by Martin Armstrong, Armstrong Economics:
According to the Treasury Department, America’s deficit surpassed the $1 trillion mark this February. The deficit reached $307 billion for the month, marking a 2.5X increase on a monthly basis and 3.7% higher on an annual basis.
The deficit for the first five months of FY25 hit $1.15 trillion, a $318 billion increase (+38%) from the same period last year. America is paying $74 billion simply to finance this debt, with interest payments over the FY rising to $396 billion.
The deficit under the last three years of Biden-Harris grew from $1.38 trillion to $1.83 trillion as the public sector and government spending multiplied. Trump is attempting to make a dent in government spending through DOGE, but he is hitting America’s revenue with these tariffs. Both measures have only just begun and have not made a major impact on the economy yet.
One of the most damaging costs of the imposition of “diversity, equity, and inclusion” across Western universities has been the outright exclusion, suppression, and demonization of research and open debate about the racial character and cultural greatness of the West. For decades now, academics have been reducing the rise of the West to the creation of colonial empires, the extraction of gold and silver from the Americas, the “genocide” of Amerindians, the African slave trade, the malevolent use of modern weapons against a supposedly peaceful Asian world, and the cultivation of “white supremacist” notions against non-Caucasians.
