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Keyword: debt

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  • [Dallas] School District Seeks More Debt for Democrat Policies

    06/25/2020 2:01:38 PM PDT · by JeepersFreepers · 7 replies
    Texas Scorecard ^ | 6/24/2020 | Robert Montoya
    This November, the Dallas Independent School District will ask voters to approve a shocking $3.7 billion bond—on top of their outstanding $2.5 billion debt, which they haven’t finished using yet. They propose spending $40 million of this not in the classroom, but to support Democrat policies like “immigration services.” "It is our responsibility to use the 2020 bond funding to right the wrongs of our past,” said Michelle Prudhome-Coleman, director of Dallas ISD’s Racial Equity Office. The district’s presentation mentioned “unfair distribution of financial, educational, and material resources” in the past. This bond is unique because, unlike other bonds, the...
  • Fitch Downgrades Canada's Ratings From AAA to 'AA+'; Outlook Stable

    06/24/2020 9:51:45 AM PDT · by SeekAndFind · 6 replies
    FITCH RATINGS ^ | 06/24/2020
    Fitch Ratings has downgraded Canada's Long-Term Foreign Currency Issuer Default Rating (IDR) to 'AA+' from 'AAA'. The Rating Outlook is Stable. KEY RATING DRIVERS The rating downgrade reflects the deterioration of Canada's public finances in 2020 resulting from the coronavirus pandemic. Canada will run a much expanded general government deficit in 2020 and emerge from recession with much higher public debt ratios. The higher deficit is largely driven by public spending to counteract a sharp fall in output as parts of the economy were shuttered to contain the spread of the coronavirus. Although this will support recovery, the economy's investment...
  • 11 Reasons Why China’s Economy is Failing and in Terrible Shape – NEVER Trust Data Coming Out of China!

    06/21/2020 7:22:15 AM PDT · by SeekAndFind · 12 replies
    Gateway Pundit ^ | 06/21/2020 | Joe Hoft
    China’s economy was slowing drastically last year before the coronavirus outbreak in Wuhan. There were multiple signs that China’s economy was in horrible shape. Today we provide a couple more examples. In December 2019 we reported you can feel it in Hong Kong. The economy is sluggish. We reported for months that President Trump had the US in the position that it could only win in a trade deal with China and he did.We reported in a post in August 2019 that President Trump recognized that China is in an all out war with the US in regards to information...
  • China: End of the Belt and Road? Growing sense of unease in Beijing over calls to write off debt to stressed African states.

    06/11/2020 9:29:10 AM PDT · by SeekAndFind · 16 replies
    Euro Money ^ | 06/04/2020 | By:Elliot Wilson
    Mainland Chinese firms invested $72.2 billion in Africa between 2014 and 2018, much of it through the Belt and Road Initiative. Now that Covid-19 has struck, there is a growing sense of unease in Beijing over calls to write off debt to stressed African states.
  • China: End of the Belt and Road Initiative? Growing sense of unease in Beijing over calls to write off debt to stressed African states.

    06/06/2020 7:00:41 PM PDT · by SeekAndFind · 18 replies
    Euro Money ^ | 06/06/2020 | Elliot Wilson
    In April 2019, analysts at Rhodium Group in Hong Kong sat down to assess the financial viability of China’s Belt and Road Initiative (BRI). What they found surprised them. The second Belt and Road Forum had just wrapped up in Beijing and policymakers in the mainland and beyond were starting to voice their concerns. Western leaders feared that China was drowning the emerging world in general, and Africa in particular, in a new wave of debt. Officials in Beijing pushed back against charges of ‘debt-trap diplomacy’, but they were beginning to stick.China had internal reasons to fret. From the outset,...
  • Coronavirus threatens China's Belt and Road Initiative. What happens when it wants half a trillion dollars back?

    06/01/2020 8:27:51 AM PDT · by SeekAndFind · 11 replies
    Los Angeles Times via MSN ^ | 06/01/2020 | By Shashank Bengali and Neha Wadekar
    NAIROBI, Kenya — When Chinese engineers flew home in January for the Lunar New Year, few in Africa would have imagined that coronavirus outbreak was about to ground planes, upend supply lines and freeze work on dozens of Chinese-built roads, railways, ports and power stations. Many of the engineers haven’t returned. Construction sites fell silent. And now the COVID-19 pandemic has unleashed a global recession that threatens the colossal international loan program that is a symbol of China’s growing prestige and a centerpiece of President Xi Jinping’s reign. The Belt and Road Initiative — China’s effort to finance nearly half...
  • The Spread of the Debt Virus

    05/28/2020 4:41:31 AM PDT · by Kaslin · 25 replies ^ | May 28, 2020 | Victor Davis Hanson
    The current U.S. budget deficit could soon exceed a record $4 trillion. The massive borrowing is being driven both by prior budget profligacy and a hurried effort by the Donald Trump administration to pump liquidity into a quarantined America. The shutdown has left the country on the cusp of a self-inflicted economic collapse not seen since the Great Depression. Americans may soon have to service a staggering national debt of about $30 trillion -- nearly $100,000 of debt for every American. Democrats and Republicans can blame each other, either for spending too much or for too little taxation, or both....
  • The US wants China's money: And the Chinese want to give it to us

    05/21/2020 5:51:34 AM PDT · by SeekAndFind · 11 replies
    American Thinker ^ | 05/21/2020 | By Fritz Pettyjohn
    If there's one thing the Chinese can count on from their government, it's theft. For millennia, the unelected despots of China have robbed their people of their money. The communists are doing it today. There are four state banks in China, and there is no other place that is allowed to take money on deposit. These banks pay virtually no interest, and no deposit in any bank controlled by communists is safe. If the government needs to, it'll just take it. All this money is being used right now in service of whatever goal the communists choose. There is no...
  • Twenty-year Treasury bond will add to $25 trillion U.S. debt pile

    05/20/2020 4:14:23 AM PDT · by Oldeconomybuyer · 2 replies
    Reuters ^ | May 20, 2020 | by Saqib Iqbal Ahmed
    NEW YORK - Investors expect robust demand for the Treasury Department’s new $20 billion issue of 20-year bonds, set to launch Wednesday, from U.S. institutions, foreign investors and other market participants. The government’s borrowing needs have jumped dramatically in recent weeks, after Congress authorized trillions in spending to fend off an economic hit from the coronavirus pandemic, which has slammed U.S. growth. The U.S. plans to sell a total of $54 billion of the 20-year bonds over the next three months. The Treasury said earlier this month it intends to increase auction sizes across all nominal coupon tenors over the...
  • Vatican, US Church Leaders Quiet on Coronavirus ‘World Government’ Letter Signed by Bishops

    05/14/2020 5:59:11 PM PDT · by marshmallow · 7 replies
    Catholic News Agency ^ | 5/13/20 | JD Flynn
    Denver Newsroom, May 13, 2020 / 03:36 pm MT (CNA).- Neither the Vatican nor U.S. bishops have responded to a letter signed by several Catholic bishops, which argues that the coronavirus pandemic has been exploited in order to create a one-world government. The May 7 letter, titled “Appeal for the Church and the World,” claims that “there are powers interested in creating panic among the world’s population with the sole aim of permanently imposing unacceptable forms of restriction on freedoms, of controlling people and of tracking their movements.” “The imposition of these illiberal measures is a disturbing prelude to the...
  • Fed chief has no time to worry about U.S. debt during wartime

    05/13/2020 12:53:25 PM PDT · by Oldeconomybuyer · 18 replies
    Reuters ^ | May 13, 2020 | by Howard Schneider
    WASHINGTON - The U.S. government has a $3 trillion bulge of debt coming through the pipeline because of the coronavirus pandemic. It also has perhaps 30 million or more freshly unemployed Americans to support, tens of thousands of businesses on the ropes, and a possibly extended battle with a virulent disease to underwrite. Given the choice between leaving the economy without a lifeline and making that debt load even bigger, Federal Reserve Chair Jerome Powell on Wednesday sent a not-so-subtle message to U.S. elected officials: Spend whatever you need in this crisis. “There’s a degree of concern at the Fed...
  • How Trillion-Dollar Deficits Kill Blue-Collar America, And Coronavirus Bailouts Make It Worse

    05/11/2020 6:52:05 AM PDT · by Kaslin · 17 replies
    The Federalist ^ | May 11, 2020 | Willis L. Krumholz
    Because of the coronavirus bailouts, the federal deficit is now expected to be $3.7 trillion for fiscal year 2020. This is a huge drag on Americans' earnings and retirement security. Coronavirus panic is hitting the global economy, and America is no exception. To patch over the shelter-in-place orders and compensate closed businesses, Congress has passed well more than $2.7 trillion in so-called stimulus, including subsidized loans to businesses, increased unemployment insurance, direct payments to Americans, and funding for hospitals and state and local governments.Because of this, the federal deficit is now expected to be $3.7 trillion for fiscal year 2020....
  • National debt could hit $40 TRILLION by end of pandemic, Congressman warns

    05/08/2020 5:44:03 AM PDT · by RandFan · 28 replies
    Just The News ^ | 8th May 2020 | By Nicholas Ballasy
    Rep. Thomas Massie, R-Ky., is warning that federal coronavirus stimulus spending could drive the national debt to $40 trillion by the end of the pandemic. “The governors are talking about opening the economy back up, but they're talking about doing it under limited circumstances, and they're all warning they will shut it right back down if they see an increase in the numbers of COVID infections. And there's no reason to believe the numbers won't increase when they open it back up,” Massie said during an interview with Just the News. “We've spent $7 trillion — spent or loaned. I...
  • Bill de Blasio is hopelessly out of his depth in NYC’s new fiscal crisis

    05/07/2020 11:18:33 PM PDT · by knighthawk · 22 replies
    NY Post ^ | May 07 2020 | Chaim Deutsch
    We are beginning to see a light at the end of the coronavirus tunnel. But there are hard times ahead for our nation, state and beloved New York City. The choices we make now will ­determine how quickly we ­recover. Vague and contradictory policies — the kind we’re all too accustomed to from this mayoralty — won’t help. Mayor Bill de Blasio reacted too late to the health side of the crisis, delaying lockdowns when a week or two earlier could have reduced deaths by as much as 80 percent, according to former city Health Commissioner Dr. Tom Frieden. As...
  • House Dems drafting new 'multitrillion-dollar' coronavirus relief bill

    05/06/2020 1:05:15 PM PDT · by jazusamo · 31 replies
    Fox News ^ | May 6, 2020 | Marisa Schultz
    House Democrats are pushing forward with a massive fifth round of coronavirus relief legislation that could be their most far-reaching effort yet to address the economic fallout of the pandemic -- and come with another price tag in the trillions. While the House is still technically on recess, Democratic leadership and committee chairs have been drafting their legislative laundry lists for the relief package that could rival the cost of the $2.2 trillion CARES Act that passed in March, or exceed it. "We're looking at a multitrillion-dollar bill," one House Democratic aide told Fox News. While the text of the...
  • U.S. trade deficit soars 12% in March as coronavirus slams exporters and tourism

    05/06/2020 7:22:42 AM PDT · by fluorescence · 1 replies
    MarketWatch ^ | May 5, 2020 | Jeffrey Bartash
    The U.S. trade deficit widened by almost 12% in March as the coronavirus pandemic grounded international flights, froze the global tourism industry and caused massive disruptions in the exchange of goods such as new cars and iPhones. Imports fell 6.2%, but U.S. exports tumbled an even deeper 9.6% to cause the trade gap to rise. It’s the biggest monthly decline in exports ever recorded. The U.S. deficit rose to $44.4 billion in March from $39.8 billion in February, the government said Tuesday. Economists polled by MarketWatch had forecast a $44.2 billion shortfall. Exports fell to $187.7 billion in March from...
  • Nearly 50 million Americans just had their credit card limits cut

    05/05/2020 5:37:56 PM PDT · by fluorescence · 27 replies
    CBS News ^ | May 4, 2020 / 1:30 PM | Khristopher J. Brooks
    About 1 in 4 credit card holders — or almost 50 million Americans — had their credit limits cut or their card accounts closed in the past 30 days, according to a consumer survey by Lending Tree's Compare Cards website. The reductions particularly affected men between the ages 18 and 38, according to the survey. Lenders aren't required to tell customers when their credit limits are lowered, LendingTree analyst Matt Schulz said, adding that many lenders made their moves in the past month to avert losses if cash-strapped consumers struggle to keep up with payments amid surging U.S. unemployment. The...
  • Treasury to borrow record $3 trillion in a single quarter

    05/04/2020 2:14:24 PM PDT · by yesthatjallen · 53 replies
    The Hill ^ | 05 04 2020 | Niv Elis
    The Treasury Department will borrow a record-breaking $3 trillion between April and June as it moves to dispense emergency relief for the coronavirus pandemic. In a Monday statement, the Treasury said that it expected to borrow $2.99 trillion "in privately-held net marketable debt," which would leave it with a $800 billion cash balance at the end of June. Congress has passed roughly $3 trillion worth of spending to help prevent an economic collapse during the pandemic, including stimulus checks, expanded unemployment insurance, forgivable loans to small businesses and other financing options for larger businesses. SNIP That figure will be more...
  • Treasury plans to borrow $3 trillion from April through June as enormous coronavirus costs pile up

    05/04/2020 12:13:10 PM PDT · by NRx · 76 replies
    WaPo ^ | 05-04-2020 | Rachel Siegel
    The Treasury Department plans to borrow $2.99 trillion from April through June to cover the federal government’s massive response to the coronavirus pandemic, issuing a tremendous level of debt to try and limit the economic impact on U.S. businesses and workers. Last year, Treasury borrowed $1.28 trillion over 12 months. The $3 trillion in borrowing Treasury plans to do now would be done over just three months. Congress has approved nearly $3 trillion in new spending in the past two months to try and arrest the economic fallout of the crisis. Because revenue levels are falling, Treasury is planning to...
  • Trump calls for return to 'the way it was' as coronavirus crisis crashes economy

    04/29/2020 4:43:58 PM PDT · by E. Pluribus Unum · 53 replies
    The Washington Times ^ | Updated: 6:21 p.m. on Wednesday, April 29, 2020 | Dave Boyer
    The coronavirus crisis is crashing the U.S. economy at the fastest rate since the Great Depression, the government reported Wednesday, while the Federal Reserve pledged to keep interest rates near zero as long as it takes to bolster a recovery. President Trump said the need for people to go back to work is so urgent that he wants to see a return soon to full-capacity restaurants, sports stadiums —and campaign rallies — with or without a vaccine. “We want it to be the way it was,” Mr. Trump said during a meeting with business leaders at the White House. “We...