a bill in the form of taxes, and even those with loans forgiven will suffer. The CBO calculated the cost of the plan, which will cost $20 billion from September to December 2022 alone. The Biden Administration initially said that the plan would cost $240 billion over the next ten years. Yet, the CBO estimates that the cost of loan cancellation will continue for the next three decades for a total of $400 billion.

Yes, this will cause America’s deficit to rise. Instead of working to lower tuition costs or predatory student lending practices, Biden simply passed along the bill to the taxpayers and pretended the money owed simply vanished. Colleges can simply raise their fees with no repercussions. Glass Stegall has not been reinstated, and those facing bankruptcy cannot erase their student debt.

Glass Stegall was repealed under the Clintons, and even the Clintons’ top financial advisor, Larry Summers, is against Biden’s student loan forgiveness program. “It consumes resources that could be better used helping those who did not, for whatever reason, have the chance to attend college. It will also tend to be inflationary by raising tuitions,” Summers wrote on his Twitter in August. This is simply a gimmick to buy voters who do not understand the repercussions.

Who Bombed The Pipeline? (Ep. 1861) – The Dan Bongino Show


The Dan Bongino Show Published originally on Rumble on September 28, 2022

The most likely Bomber is Joe Biden, in my opinion Centinel2012

Interview: The World According to Martin Armstrong


Armstrong Economics Blog/Armstrong in the Media Re-Posted Sep 29, 2022 by Martin Armstrong

Click here to listen to my latest interview with Kerry Lutz from the Financial Survival Network.

Commentary from Kerry:

The world is a mess and things aren’t getting better. There’s no end in site to the Ukraine war and the situation in Europe keeps getting worse and worse. We sit down with Martin Armstrong to get the latest update. He sees gold going much higher in Q1 2023. The loss of faith in all governments keeps increasing. China is a lost cause as well. But the US is a beneficiary of everyone else’s misery. That’s just the way the world works.

Martin sees a major backlash coming in the aftermath of the 2022 mid-term elections. His model is questioning whether or not the 2024 presidential election will even take place. What could possibly happen to stop it and does it matter anyway? This is a must listen to interview.

NATO Preparing for World War


Armstrong Economics Blog/War Re-Posted Sep 29, 2022 by Martin Armstrong

I know for a fact that the US military is deploying some reservists to Romania to train European soldiers. The reservists have been told that the war will escalate, and as a soldier told me, “things are getting really bad over there.” They will be training the Europeans to fight against Russians for at least six months. NATO is constructing a battlefield in Romania for this extensive training. The Cincu military training facility already exists but is undergoing a massive expansion.

This is precisely what Russia feared long before entering Ukraine. I reported that Russia knows it is fighting the West and not simply Ukraine. NATO has increased its presence around Eastern Europe this year and has no plans to de-escalate the situation. There are over 40,000 troops on the ground across Eastern Europe, and more are set to arrive. In fact, NATO will establish four additional “multinational battle groups” in Hungary, Romania, Slovakia, and Bulgaria.

Colonel Vincent Minguet, the commander of the NATO Combat Group in Romania, said the plan is for “the creation of a permanent, stronger battalion, with more heavy weapons, to prevent any aggression or any destabilization in Romania.” Alarmingly, Minguet believes that training will last for four or five years. They are planning for a long-term ongoing battle fought among numerous nations, aka a world war.

Tucker Carlson Discusses Nord Stream Pipeline Sabotage, Almost Certainly a U.S. Covert Action Against Russia


Posted originally on the conservative tree house September 27, 2022 | Sundance 

Tucker Carlson accurately outlined the most likely suspect of the sabotage against Russia’s Nord Stream I and II pipeline today.  When you consider the media blitz by Joe Biden’s National Security Advisor, Jake Sullivan, last weekend (ABC, CNN, NBC and CBS); specifically pointing out the U.S. position against Russia; it is almost a certainty that U.S. action was behind the underwater detonation of explosives to take out Nord Stream pipeline system.  WATCH:

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Confused Biden Conflates Wage Growth with Inflation, Claims Inflation is Having Less Money in Your Paycheck


Posted originally on the conservative tree house on September 26, 2022 | sundance 

Many people believe the people who are in charge of the economic policies destroying the middle-class have no idea how the Main Street economy actually works.  I disagree, I believe they know exactly what they are doing and why they are doing it.

From one perspective, inflation is a statistic that comes from a bureaucratic system quantifying prices.  They have no concept of how policy-driven price increases hurt consumers or working-class families.  Everything in their sphere is academic and esoteric.

However, that said, those who have designed policy know there are benefits to inflation, like lowering economic activity that supports their lowered energy production policies. Inflation also helps them pay their way out of the spending they create that drives the inflation. Make money worth less and debt is lessened, or so the theory is told.

Joe Biden made remarks today that “inflation” as he looks at it, is defined as the amount of money in a paycheck.  WATCH:

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Economic Policy Experts

Do You Feel Safe in America?


Armstrong Economics Blog/Politics Re-Posted Sep 26, 2022 by Martin Armstrong

Crime has been rampant across America over the last two years. The economic downturn hurt low-income communities the most, and some are turning to crime for quick money. The borders are open, and anyone can enter America from the south. Laws have been repealed to permit an assortment of crimes, sweetheart deals for violent offenders are common, and nearly every city has reported a sharp uptick in crime under the Biden Administration.

The Trafalgar Group conducted a study to ask Americans if they feel safe in the land of the free. An alarming 67.9% reported that they no longer feel safe in America compared to two years ago under the Trump Administration. Even 44.9% of Democrats admitted that they no longer feel safe, while 86.8% of Republicans cited fears.

Murders increased by 6% in 2021 across the nation but spiked 30% from 2019 to 2020. New Orleans, Louisiana, surpassed St. Louis as the murder capital of America with 52 homicides per 100,000 residents. Overall crime in New York City rose 37% this year alone – grand larceny is up 49%, auto theft rose 46.2%, robberies are up 39.2%, and assaults increased 18.6%. Crime in Chicago makes NYC look like Disneyland. Murders in Chicago are 5X higher than NYC and 2.5X higher than LA. Crime in Lightfoot’s Chicago rose 37% from 2021, and the police cannot do anything to help due to the law. Carjackings occur every five hours in that city. Homicides in Philadelphia reached a record high of 562 in 2021 and are on track to surpass that level in 2022. The full data for 2022 is not available, but crime is up everywhere you look.

Our Supreme Court cannot define “women,” but violence against the XX community is atrocious. One in five American women has been the victim of a rape or attempted rape. Around 43.6% of American women will experience sexual violence, and these figures are notoriously underreported.

I hope the 67.9% of Americans who no longer feel safe remember that when voting this November. The Democrats want to focus on guns, mainly taking them away from law-abiding citizens afraid of the rise in crime. There is no plan under the Biden Administration to curtail your chances of becoming a crime victim.