The Congressional Budget Office has recently reported that the Federal deficit for the fiscal year 2005 will be $317 billion, which is much lower than in 2004 [when the deficit was $413 billion]. The administration was quick to argue that the improvement is vindication for the President’s fiscal policy, especially the tax cuts. This is […]

The latest inflation numbers are out [for September, you can read about it here] and they make for grim reading: the highest increase for 25 years. The problem stems from energy which saw price rises of 12%. So why isn’t there panic on Wall St.? Because they focus on what they call ‘core inflation’ which […]

Well the President’s panel on tax reform [find it here] has finally shown its hand. The news is not so good for those among us who own homes. At long last someone in Washington has taken aim at one of the countries biggest tax giveaways: mortgage interest relief a.k.a. middle class welfare. The U.S. is […]