Federal debt, as a share of the economy, hit 98 percent in the 2020 fiscal year. Many economists are pushing lawmakers to add even more to it. By NYT – Jim Tankersley- September 2, 2020 WASHINGTON — A surge in government borrowing in the face of the pandemic recession has put the United States in a […]
“Rapid growth is no longer possible” and “inflation is not going to be tolerated” in societies with slow wage growth: head of central bank of Singapore. It has been said out loud. By Wolf Richter for WOLF STREET. September 15, 2020 The solution now to the enormously ballooning debts in developed economies: Firing up consumer price inflation and […]
Barrons – ECONOMY AND POLICY COMMENTARY Robert Hormats – Aug. 3, 2020 4:05 pm ET Virtually every government in the world has engaged in massive borrowing to address the medical costs of Covid-19 and the economic disruption it continues to inflict. The United States is no exception, as Congress considers spending well over a $1 […]
Much of the military spending in the GOP’s HEALS Act replaces funding that was redirected to pay for Trump’s border wall. REASON CHRISTIAN BRITSCHGI | 7.28.2020 5:40 PM The $1 trillion coronavirus relief package released by Senate Republicans this week includes billions of dollars for new weapons and defense projects that appear to have little to do […]
Yahoo Finance – Washington (AFP) – Ratings agency Fitch on Friday downgraded the outlook for the United States to negative from stable, warning of high debt and deficits made worse by the coronavirus downturn. “The outlook has been revised to negative to reflect the ongoing deterioration in the US public finances and the absence of […]
CPAs 100-Day March to Election Day CPAs to Educate Voters on Our Country’s Dire Financial Position NEWS PROVIDED BY U.S. Debt Forum Jul 28, 2020, 08:33 ET SLEEPY HOLLOW, N.Y., July 28, 2020 /PRNewswire/ — Presidential candidates have commenced their 100-day march to election day. The U.S. Debt Forum has also commenced its 100-day march to educate voters […]
Andie Corban and Kai Ryssdal Jun 17, 2020 Heard on: Marketplace Congress has passed more than $3 trillion in coronavirus-related relief legislation, and Senate Majority Leader Mitch McConnell has said he’s looking into another bill. Part of the conversation is about what more government spending could mean for the national debt. Here’s what you need to know about how […]
Wall Street on Parade By Pam Martens and Russ Martens: May 29, 2020 ~ On May 29, 2019, the Federal Reserve’s balance sheet stood at $3.9 trillion. As of this past Wednesday, May 27, 2020, the Fed’s balance sheet had skyrocketed to $7.145 trillion, an increase of 83 percent in one year’s time. But the explosion in […]
Peter G. Peterson Foundation JUNE 5, 2020 There are three widely used measures of federal debt: debt held by the public, gross federal debt, and debt subject to limit. What are the important differences between those measurements? DEBT HELD BY THE PUBLIC Debt held by the public is the amount that the U.S. Treasury has […]
The Washington Post By Robert J. Samuelson, Columnist May 10, 2020 at 3:40 p.m. EDT The U.S. Treasury is planning to borrow almost $3 trillion during the second quarter (April to June) of 2020, a figure astounding in its size and implications. About $800 billion of that sum is designated as a financial reserve. If you were told that some […]
