Month: February 2021

The Federal Reserve Is Financing Future Debt Problems 

The Fed’s creative accounting combined with profligate federal spending won’t end the pain for Americans. Wall Street Journal – Opinion – Feb. 28, 2021 12:44 pm ET Economists John Greenwood and Steve H. Hanke ably sound the alarm in “The Money Boom Is Already Here” (op-ed, Feb. 22). Too many have looked away as the […]

Can Republicans and Democrats finally address the national debt? – Opinion

Perhaps the most surprising outcome of the 2020 elections is the narrowness of the governing margins in Congress. While Joe Biden was expected by most observers to be the next president, it was unexpected to many that Republicans narrowed the gap in the House. The Senate, meanwhile, has the narrowest margin possible (a 50-50 split […]

US debt soars to $29 trillion, owes India $216 billion

INDIA NEWS:  In 2020, the US national debt was USD 23.4 trillion, that was USD 72,309 in debt per person. The US, the world’s largest economy, owes India USD 216 billion in loan as the country’s debt grows to a record USD 29 trillion, an American lawmaker has said, cautioning the leadership against galloping foreign […]

National Debt and Deficit — What Is It and How Does It Affect Me?

Yahoo Finance Andrew Lisa Thu, February 25, 2021, 12:05 PM·4 min read In a world where most people live their whole lives without ever seeing more than a few thousand dollars in the same place at the same time, $28 trillion is an incomprehensible sum. It’s such a ridiculously huge number that it doesn’t even […]

Opinion: Unprecedented, untargeted spending is not necessarily a stimulus

Opinion by George F. Will Washington Post Columnist Feb. 26, 2021 at 7:00 a.m. EST When Andrew Jackson became president in 1829, the national debt was $58.4 million, and Old Hickory was as frugal as he was disagreeable — very — so his Treasury Department announced that on Jan. 1, 1835, the debt would be zero. Almost: It was $33,733.05. In today’s […]

Economists Warn We Can’t Keep Ignoring the National Debt  Forever

Economists interviewed by FEE warned that when the dust settles after COVID-19, we’ll still have a major problem on our hands. With COVID-19 ravaging the country and government pandemic lockdowns devastating our economy, the national debt has understandably slipped to the back of many Americans’ minds. But the federal government continues to fall deeper into […]

The National Debt Makes our Inequality Problem Worse | Opinion

For many Americans, the national debt—now approaching $30 trillion—is an afterthought that must always take a backseat to the social and economic problems of the day. Now, it’s the COVID-19 pandemic and recovery. Before that, it was the 2008 recession. Before that, wars in Iraq and Afghanistan. While people are suffering, who can be so callous as […]

Rep. Stewart proposed plan to address national debt

Today, Congressman Chris Stewart (UT-02) introduced the Debt Control Through Budget Reconciliation Act of 2021. This legislation establishes annual debt-to-GDP targets that would gradually reduce the public debt over the next 30 years to approximately 50 percent of GDP (the average annual debt-to-GDP level over the past 30 years). The CBO projects that the nation’s debt to GDP ratio […]

Deep Dive: US debt hits 100% of GDP. Should the credit markets care?

The nonpartisan Congressional Budget Office recently released its publication, The Budget and Economic Outlook: 2021 to 2031, highlighting that during 2020 the U.S. national debt held by the public rose to 100% of GDP for the first time since the end of the Second World War. Will such high levels of U.S. debt, so worrisome in […]

CBO: U.S. National Debt To Hit $30T, Exceed Size Of U.S. Economy This Year

The U.S. is nearing a fiscal meltdown amid a rising national debt and federal spending due to coronavirus lockdowns. The Congressional Budget Office said the national debt is on track to exceed the size of the U.S. economy this year. This may result in an even higher interest to be paid on the existing U.S. […]