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Keyword: nationaldebt

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  • 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...
  • Congress, Trump and the Fed Are Creating the Biggest Economic Bubble in World History

    04/05/2020 4:12:32 AM PDT · by Kaslin · 44 replies ^ | April 5, 2020 | Justin Haskins
    We’re living in truly extraordinary times — and no, I’m not talking about Netflix’s Tiger King documentary. I’m referring to the unprecedented actions taken by the Federal Reserve and national government to deal with the severe economic consequences of policymakers’ decision to shut down much of the U.S. economy to keep people safe from coronavirus. Over the past several weeks, the Fed has started to implement its plan to “print” trillions of dollars to bolster credit markets, and Congress and the Trump administration recently signed into law a gargantuan $2 trillion stimulus package. Even more incredibly, President Trump is now...
  • Who started the National Debt nuttiness?

    03/26/2020 6:29:11 AM PDT · by j.argese · 58 replies
    vanity | 03/24/2020 | j.argese
    Okay, I’ve been trying to do some research as to when “The Dafficit” (Hat tip to Daffy Jim Sasser) became a thing. About the only people nuttier than gold bugs and audit the fed crack pots. Country will never be broke, it can do something you or I CAN’T do. So when did this political-financial flim-flam get started and who did so?
  • The Debt is a Wobbling House of Cards

    02/15/2020 5:14:19 AM PST · by Kaslin · 48 replies ^ | February 15, 2020 | Dan Celia
    America’s long-term national debt problem could lead to economic Armageddon. The misguided belief that we are actually paying down our debt is giving this administration a false sense of security. We can have all the growth we can muster in our GDP but if we are spending more than what’s coming in, the debt will only keep building. The days of growing our way out of debt were lost $5 trillion ago. This week the CBO announced that for the first four months of the government’s fiscal year ending in January we had created a deficit of $1.2 trillion. As a...
  • Plunging America Into a Sea of Debt

    02/14/2020 6:50:16 AM PST · by Kaslin · 23 replies ^ | February 14, 2020 | Donald Lambro
    WASHINGTON - The government’s debt is rising faster than one can say bankruptcy, default, delinquency, insolvency and ruin. If you don’t believe me, here’s what Phillip Swagel, the director of the Congressional Budget Office, told the House Budget Committee last month: “As a result of the persistently large deficits, federal debt held by the public is projected to rise to $31.4 trillion at the end of 2030, an amount equal to 98 percent of” our nation’s entire GDP. That means our entire economy. “At that point, debt would be higher as a percentage of GDP than at any point since...
  • Our Coming Debt Crisis

    01/31/2020 6:59:46 AM PST · by Kaslin · 40 replies ^ | January 31, 2020 | Neil Patel
    Ten to 20 years from now, we will not be talking about impeachment, and believe it or not, we won't still be talking about Donald Trump either. We will be talking about our debt crisis. For all the good that came from this era, the Bush, Obama and Trump administrations will all be remembered as the ones that caused the crisis that will hammer our children and grandchildren. To understand where we are, it's helpful to review the past few years of this issue's development. At the Bush White House, where I worked for eight years, we knew we had...
  • What Trump should do to stimulate economy (VANITY)

    01/07/2020 7:40:44 AM PST · by Crucial · 24 replies
    01-07-2010 | Myself
    I’m not an economic expert by any means. IMHO, the primary economic policy of the Trump administration is and should be economic growth and I think he takes this seriously. The problem we have is this government is overloaded with debt. And because of this debt, the Fed accelerated the printing money. The problem with this is that it causes inflation. The problem with inflation is that if it is too high, it suppresses economic growth. It looks to me that this is what is happening, thanks to a substantial amount of debt Trump inherited from Obama and past presidents...
  • House approves $1.4 trillion spending bill, repealing ObamaCare taxes - (Merry Christmas)

    12/17/2019 8:38:53 PM PST · by re_tail20 · 12 replies
    Fox News ^ | December 17, 2019 | Alex Pappas
    The Democratic-controlled House on Tuesday approved a $1.4 trillion federal spending bill to avoid a government shutdown that includes funding for President Trump's border wall, strips ObamaCare taxes, raises the minimum age for buying tobacco products and gives Democrats increases for a variety of other domestic programs. The House – as it prepares to vote on articles of impeachment against President Trump – approved all 12 spending bills. They now go to the Senate to sync up later this week. “I am proud that we were able to come together, negotiate our differences, and reach a bipartisan agreement that makes...
  • US debt surpasses $23 trillion for first time

    11/01/2019 3:12:07 PM PDT · by Berlin_Freeper · 55 replies ^ | November 1, 2019 | Niv Elis
    The federal government's outstanding public debt has surpassed $23 trillion for the first time in history, according to data from the Treasury Department released on Friday. Growing budget deficits have added to the nation's debt at a speedy rate since President Trump took office. The debt has grown some 16 percent since Trump's inauguration, when it stood at $19.9 trillion. It passed $22 trillion for the first time just 10 months ago. Of the $23 trillion figure, just under $17 trillion was in the category of debt held by the public, which is a more useful gauge of the debt...
  • Two Ticking Time Bombs That Began Under President Reagan And Are Only Getting Worse

    09/23/2019 8:56:54 AM PDT · by SeekAndFind · 42 replies
    Townhall ^ | 09/23/2019 | Scott Morefield
    I grew up during the Reagan years, and I remember them well. To me, the war and social upheavals of the 60s were history I’d never experienced and the country had thankfully moved past, and I was too young to remember the Carter malaise. So, the sense of national unity, patriotism, and optimism under the Gipper seemed like the norm, not an eight-year aberration, for a child of the 80s like myself. In hindsight, President Reagan was exactly what the country needed at the time. His inspiring speeches, calming demeanor, and even strident anti-communism were the perfect tonic for a...
  • Why Did the Deficit Just Top $1 Trillion? Here’s Another Clue For You All

    09/19/2019 4:38:11 AM PDT · by gattaca · 14 replies
    Issues and Insights ^ | September 12, 2019 | John Merline
    The Congressional Budget Office reported on Tuesday that, with one month to go, the federal deficit for fiscal year 2019 has already topped $1 trillion. As night follows day, Trump administration critics blamed the tax cuts. And once again, the data prove them wrong. The CBO report says that the federal deficit reached $1.067 by the end of August. That’s up $168 billion from the comparable period in fiscal year 2018. The deficit this year will be larger than the entire budget was in 1987. Where did the increase come from? Why, tax cuts, of course. But the report shows...
  • The Fall of Rome - Are There Lessons We Can Learn?

    09/04/2019 1:32:23 PM PDT · by Perseverando · 12 replies
    American Minute ^ | September 04, 2019 | Bill Federer
    GREAT WALL OF CHINA By 220AD, the Later Eastern Han Dynasty had extended sections of the Great Wall of China along its Mongolian border. This resulted in the Northern Huns attacking west instead of east. This caused a domino effect of displaced tribes migrating west across Central Asia, and overrunning the Western Roman Empire. OPEN BORDERS Illegal immigrants poured across the Roman borders: Visigoths, Ostrogoths, Franks, Anglos, Saxons, Alemanni, Thuringians, Rugians, Jutes, Picts, Burgundians, Lombards, Alans, Vandals, as well as African Berbers and Arab raiders. Will and Ariel Durant wrote in The Story of Civilization (Vol. 3-Caesar and Christ, Simon...
  • Open Letter: Elizabeth Warren is the right choice for NH children and parents

    06/30/2019 10:48:55 PM PDT · by conservative98 · 34 replies
    Manchester Ink Link ^ | June 30, 2019 | Jacqueline Chretien
    To the Editor: As a Representative in New Hampshire’s legislature, I hear from my neighbors every day about the challenges their families face. The time for us to elect a new president is fast approaching, and with this in mind, I believe no candidate is better qualified to address the concerns of the nation and New Hampshire than Elizabeth Warren. I am endorsing Elizabeth for many reasons, but especially because of her Universal Child Care plan. Child care and education have always been important to me, and I know firsthand that the scarcity and cost of high-quality child care is...
  • 4 Takeaways From a New Report on the National Debt

    06/26/2019 11:53:25 AM PDT · by Tolerance Sucks Rocks · 41 replies
    The Daily Signal ^ | June 25, 2019 | Justin Bogie
    A new government report has given us a glimpse into our nation’s fiscal future, and the outlook is grim. Absent major reforms, America’s debt will only continue to balloon. The Congressional Budget Office released its updated long-term budget report on Tuesday, which projects the nation’s fiscal situation for the next 30 years. Despite the strong economy, the nation remains in a precarious and unsustainable budget position, just as it was last year. Debt held by the public is set to rise to nearly one and a half times the size of the economy in the coming decades. The report also...
  • ‘Bond King’ Jeffrey Gundlach says the national debt is ‘totally out of control’

    05/07/2019 9:47:59 AM PDT · by DCBryan1 · 53 replies
    CNBC ^ | 7 MAY 19 | Kate Rooney@Kr00ney
    U.S. debt has climbed to an alarming level, according to DoubleLine Capital CEO Jeffrey Gundlach. “People are starting to realize that the deficit and debt are totally out of control,” Gundlach said on CNBC’s “Halftime Report” Tuesday. Guldach said the “main reason” the yield curve between 3-year Treasury bonds and 5-year bonds is steepening is a ballooning deficit. Gundlach — sometimes known as the “bond king” — runs the $50 billion DoubleLine Total Return Bond Fund. Its five-year performance is one of the best in its category, but lagged most of its peers in 2019 with a gain of just...
  • Larry Kudlow: Trump won't pay down any of the national debt

    04/29/2019 10:51:27 AM PDT · by deplorableindc · 125 replies
    Washington Examiner ^ | April 29, 2019
    White House chief economic adviser Larry Kudlow told reporters Monday that President Trump is unlikely to pay off any of the national debt, currently at $22 trillion. "Whoa, whoa, it doubled under the prior eight years," Kudlow said on the White House driveway, downplaying Trump's responsibility for the current level of debt. "Yes, it's gone up a bit," Kudlow conceded, but he argued that "growth is the solution to any debt issues that might be on the table — and so far, so good. Let's just keep the policies in place."
  • Just Stop Spending: Hey Congress, Stop spending money you don’t have, dummy.

    03/20/2019 11:55:44 AM PDT · by SeekAndFind · 23 replies
    National Review ^ | 03/20/2019 | Kevin Williamson
    Stop spending money you don’t have, dummy. Can we conservatives agree — at least among ourselves — on that much? Maybe not. Confession: I am not much of an ideologue. And I don’t think “Stop spending money you don’t have, dummy!” is an ideological position, exactly. And there’s no need to be fanatical about it: Running a deficit during a serious economic downturn, a war, or a national emergency? I’m flexible. You show me Hitler invading Poland and my response is not going to be: Stop spending money you don’t have, dummy. Whip those Nazis. And, then: Stop spending money...
  • Our National Debt is Our National Disgrace

    02/24/2019 10:09:02 AM PST · by Sean_Anthony · 10 replies
    Canada Free Press ^ | 02/24/19 | Jeff Crouere
    The most effective way to deal with the national debt has always been the same, reducing the size of the gargantuan federal government In mid-February, our national debt reached $22 trillion, a new record for our country. Since President Trump took office in January of 2017, our debt has increased over $2 trillion. During the administration of President Obama, it increased from $10.6 trillion to $19.9 trillion. Thus, the national debt has more than doubled in 10 years and it is still increasing nearly $1 trillion per year. According to the Congressional Budget Office, the national debt for this fiscal...
  • What To Do About Our Record National Debt? Anyone? Anyone? Bueller?

    02/21/2019 7:17:07 AM PST · by SeekAndFind · 35 replies
    Hotair ^ | 02/21/2019 | Andrew Malcolm
    While the news media and thus the country obsess over really important stuff like 30-year-old yearbook photos and details of an alleged phony hate crime, the United States’ national debt did not climb, nor inch, nor slide to a new record high the other day.The nation’s accumulating national debt soared through $22 Trillion. In fact, the amount that Americans owe others now resides north of $22.3 trillion, larger than the entire national economy.It’s not only growing because the country continues to blithely spend beyond its means. It’s growing because, to stem the growth of inflation, the Fed has raised...
  • Congress shrugs off $22 trillion national debt: 'I don't see a lot of appetite for cutting spending'

    02/20/2019 4:28:54 PM PST · by jazusamo · 81 replies
    The Washington Times ^ | February 20, 2019 | David Sherfinski
    Yes, Congress is aware the national debt recently surpassed $22 trillion for the first time in U.S. history. No, members don’t think they’ll do anything to seriously address it anytime soon. “I don’t see anybody prioritizing it, and sadly folks often prioritize things when crisis hits. I don’t want a debt spiral crisis to hit,” said Rep. Rob Woodall, Georgia Republican. “I hear lots of conversations about how to spend a whole lot more.” With the spending process for 2019 now wrapped up, lawmakers are turning their attention to exactly how they plan to avoid $126 billion in cuts set...