Keyword: debt
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Businesses can begin filing for tariff refunds on Monday as the federal government starts unwinding billions of dollars in import duties imposed by the Trump administration under emergency powers, opening the door to what could be one of the largest repayments to importers in U.S. history.
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There’s a new forecast of the Social Security boost retirees should expect in 2027 - and it’s a huge disappointment for the millions of Americans who depend on their bi-monthly benefit checks... Older Americans absolutely rely on this so-called ‘cost of living adjustment’ or COLA, since more than 40 percent of them depend on Social Security alone for all of their retirement income. The new estimate of the forthcoming official 2027 cost-of-living adjustment shows the average Social Security benefit check will only rise by $56, or roughly 2.8 percent. The average benefits check for retired workers would increase to $2,081...
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It’s One Big Beautiful refund. Americans are rolling in the dough this tax season thanks to a bevy of new reforms passed by the Trump administration that have boosted returns by double digits. More than 53 million taxpayers cashed in after taking advantage of new deductions included in President Trump’s signature “One Big Beautiful Bill Act,” including tax-free tips and overtime, cheaper car loan interest and senior write-offs. The tax breaks translated to a surge in refunds — as filers in 2026 took home, on average, $3,462, or 11.1% more than last year, IRS data shows. The numbers are even...
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Hunter Biden is hiding from his creditors in California, avoiding paying over $20 million he owes various people, The Post has learned. Although a lawyer for the former first son claimed he is “living abroad” in South Africa, where his wife Melissa Cohen hails from, he’s actually holed up at luxury 8,000-acre estate in Santa Ynez, two hours north of Los Angeles, sources claim. “He’s been telling everyone that he is living in South Africa because he has no money, but it’s a ruse, to show that he is broke and can’t pay his bills,” said a source close to...
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On March 18, 2026, the House of Representatives voted on H.J. Res. 139, a constitutional amendment requiring a balanced federal budget. The roll call was 211-207. Every Republican voted yes. Every Democrat voted no, save one — a defection that will presumably not be celebrated at the next caucus retreat. Under suspension of the rules, passage required 291 votes. The final count was 80 votes short. This is not a near miss. It is a structural diagnosis rendered as a procedural vote.AdvertisementThe same week, gross national debt crossed $39 trillion — $39,016,762,910,245.14 on March 17. That milestone arrived five months...
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President Donald Trump is asking for an eye-popping $1.5 trillion to fund the Pentagon in the budget proposal the White House released Friday. With the war with Iran ongoing, Trump has pushed that more money is needing to fund the US military and less on social programs. 'We're fighting wars, we can't take care of daycare,' he muttered at Wednesday's Easter lunch, which was closed to press, but video was accidentally posted online.
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The gov't debt will kill this Republic unless the drunken-sailor spending by Congress stops. The best chance to stop it: perhaps the line-item veto. The debt is now over $37 trillion dollars! To put that into perspective, suppose each dollar is a second in time. Then: $1 million = 11 days, 13 hours, 46 minutes, 40 seconds $1 billion = 31 years, 8 months, 18 days, 1 hour, 46 minutes, 40 seconds $1 trillion = 31,688 years, 8 months, 18 days, 1 hour, 46 minutes, 40 seconds Congress MUST stop spending.
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@RepNancyMace Washington’s war machine has spent decades sending our sons and daughters into endless conflicts in the Middle East, with no clear exit strategy, all to serve the interests of powerful politicians. We will not stand for it. We will not sacrifice American lives for the same failed foreign policies. The war machine may be willing to give the lives of your sons and daughters for the price of oil, but we are not.
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Low-cost alternatives to the multimillion-dollar missiles the U.S. is using in its war against Iran are still years away, key Pentagon officials said Tuesday, leaving the military reliant on high-cost munitions that are increasingly in short supply. The U.S.-Israel campaign against Iran has burned through complex weapons that cannot be replaced quickly or affordably enough to maintain the Pentagon’s usual stockpiles. Military officials said at a Senate Armed Services Committee briefing that cheaper munitions are on the long-term horizon, but the U.S. industrial base still needs time to scale up to the Defense Department’s increasing needs. Expanding the American industrial...
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Senator Rand Paul, R-Ky., has introduced a detailed concurrent budget resolution known as the "Six Penny Plan" that lays out a clear, decade-long roadmap to end chronic federal deficits, achieve surpluses, and begin reducing the national debt. Paul's plan, announced late 2025, sets firm, enforceable spending and revenue targets for fiscal years 2026 through 2035 without raising taxes beyond current projections. "It balances in five years" Paul told Just The News. "But it's important to know that it has to be every bit. It's 6% of the entire budget. It doesn't work on just the discretionary budget." The U.S. national...
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WASHINGTON — Education Secretary Linda McMahon is sending a letter to 43 million Americans with student loans — about 9 million of whom are in default — to notify them that the Treasury Department is taking over debt collection, The Post has learned. The letter describes the transfer of responsibilities as a way to protect taxpayers by improving the efficiency of the collection process — after loan repayments were paused through much of the Biden administration, with borrowers protected from delinquency through September 2024. “For too long, Americans have shouldered the consequences of poor leadership and persistent mismanagement of our...
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@Acyn Boebert: I am so tired of spending money elsewhere. I am tired of the industrial war complex getting all of our hard earned tax dollars. I have folks in Colorado who can't afford to live. We need America first policies right now.
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WASHINGTON, March 18 (Reuters) - The Pentagon has asked the White House to approve a more than $200 billion request to the U.S. Congress to fund the war in Iran, the Washington Post reported on Wednesday, citing a senior administration official.
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WASHINGTON, March 18 (Reuters) - The Pentagon has asked the White House to approve a more than $200 billion request to the U.S. Congress to fund the war in Iran, the Washington Post reported on Wednesday, citing a senior administration official.
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The US Department of the Treasury completed a record $14.7 billion debt buyback operation on March 10, 2026 with settlement on March 11, 2026. This marks the largest single Treasury buyback in history. The operation targeted nominal coupon securities maturing between April 15, 2026, and February 29, 2028. The Treasury had announced a maximum par amount of $15 billion to be redeemed, but accepted $14.697 billion in par value from offers totaling nearly $41 billion submitted by participants. This buyback is part of the Treasury’s regular debt management strategy, which includes: Improving liquidity in the massive US Treasury market over...
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https://x.com/jayblackisfunny/status/2031479216647094640Jay Black@jayblackisfunny5hPete Hegseth spent $100,000 on a piano, $2 million on Alaskan King Crab, $7 million on lobster tail, $15 million on steak, $120,000 on ice cream machines, and $12,000 on fruit basket stands… JUST IN SEPTEMBER! (But, tell me again how Somali day care centers are the problem.)@amuse@amuse36m@grok did Pete by a $100K piano? $2M on crabs? $15M on steaks? $120K on ice cream? And $12K on fruit? All in September?Grok@grok35mNo, Secretary Hegseth didn't personally buy these. Per OpenTheBooks analysis of DoD data, these were Pentagon-wide contracts in Sept 2025 (end of fiscal year "use-it-or-lose-it" spending spike to $93B...
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U.S. Sen. Cory Booker (D-N.J.) announced legislation on Monday to eliminate federal income taxes on the first $75,000 of income. The ‘Keep Your Pay Act’ would raise the standard deduction to $75,000 for married couples filing jointly, with proportional amounts for single filers and heads of household. The measure would cut federal income tax on the median American family by an estimated 85%. “New Jerseyans are working harder than ever, but they’re struggling to get by because they’re facing out-of-control costs and an economy that is stacked against them — so we need big ideas to start making the American...
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President Donald Trump met Friday afternoon with CEOs of major defense industry companies at the White House as the war against Iran ended its first full week.After the meeting, Trump said in a social media post that “we discussed Production and Production Schedules” and “they have agreed to quadruple Production of the ‘Exquisite Class’ Weaponry in that we want to reach, as rapidly as possible, the highest levels of quantity.”Trump did not explain what he meant by “Exquisite Class Weaponry.” The term is used in the defense industry to describe one-of-a-kind technology or systems.Trump said the meeting included CEOs of...
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I have argued that the current economic environment has a lot of eerie parallels to 2007. We have extremely high asset valuations, the economy is loaded up with debt, and monetary policy has taken a similar trajectory, with easy money blowing up these bubbles. We even have characters like Larry Kudlow talking up the economy just like they did in 2007. I'm not the only one who sees these concerning parallels. JPMorgan Chase CEO Jamie Dimon recently said elevated asset prices and an increasingly competitive banking environment, pushing more credit, remind him of the pre-2008 financial crisis years. "My own...
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Many Americans were skeptical of Elon Musk’s grandiose claims that DOGE would take a “chainsaw” to federal spending. One “tax nerd” was so skeptical he decided to “bet his life savings” on Musk’s promises being a flop — and it paid off big time, according to a report by The Wall Street Journal. Musk has seen his approval rating descend as he has taken a more publicly active role politically, plus ongoing criticism and litigation over his management of his social media platform X and support for far-right politics in Europe. He jumped into his work with the Department of...
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