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The International Monetary Fund sounded the alarm on the Biden administration’s rampant spending as “out of line with what is needed for long-term fiscal stability.” The latest forecast from the IMF — a Washington-based group tasked with fighting financial crises worldwide — warned that the ballooning national debt and the fiscal deficit threatened to exacerbate sky-high levels of inflation while posing a long-term risk to the global economy. The IMF noted in its forecast that the US federal budget deficit grew from $1.4 trillion in fiscal 2022 to $1.7 trillion last year. ... The debt held by the public, which...

The International Monetary Fund (IMF) warned Tuesday that America’s recent economic performance is partially the result of the country’s unsustainable fiscal practices, creating risks for the global economy. “The exceptional recent performance of the United States is certainly impressive and a major driver of global growth, but it reflects strong demand factors as well, including a fiscal stance that is out of line with long-term fiscal sustainability,” the IMF wrote in its latest World Economic Outlook. “This raises short-term risks to the disinflation process, as well as longer-term fiscal and financial stability risks for the global economy since it risks...

Most readers regularly consume staggering numbers about our debt and deficit, but not all those that report this news will put those numbers in a perspective that provides meaningful context. I will try to do that here. The USA is on track to have a national debt of $35 trillion very soon, which is rising by $1 trillion about every 100 days. That’s $3.6 trillion every year. We’re no longer doling out free cash for COVID, so it’s a good assumption the $3.6 trillion additional annual debt is this administrations “business as usual.”According to Financebuzz total private wealth in the...

President Vladimir Putin is set to extend his 24 years as Russia's paramount ruler in an election on March 15-17 and has promised more than 11.5 trillion roubles ($126.5 billion) in infrastructure and social spending over the next six years. "This is the programme of a strong, sovereign country that confidently looks to the future," Putin told Russia's elite including lawmakers in a speech on Feb. 29. "We have both the resources and tremendous opportunities to achieve our goals." Russia's total budget spending in 2024 is planned at 36.6 trillion roubles, with military expenditure set to exceed social spending for...

A billboard in New York City’s Times Square warns of the “ticking time bomb” that is the $34 trillion national debt. Released by the nonprofit Committee to Unleash Prosperity (CTUP) group, the ad campaign includes a 50-f00t-high billboard that will run for three months in Times Square. The digital billboard features a video of people running away in fear of a giant countdown of the national debt until it finally explodes in oblivion. Take a look: Scared of the national debt? You should be. @Comm4Prosperity's NEW Time Square billboard warns of the threat posed by the "ticking time bomb" of...

A leading economist is warning of the dire economic consequences of a U.S. national debt that is currently increasing by $1 trillion every 100 days. On Monday, Stephen Moore, a distinguished fellow in Economics at The Heritage Foundation, joined “Washington Watch with Tony Perkins” to discuss the current economic outlook for America as the national debt continues to balloon at an unprecedented rate.

The U.S. began adding $1 trillion worth of debt about every three months beginning last June, a Bank of America investment strategist Michael Hartnett first pointed out in an investment note published last week. The national debt is currently $34.48 trillion and rising. It surpassed $34 trillion for the first time in U.S. history on Jan. 4. Three months prior, the debt first reached $33 trillion on Sept. 15, 2023. Three months prior to that, it first reached $32 trillion on June 15, 2023. “The national debt is the amount of money the federal government has borrowed to cover the...

Social Security and Medicare are underfunded by $175 trillion. The nightmare arrives. In 2014 I published my first book while I was in Hong Kong. This book focused on the insane policies of the Obama/Biden regime and offered solutions that were working overseas. The biggest problem on the table was the massive amount of unfunded liabilities that were being created under the Biden regime. Below is what I wrote at that time (pp. 23-24). Even more alarming than the US’s annual deficits or federal debt burden is the amount of its unfunded liabilities. Unfunded liabilities are financial promises made with...

The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days. The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months. U.S. debt, which is the amount of money the federal government borrows to cover...

As Commander Cody sang, “We have too much debt.” “The prices of some things will decline. Others will go up. But we don’t expect to see a decline in the overall price level,” said Federal Reserve Chair Jerome Powell, Nvidia stock hitting new highs, its market cap soaring to $1.78trln. “That doesn’t tend to happen in economies, except in very negative circumstances. What you will see, though, is inflation coming down,” explained the Fed Chairman, the average American neither understanding nor caring about the nuance. “I would say this. In the long run, the US federal government is on an...

Federal budget analysts said Wednesday that debt held by the U.S. public is on track to hit a record high in the coming years because the federal budget deficits are projected to climb over the next decade. The Congressional Budget Office (CBO) projected the debt held by the public will rise significantly over the next decade, climbing from 99 percent of GDP in 2024 to 116 percent in 2034. The jump would mark a high-water mark, the CBO said, while noting that, absent policy changes, the debt is likely to continue the upward trajectory after 2034. Federal outlays are also...

Billionaire investor Ray Dalio is warning about a 34 trillion dollar debt fueled tsunami that is about to strike the US economy. With each passing second, this storm is getting larger and larger, making it even more painful when it finally does hit. The fallout of which will likely be felt for generations. With each passing second, the US national debt grows. Adding fuel to the potential debt crisis Dalio mentioned in that clip. However, until relatively recently, this hasn’t mattered much. But according to Ray Dalio, things are now finally starting to change. Here’s why.

In a concerning financial development, the total federal debt in the United States has surpassed a staggering $34 trillion. This milestone is accompanied by a troubling surge in debt accumulation over recent periods, including $1 trillion in the past 3 months, $2 trillion in the past 6 months, $4 trillion in the past 2 years, and a staggering $11 trillion in the past 4 years.

WASHINGTON -- The federal government's gross national debt has surpassed $34 trillion, a record high that foreshadows the coming political and economic challenges to improve America's balance sheet in the coming years. The U.S. Treasury Department issued a report Tuesday logging U.S. finances, which have become a source of tension in a politically divided Washington that could possibly see parts of the government shutdown without an annual budget in place. Republican lawmakers and the White House agreed last June to temporarily lift the nation's debt limit, staving off the risk of what would be a historic default. That agreement lasts...

WASHINGTON, Jan 2 (Reuters) - The U.S. federal government's total public debt has reached $34 trillion for the first time, the U.S. Treasury Department reported on Tuesday as members of Congress gear up for another series of federal funding battles in coming weeks. The Daily Treasury Statement for Friday showed that the total public debt outstanding rose to $34.001 trillion from $33.911 on Thursday. The debt that counts toward the federal debt ceiling rose to $33.89 trillion on Friday from $33.794 trillion on Thursday. This "debt subject to limit" category excludes the unamortized discount on Treasury bills and zero coupon...

The U.S. government ran a budget deficit of $381 billion so far into the 2024 fiscal year, which represents a 13% increase from this same time period last year. The deficit is $44 billion higher than it was at the end of November 2022, according to the latest data released by the U.S. Department of the Treasury. Congress passed a "laddered" continuing resolution in November with a final expiration date of February 2. Conservative House Republicans have been calling for a reduction in federal spending to reduce the budget deficit. Congress must pass another spending bill to keep the government...

It‘s Biden’s Fiscal Inferno! Insane open borders, insane green spending, wars in Ukraine, Gaza and growing restlessness around Taiwan. Inflation. And a demented 81-year old President in charge. The U.S. government ran a budget deficit of $381 billion so far into the 2024 fiscal year, which represents a 13% increase from this same time period last year. The deficit is $44 billion higher than it was at the end of November 2022, according to the latest data released by the U.S. Department of the Treasury. The national debt in January of 2020 was $17.2 trillion, according to historical data from...

In straightforward terms, let’s address a pressing concern: Inflation is here to stay, and the US deficit is spiraling out of control. Despite Treasury Secretary Yellen’s reassurances, there’s reason to be uneasy about the mounting US debt. Facing the facts, $1 trillion-plus US budget deficits are becoming the norm, and federal projections paint a grim picture with deficits surpassing $1 trillion through 2033. In essence, the likelihood of witnessing a year with a US deficit below $1 trillion seems increasingly improbable.

Estimated annualized interest payments on the US government debt pile climbed past $1 trillion at the end of last month, Bloomberg analysis shows. That amount has doubled in the past 19 months, and is equivalent to 15.9% of the entire Federal budget for fiscal year 2022. The figures are calculated using US Treasury data which state the government’s monthly outstanding debt balances and the average interest it pays. The worsening metrics may reignite debate about the US fiscal path amid heavy borrowing from Washington. That dynamic has already helped drive up bond yields, threatened the return of the so-called bond...

Joe Biden is the Buzz Lightyear of the economy … and not in a good way. Under Biden and the Congressional spending sprees, the US debt is going to infinity … and beyond! Twenty days. That’s how long it took the Biden administration to add another half-trillion dollars to the national debt. Bidenomics certainly requires a lot of borrowing and spending. On September 15, the debt quietly blew passed $33 trillion. On October 5, it pushed above $33.5 trillion. Don’t forget about the $194+ TRILLION in unfunded liabilities that politicians promised the non 1%. By the way, it only took...