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Keyword: debt

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  • Krugman: This Austerity Craze Is Just Mind-Boggling--It's As If We WANT The 1930s To Happen Again

    06/17/2010 8:46:14 PM PDT · by blam · 28 replies · 844+ views
    The Business Insider ^ | 6-17-2010 | Henry Blodget
    Krugman: This Austerity Craze Is Just Mind-Boggling--It's As If We WANT The 1930s To Happen Again Henry BlodgetJun. 17, 2010, 10:07 PM Paul Krugman continues to hammer away on the idea that the world's sudden lurch toward austerity will crush the recovery and send us tumbling back into recession. Suddenly, creating jobs is out, inflicting pain is in. Condemning deficits and refusing to help a still-struggling economy has become the new fashion everywhere, including the United States, where 52 senators voted against extending aid to the unemployed despite the highest rate of long-term joblessness since the 1930s. Many economists, myself...
  • Student Loan Defaults Loom For Millions As Trump Administration Resumes Debt Collections

    06/27/2025 5:46:42 AM PDT · by SeekAndFind · 29 replies
    Daily Voice ^ | 06/27/2025 | Chris Spiker
    Millions of federal student loan borrowers are just weeks away from default as serious delinquencies surge to record highs after the Trump administration resumed debt collections, economists say. Nearly one-third (31%) of federal borrowers with a payment due were at least 90 days late in April, according to a new report from TransUnion released on Tuesday, June 24. That's nearly triple the pre-pandemic rate of 11.7% and the highest figure on record. Just 0.3% of borrowers were in default by April, but with nearly 5.8 million now more than 90 days late, many are on the brink of defaulting. Once...
  • China shields terrorist

    08/14/2022 1:17:19 AM PDT · by Jyotishi · 5 replies
    The Pioneer ^ | Saturday, August 13, 2022 | Opinion, The Pioneer
    India and the US wanted Jaish-e-Mohammed deputy chief Abdul Rauf Azhar to be designated as a ‘global terrorist’ A month after Beijing shielded Pakistan-based deputy leader of Lashkar-e-Taiba (LeT) Abdul Rehman Makki, an international terrorist, it has done an encore. It has vetoed a similar joint proposal at the United Nations Security Council (UNSC), again by India and the US, to designate Jaish-e-Mohammed (JeM) deputy chief Abdul Rauf Azhar as a “global terrorist.” He is the younger brother of JeM founder Maulana Masood Azhar, another murderous jihadist. India was understandably incensed at China, castigating it for its “double speak” and...
  • US debt clock, 2029

    06/22/2025 4:03:05 PM PDT · by delta7 · 9 replies
    US debt clock ^ | 21 June 25 | US Debt clock
    Streaming Graphic.
  • Happy $37 Trillion in Debt Day Everyone! (my title)

    06/19/2025 3:32:38 PM PDT · by fhayek · 31 replies
    I don't know how 'official' this site is, but if you follow U.S. Debt Clock.org, we should hit $37 trillion in the national debt sometime after 9:00 pm Eastern Time (if my math is correct, which I wouldn't count on..). If you are the kind of person who likes to watch the odometer in your car turn over, this could be a real treat. Of course, the reality is that we are governed by feckless idiots who have seemingly abandoned all fiscal reponsibility. So, this is really a monument to their uselessness.
  • If this continues, America goes de facto bankrupt and all tax revenue will go to paying interest on the national debt with nothing left for anything else.

    06/16/2025 10:11:58 AM PDT · by Racketeer · 27 replies
    X ^ | June 16, 2025 | Elon Musk
    How did we arrive at a point in this country where 25% of all tax revenue goes to just paying the interest in $37 trillion in govt debt? Annually: US govt total reveneue = about $5 trillion ...
  • Interest Rates

    06/07/2025 6:12:05 AM PDT · by delta7 · 51 replies
    Truth Social ^ | 6 June 25 | President Trump
    “If “Too Late” at the Fed would CUT, we would greatly reduce interest rates, long and short, on debt that is coming due. Biden went mostly short term. There is virtually no inflation (anymore), but if it should come back, RAISE “RATE” TO COUNTER. Very Simple!!! He is costing our Country a fortune. Borrowing costs should be MUCH LOWER!!!”
  • Cook County erases nearly $665 million in medical debt for more than a half million residents

    06/06/2025 5:29:11 PM PDT · by ChicagoConservative27 · 22 replies
    Wbez ^ | 06/05/2025 | Kristen Schorsch
    Cook County has erased nearly $665 million in medical debt for local residents since launching the effort in 2022, according to new figures released Thursday. County leaders are celebrating the latest milestone of the program, which has so far helped almost 557,000 people have some of their debt abolished. The effort has relieved the most debt for people on Chicago’s South and West sides and in the south and west suburbs.The amount erased ranges from around $600 to $4,000 on average per person depending on where they live.
  • Elon Musk is Lashing Out at Trump’s ‘Big Beautiful Bill,’ But He’s Missing This Critical Point.

    06/06/2025 8:42:32 AM PDT · by SeekAndFind · 13 replies
    PULSE POINTS:❓What Happened: The Office of Management and Budget (OMB) says its analysis of President Donald J. Trump’s “One Big Beautiful Bill” finds the legislation introduces historic fiscal reforms, achieving $1.7 trillion in mandatory savings and reducing the deficit by $1.407 trillion. This analysis contradicts a fiscal score released by the Congressional Budget Office (CBO) that claims the bill would increase the deficit by $2.4 trillion.👥 Who’s Involved: President Donald J. Trump, the Congressional Budget Office (CBO), the Office of Management and Budget (OMB), OMB Director Russ Vought, Elon Musk, and the U.S. Congress.📍 Where & When: The OMB’s top-line...
  • How Countries Go Broke: The Big Cycle In a 5-Minute Read

    06/06/2025 8:35:06 AM PDT · by SeekAndFind · 2 replies
    Linkedin Principled Perspective ^ | 06/06/2025 | Ray Dalio, CIO Mentor, and Member of the Bridgewater Board
    Today my latest book, How Countries Go Broke: The Big Cycle , is being released. This note is to share what it says in a nutshell. To me, what matters most is conveying understanding at this critically important moment, so I want to pass the key ideas in extreme brevity in this note, as well as comprehensively in the book, and leave it to you decide how deep you want to go. Where I'm Coming FromI have been a global macro investor for over 50 years, have bet on government debt markets for nearly as long, and have done very...
  • MTG says again she will oppose Trump's Big Beautiful Bill over AI provision

    06/05/2025 4:05:43 PM PDT · by Its All Over Except ... · 25 replies
    FOX 5 Atlanta ^ | 6/5/2025 | Joyce Lupiani
    Rep. Marjorie Taylor Greene vows to oppose the One Big Beautiful Bill when it returns to the House if there are no changes made to the artificial intelligence provision. Greene says she was unaware of the AI provision when she first voted for the bill and now argues it would endanger state rights, risk job losses in her manufacturing-heavy district, and open the door to forced property seizures. Facing criticism for missing the provision, Greene defended her transparency, claiming no other lawmakers publicly flagged the AI clause and pledging to fight any future legislation that limits state authority over AI...
  • With friends like Elon, who needs enemies?

    06/05/2025 7:20:55 AM PDT · by SeekAndFind · 24 replies
    American Thinker ^ | 06/05/2025 | Noel S. Williams
    Smart people can be really dumb. Sometimes it’s preferable to just be brilliant, rather than genius. For the majority of us in the middle of the Bell Curve, being smart-enough is sufficient to be commonsense conservatives. Elon Musk is in the genius category, and comes with some of the hazards associated with a high IQ. Indeed, he is capable of stupidity, sometimes in business (Tesla Cybertruck “Armour glass” demonstration and overpaying for Twitter, are just two examples). And sometimes in politics, as evidenced by calling the big, beautiful bill (BBB) a “pork-filled, disgusting abomination.” As stark as that criticism is,...
  • Senate weighs Trump's 'big, beautiful bill' as policy group backs CBO, projects $3 trillion debt increase

    06/04/2025 10:26:15 PM PDT · by NoLibZone · 52 replies
    Fox ^ | By Louis Casiano
    CBO projects $3T added to debt from bill that tackles tax policy, border security, healthcare reforms President Donald Trump's "big, beautiful bill" is projected to increase the debt by $3 trillion, with interest, or $5 trillion if made permanent, according to estimates. An estimate of the House-passed bill by the nonpartisan Congressional Budget Office (CBO) projects it would add more than $2.4 trillion to primary deficits before interest over 10 years, according to the Committee for a Responsible Federal Budget (CRFB), a nonprofit public policy organization. As of Wednesday, the national debt, which measures what the U.S. owes its creditors,...
  • Trump Wants Debt Limit ‘Scrapped’ to Protect America from ‘Economic Catastrophe’

    06/04/2025 6:46:20 PM PDT · by ChicagoConservative27 · 84 replies
    Breitbart ^ | June 4th, 2025 | Nick Gilbertson
    President Donald Trump shared on Wednesday that he wants the debt limit “scrapped,” which Sen. Elizabeth Warren (D-MA) has also called for. Trump issued a statement on Truth Social Wednesday afternoon. “I am very pleased to announce that, after all of these years, I agree with Senator Elizabeth Warren on SOMETHING. The Debt Limit should be entirely scrapped to prevent an Economic catastrophe,” he wrote. “It is too devastating to be put in the hands of political people that may want to use it despite the horrendous effect it could have on our Country and, indirectly, even the World,” he...
  • Elon Musk Issues Social Security Warning Over Trump's Tax Bill

    06/04/2025 3:23:08 PM PDT · by Libloather · 59 replies
    Newsweek ^ | 6/04/25 | James Bickerton, Shane Croucher
    Elon Musk has warned "if the massive deficit spending continues," there will be no money for Social Security, health care or defense, as he continues opposition to President Donald Trump's "Big Beautiful Bill." The tech billionaire and former head of the Department of Government Efficiency (DOGE) made the comment about Trump's spending package on his Truth Social website in the early hours of June 4. Newsweek contacted Musk for comment via the SpaceX and Tesla press offices outside of regular office hours on Wednesday. Why It Matters The House narrowly passed Trump's budget package on May 22 in a 215-214...
  • Trump calls for scrapping debt limit

    06/04/2025 1:36:00 PM PDT · by RandFan · 60 replies
    The Hill ^ | 06/04/25 2:18 PM ET | by Alex Gangitano
    President Trump on Wednesday doubled down on calls to scrap the nation’s debt ceiling, pressing for bipartisan action to abolish it and finding common ground with Democrat Sen. Elizabeth Warren (Mass.). “I am very pleased to announce that, after all of these years, I agree with Senator Elizabeth Warren on SOMETHING. The Debt Limit should be entirely scrapped to prevent an Economic catastrophe. It is too devastating to be put in the hands of political people that may want to use it despite the horrendous effect it could have on our Country and, indirectly, even the World. As to Senator...
  • Musk torches Trump budget bill: "Disgusting abomination"

    06/03/2025 11:18:45 AM PDT · by zeestephen · 42 replies
    CNBC (Business Website) ^ | 03 June 2025 | Kevin Breuninger
    "Im sorry, but I just can't stand it anymore...This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination...Shame on those who voted for it: you know you did wrong. You know it."
  • It's Rand Paul and Elon Musk vs. Donald Trump Over the 'Big Beautiful Bill'

    06/03/2025 8:15:14 PM PDT · by RandFan · 43 replies
    Reason Magazine ^ | June 3 | Eric Boehm
    Paul said he refuses to support "maintaining Biden spending levels," and Musk said the Trump-backed tax bill is "a disgusting abomination."The intra-Republican fight over the future of a major tax and borrowing bill intensified on Tuesday, as President Donald Trump lashed out and former White House favorite Elon Musk offered a sharp criticism of the proposal. The whole thing played out, as today's political dramas so often do, in a series of posts on social media. Trump slammed Sen. Rand Paul (R–Ky.) in a Tuesday morning post on Truth Social that accused the senator of having "very little understanding" of...
  • ELON MUSK: I just can’t stand it anymore

    06/03/2025 10:46:53 AM PDT · by RandFan · 169 replies
    X ^ | June 3 | Elon Musk
    @elonmusk I’m sorry, but I just can’t stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it
  • Elon Musk attacks Trump's funding bill: 'Disgusting abomination'

    06/03/2025 12:19:04 PM PDT · by Mariner · 52 replies
    ABC News via Yahoo ^ | June 3rd, 2025 | IVAN PEREIRA
    Days after attacking a megabill that advances President Donald Trump's legislative agenda, Elon Musk slammed it again on Tuesday calling it a "disgusting abomination" in a post on X."I'm sorry, but I just can't stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination," Musk wrote of the House-passed bill. "Shame on those who voted for it: you know you did wrong. You know it."Musk followed up with another post claiming the bill "will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America citizens with crushingly unsustainable debt."