Hello everybody and thank you for tuning into the weekly report.

Will the Fed lose control?

According to new reports from the Social Security and Medicare Trustees,

Social Security and a Medicare fund that pays for hospital expenses

will both begin running deficits in 2035 and 2036.

Disappointed but not surprisingly,

Congress was two preoccupied spending billions of dollars

more on military aid for foreign countries and banning

Tik-Tok to pay attention to the looming bankruptcy

of the two largest federal entitlement programs.

Many in Congress, no doubt, believe they can ignore the impending

bankruptcy of Social Security and Medicare,

because they can count on the Federal Reserve to do the dirty work of cutting real benefits and raising taxes.

This result can be produced via the hidden and regressive inflation tax.

The Federal Reserve makes the debt finance welfare warfare state possible by monetizing

the Federal debt.

This is one reason why, even though interest on the debt

is now the third largest item in the federal budget

behind Social Security and Medicare and ahead of military spending,

there are so few in Congress serious about cutting welfare or warfare.

Those few who seek real spending cuts in welfare

are smeared as heartless,

...