Month: March 2021

Fed is financing largest US deficit since WWII

Asia Times  – How long can the debt keep growing before US goes bankrupt? The US has the largest deficit since World War II at 16% of GDP, and the Federal Reserve is financing virtually all of it, with a small contribution from financial corporations (mainly banks). Foreign purchases of US debt (the green area labeled […]

Rep. Chris Stewart proposes plan to address national debt

SALT LAKE CITY (KUTV) — Rep. Chris Stewart introduced the Debt Control Through Budget Reconciliation Act of 2021 earlier this week. The legislation that amends the Congressional Budget and Impoundment Control Act of 1974 establishes annual debt-to-GDP targets. These targets would gradually reduce the public debt over the next 30 years to approximately 50% of GDP (the average annual debt-to-GDP […]