(The Center Square) – The U.S. national debt is closer to $123 trillion, more than four times what the Treasury Department is reporting, Chicago-based Truth in Accounting calculates in its new annual analysis of the nation’s finances. The federal government has $5.95 trillion in assets and $129.06 trillion worth of bills resulting in a $123.11 […]
Senate Republicans dramatically changed their party rules to take a hard line on the debt limit in the coming months. Democrats don’t care. In fact, the Democratic majority says it has no intention of negotiating with Republicans bent on slashing spending as a condition for avoiding default after the July 31 deadline. Democrats say they […]
The numbers: The U.S. federal budget deficit widened to a record $1.9 trillion in the first seven months of the fiscal year, the Treasury Department said Wednesday. This is up from a $1.5 trillion deficit over the same period last year. Spending was higher as the government continued to support Americans impacted by the pandemic. The […]
Craziness abounds… astonishing government spending and debt… how our analysts will help you navigate “What the Bleep is Going On?” this week We begin today’s Digest by jumping straight into a piece written by our CEO, Brian Hunt. I (Jeff) will circle back later. But for now, here’s Brian… ***“What the bleep is going on?” If you’ve […]
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 seem real. Well, that’s the size of the U.S. national debt, or […]
I hear the Republicans in the House and Senate suddenly realizing the United States has a deficit when the Green New Deal is mentioned. So let’s have a discussion about deficits. The entire debt of the U.S. from its inception in 1776 until Jan. 20, 1981, was $800 billion. That included the cost of the […]
The US is in uncharted debt territory. That should worry us. President Biden on Wednesday pitched a new plan to Americans before a joint session of Congress: more spending. The just-released $1.8 trillion plan, presented just weeks after Biden signed a $1.9 trillion in COVID relief spending into law, includes “free” community college as well as […]
Some economic theories support an increase in debt levels to stimulate an economy, but more debt is not without risk. The U.S. national debt has been rising at a seemingly unsustainable rate throughout the COVID-19 pandemic and the subsequent economic downturn. As of February, the U.S. debt reached over $27.8 trillion, which is 105% of […]
Do you know our national debt stands at $28 trillion today? It will grow by another whopping $1.9 trillion later this year after the COVID-19 relief bill is taken into account. It will grow by another $2 trillion to $3 trillion — to an almost unfathomable $33 trillion— once Congress passes the infrastructure bill currently […]
The U.S. national debt is rising at a pace never seen in the history of America. With a current debt exceeding $28 trillion – an increase of nearly $5 trillion in 14 short months, Washington is now debating an infrastructure bill with a price tag close to $2 trillion. Even without this additional spending, the […]
