Tag: media

The Treasury just declared the U.S. insolvent. The media missed it

The U.S. government is insolvent. That’s not hyperbole — it’s the conclusion drawn directly from the Treasury Department’s own consolidated financial statements for fiscal year 2025, released last week to near-total media silence. The numbers: $6.06 trillion in total assets against $47.78 trillion in total liabilities as of September 30, 2025.

Importantly, the $47.78 trillion in reported liabilities does not include the unfunded obligations of social insurance programs like Social Security and Medicare — those are disclosed separately in the off-balance-sheet Statement of Social Insurance (SOSI).

The government’s consolidated balance sheet position, excluding the SOSI, deteriorated by nearly $2.07 trillion between FY 2024 and FY 2025, reaching a staggering negative $41.72 trillion. Total liabilities are now nearly eight times the value of reported assets. The largest drivers were a $2 trillion increase in federal debt and interest payable (now $30.33 trillion) and a $438.8 billion increase in federal employee and veteran benefits payable (now $15.47 trillion).

The Off-Balance-Sheet Iceberg

The off-balance-sheet picture is even more alarming. The 75-year unfunded social insurance obligation surged by $10.1 trillion in a single year, rising from $78.3 trillion in FY 2024 to $88.4 trillion in FY 2025 — driven primarily by a $6.9 trillion jump in projected Medicare Part B shortfalls and a $2.5 trillion increase for Social Security. The Treasury’s Statement of Long-Term Fiscal Projections shows the 75-year fiscal gap widening from 4.3% of GDP in FY 2024 to 4.7% in FY 2025.

If the $88.4 trillion in 75-year off-balance-sheet obligations were added to the $47.8 trillion in official balance sheet liabilities, total federal obligations would now exceed $136.2 trillion — roughly five times U.S. annual GDP.

The Government Accountability Office (GAO) issued a disclaimer of opinion on the U.S. government’s FY 2025 financial statements — the 29th consecutive year it has been unable to determine whether the statements are fairly presented. This is primarily due to serious, ongoing financial management problems at the Department of Defense and weaknesses in accounting for interagency transactions.

What $136 Trillion Looks Like in Your Living Room

Not only has the financial press ignored the consolidated financial statements, but most members of Congress and members of the general public will not read the consolidated financial statements. Documents like the consolidated financial statements are not the kind of thing you want to read before driving. If that’s not bad enough, most people cannot relate to the trillion-dollar numbers in the financial statements. Therefore, it is appropriate to translate them into terms that people will understand.

Most people cannot relate to trillion-dollar figures on a government ledger. So consider this: divide every number by 100 million — drop eight zeros — and federal finances look like a household budget in freefall.

That household earns $52,446 and spends $73,378 — running a $20,932 annual deficit. Its total liabilities and unfunded promises amount to $1,361,788 against just $60,554 in assets, leaving it $1.3 million in the hole. Uncle Sam, by any accounting standard, is insolvent.

Congress has clearly lost control of the nation’s finances. America is facing a fiscal catastrophe. The reckoning, long deferred, is becoming impossible to ignore.

Keep reading

Did Iran launch missiles at US-UK base on Diego Garcia? Here’s what to know

The United Kingdom has slammed “reckless Iranian threats” after missiles targeted a joint United States-UK military base located on the Indian Ocean island of Diego Garcia.

However, Iran’s Ministry of Foreign Affairs on Monday denied the allegations that it was behind the launch of what US media reports said were two ballistic missiles.

The US has not commented officially on the firing of the missiles at Diego Garcia, which is approximately 4,000km (2,500 miles) from Iran.

The incident over the weekend came three weeks into the war launched by the US and Israel against Iran on February 28. One of the goals of the war, they have said, is to degrade Iran’s nuclear and missile programmes.

Tehran has maintained its nuclear programme is for civilian purposes. The United Nations nuclear watchdog and US intelligence chief Tulsi Gabbard have said Iran was not on the verge of making nuclear bombs. Contrary assertions were invoked to launch the current war.

Keep reading

Google Gets Caught Red-Handed Pushing Left-Wing Agenda, Silencing Conservative News

Commentator Britt Hughes is raising concerns about what she describes as a lack of ideological balance on Google News, pointing to a February analysis that examined the platform’s top morning stories.

Hughes compared the findings to earlier criticism of another major platform before turning to Google’s results.

“Do you remember when I told you that Apple News had gone three straight months without featuring a single article from a conservative news outlet in its top stories?” Hughes said.

She then shifted to Google’s performance during the same type of review period.

“Well now they can hold Google’s beer,” Hughes said.

Keep reading

MSNOW’s Rachel Maddow Eulogizes Robert Mueller by Doubling Down and Insisting That RussiaGate Was Real 

Rachel Maddow, the queen of the Russia collusion hoax, was brought onto MSNOW tonight to react to the death of former FBI director Robert Mueller, who led the pointless investigation that came up with nothing.

According to Maddow, Mueller confirmed her anti-Trump conspiracy theories. She actually doubled down on the hoax during the segment. Maddow made a fortune pushing this lie to her audience and yet she has never been forced to apologize or faced consequences of any kind.

She even suggests that Mueller’s findings were shut down by then attorney general Bill Barr, who she claims outmaneuvered Mueller politically.

Mediaite has details:

Maddow joined The Weekend: Primetime on Saturday to share her thoughts on Mueller, hours after he died at the age of 81. The MS NOW veteran was complimentary of Mueller overall, but said his two-year probe into Trump failed to land a devastating blow because Barr “outplayed” Mueller.

“There’s a reason on a day like this, we need to remind people what was in Mueller’s report — what were the results of his investigation — and that’s because of a failure on his part,” Maddow said. “That is because once his investigation and his report were concluded, he was just wildly outmaneuvered by a really serpentine Attorney General named Bill Barr, who played really dirty pool when it came to the handling and release of the information from Mueller’s investigation.”

She continued:

I don’t know if he was blindsided by it or if he thought Barr was a good guy and would be a straight shooter on this, but Barr absolutely buried him in terms of in terms of the impact of of that report. And given the way that bill Barr became attorney general, Mueller and his team should have seen that coming.

If they did see it coming, they should have come up with a way to outmaneuver Barr while he was outmaneuvering them, and they didn’t.

Keep reading

How Will Corporate Lobbyists Fix Healthcare? Don’t Ask—Because You Can’t

Corporate media political reporting has always been a clubby endeavor, but a recent reporting experience suggests that the insider culture in Washington, DC, is more insular than ever.

It’s often a challenge for independent media to get responses from Washington insider sources—especially on stories critical of powerful actors—but it’s become increasingly difficult even to pose the questions to those sources. Corporate news sources now issue press releases without bothering to include any information about who to contact with follow-up questions, as if the source is handing the truth down from on high.

When I first encountered this phenomenon after returning to journalism three years ago, I assumed it was a function of the laziness and/or incompetence of individual PR hacks. In my previous life, I had written a few dozen press releases, and “who’s the contact person?” was always a key question to answer in planning media outreach. But today, a failure to offer contact information increasingly appears to be a deliberate strategy to stymie journalistic inquiry.

‘No Surprises’ unsurprising fiasco

Last November, my healthcare politics online newsletter, Healing and Stealing (11/7/25), published an investigation of a national coalition of health insurers and other big businesses. The Coalition Against Surprise Medical Billing includes major business lobbying trade associations like the National Retail Federation, National Restaurant Association, National Association of Manufacturers and the health insurance industry trade group AHIP. Through those associations and business/labor health policy alliances, most of the largest employers in the US and many major labor unions are part of the Coalition, in alliance with the health insurance companies that sell them health plans for their employees.

The Coalition lobbied for passage of the No Surprises Act. The law, passed in December 2020 and signed by President Donald Trump, limits the amount that patients have to pay out of pocket when they unknowingly see a doctor or use another service that is not covered in their health insurance plan’s network. The law also set up a new arbitration system to resolve disputes—between employers and insurers on one side, and hospitals, labs, doctors’ offices and ambulance companies on the other—over the rest of the bills.

Keep reading

Pete Hegseth’s War on Journalists (and Iran Too)

Last fall, nearly the entire Pentagon press corps was banned from the Pentagon after refusing to sign Pete Hegseth’s loyalty oath, which would have bound them to only report information “authorized” by the government (FAIR.org, 9/23/25). They were quickly replaced by pundits from Hegseth-approved outlets like One America News, Gateway Pundit and Lindell TV, which is “Pillow Guy” Mike Lindell’s pet project.

But once the Iran War got underway, it dawned on Hegseth that a Defense secretary needs to communicate with the whole country, not just the narrow slice of it reached by his favorite right-wing pundits. So Hegseth reversed course, asking the major networks to bring their cameras back to the Pentagon. They agreed, but on one condition: Some of their reporters had to be allowed to return to the press briefing room, too.

So back they came, albeit now at the back of the room. Few of these reporters—who represent outlets you’ve actually heard of, like ABC, NBC and the New York Times—are called on. Hegseth, a former Fox News weekend host, instead fields questions almost exclusively from handpicked media personalities seated in the front rows. (I’d call them reporters, but if they signed Hegseth’s 2025 oath, as most did, they’re anything but.)

Keep reading

CNN Continues Lying About Child In ‘Bunny Hat’ Who Was ‘Detained’ By ICE

Even as the White House naively attempts to placate Democrats by adopting a softer tone on deportations, the media are lying about immigration law enforcement as fiercely as ever.

CNN on Friday promoted an online streaming special centered on migrant children by referring back to 5-year-old Liam Conejo Ramos, the Ecuadorian child temporarily allowed into the U.S. with his parents by the reckless Biden administration. An immigration judge recently denied Ramos’ family’s asylum claim, meaning they’re cleared for removal. That’s another way of saying the case has been adjudicated and it’s time for Liam to go home. But CNN anchor Sara Sidner instead chose to lie about the circumstances of that whole episode.

“Do you remember this image?” she said with a photo of Ramos on screen. “It became the haunting face of a Minneapolis immigration crackdown that left that community reeling. It shows 5-year-old Liam Conejo Ramos with his Spiderman backpack and bunny hat being detained by an ICE agent while his mom is feet away inside their home.”

CNN’s poor audience would be led to believe “Little Liam” (as he was referred to by another anchor later in the day) was playing in the crisp white snow when a fed snatched him from his unsuspecting parents, ready for immediate deportation, all while his helpless mother stood by crying. That’s not what happened.

In reality, immigration authorities were attempting to detain Liam’s father, Adrian Alexander Conejo Arias, who was with his son outside their home. The father fled, leaving Liam alone, and when agents tried to unite him with his mother, who was inside, she refused to open the door, effectively leaving the child abandoned, according to the Department of Homeland Security. When the father, Adrian, was eventually captured, he requested that his son go with him to a detention facility, so he did.

Keep reading

Partisan Hack Jim Acosta Warns Partisan Hacks Are Taking Over the News Business

Former CNN employee Jim Acosta is deeply worried that ‘partisan hacks’ are taking over the news business. You couldn’t make this up.

Acosta offered his comments at a hearing set up by California Senator Adam Schiff, which just makes this story even more perfect.

Acosta is really upset about the fact that the news media is changing and he is being left behind. He claims that CBS News and other outlets are going pro-Trump. That is not happening. Jim just thinks that the news is going right wing if it’s not attacking Trump 24/7.

Deadline reported:

“The news is broken, we may not be able to put the pieces back together,” former CNN White House Correspondent Jim Acosta told a packed Burbank City Hall on Friday, warning of the rise of entertainment industry oligarchs and “media domination.”

“We need to talk about busting up big media,” Acosta insisted. “This is not America what we’re seeing now.”

Citing a “danger to our democracy,” Acosta called Donald Trump’s attacks on the media “an assault on our freedom of speech … taking us down the road of Putin and China to state-controlled media.” An old and constant thorn in Trump’s paw, Acosta certainly had something to say about David Ellison’s pending $111 billion purchase of Warner Bros Discovery – the owners of CNN.

Taking a swing at “partisan hacks” running CBS News and the probability of more job losses like we saw today, and “self-censoring,” the journalist was speaking Friday at Sen. Adam Schiff’s “Lights, Camera, Competition”: Promoting American Film Production event in the former home of the Tonight Show.

Keep reading

The Ellisons are building a media empire. Trump keeps cheering them on.

President Donald Trump and Defense Secretary Pete Hegseth publicly celebrated the wealthy Ellison family’s growing media empire in recent days, even as the Trump administration is reviewing Paramount Skydance’s deal to buy Warner Bros. Discovery and its assets including CNN for $110 billion.

“The Ellison family, two great people, great people. It’s a great family,” Trump said Monday, in remarks ahead of a Kennedy Center board meeting that referenced CBS and its upcoming broadcast of a UFC event.

On Friday, Hegseth called Warner Bros.-owned CNN’s coverage of the U.S.-Israeli war in Iran “fake news” after it reported that the administration had underestimated the risk of disruption to shipping through the Strait of Hormuz. “The sooner David Ellison takes over that network, the better,” Hegseth said. A spokeswoman for CNN declined to comment on his remarks.

CNN, a longtime target of Trump’s complaints about the media, is among the most prominent assets in Paramount’s pending acquisition of Warner Bros., which requires approval from the Justice Department.

Larry Ellison, co-founder and chairman of Oracle and a longtime friend and ally to Trump, has financially backstopped Paramount’s pending deal to buy Warner Bros. and is also a major investor in the White House-blessed deal that spun off TikTok into a U.S. company. That has helped rebrand the tech billionaire and his son David into media tycoons — with some help from Trump.

The administration’s posture toward Paramount’s proposed acquisition of Warner Bros. Discovery has drawn scrutiny since a bidding war erupted over the troubled media giant late last year.

After Netflix announced an $83 billion deal in December to buy most of Warner Bros. Discovery and spin off CNN and other cable properties, Trump told reporters he would be “involved” in deciding whether to approve it, citing the streaming giant’s market power as a potential concern.

Keep reading

Clinton Judge Rules Hegseth’s New Pentagon Press Policy is Unconstitutional

A federal judge on Friday ruled that the Pentagon’s new press policy restricting press credential of reporters is unconstitutional.

In October, Pentagon reporters turned in their badges after they refused to sign Secretary of War Pete Hegseth’s new security rule.

“Defense Secretary Pete Hegseth demanded that reporters agree by 5 p.m. Tuesday to a new policy, under which they would need to pledge to not obtain or use any unauthorized material, even if the information is unclassified — or hand over their press badges in the next 24 hours,” The Hill previously reported.

By that afternoon, Pentagon reporters turned in their badges.

The reporters turned in their badges and left the building.

The Pentagon Press Association previously released a statement blasting Hegseth.

“Today, the Defense Department confiscated the badges of the Pentagon reporters from virtually every major media organization in America. It did this because reporters would not sign onto a new media policy over its implicit threat of criminalizing national security reporting and exposing those who sign it to potential prosecution,” the PPA said.

“The Pentagon Press Association’s members are still committed to reporting on the US military. But make no mistake, today, Oct. 15, 2025 is a dark day for press freedom that raises concerns about a weakening US commitment to transparency in governance, to public accountability at the Pentagon and to free speech for all,” the statement said.

The Pentagon press pool now includes conservative outlets, including The Gateway Pundit.

The New York Times filed a lawsuit to stop the Pentagon from enforcing its new policy.

On Friday, US District Judge Paul Friedman, a Clinton appointee, blocked the Pentagon from enforcing its new policy and said it violated the First Amendment.

Keep reading