Powell: U.S. debt is ‘on unsustainable path,’ crimping ability to respond to recession Paul Davidson USA TODAY – November 13, 2019 Fed to Congress: It may soon be your turn to save the economy, so get your finances in better shape. Federal Reserve Chairman Jerome Powell warned lawmakers Wednesday that the ballooning federal debt could hamper […]
Investors face bleak returns for the next decade London (CNN Business)Happy Monday. A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. Over the next decade, low growth, low inflation and low yields could push returns for the classic US portfolio — […]
Nov 1, 2019 At $23 trillion and rising, the national debt threatens America’s economic future. Here are the top ten reasons why the national debt matters. The return of trillion dollar deficits. The budget deficit was $984 billion in 2019, according to the Department of the Treasury. The Congressional Budget Office (CBO) projects that deficits will […]
THE HILL, BY NIV ELIS – 11/01/19 04:36 PM EDT The federal government’s outstanding public debt has surpassed $23 trillion for the first time in history, according to data from the Treasury Department released on Friday. Growing budget deficits have added to the nation’s debt at a speedy rate since President Trump took office. The debt has grown some 16 percent since […]
Mitchell Nemeth – Foundation for Economic Education, September 17, 2019 There is hesitation among the political class as to what must be done to pay down and eliminate this debt. At around $22.5 trillion, the United States national debt sits at 106 percent of Gross Domestic Product (GDP). There is no disputing that this gigantic […]
CBO today released its report – Budget and Economic Outlook for 2019 to 2029 and a visual summary A Visual Summary of The Budget and Economic Outlook: 2019 to 2029. As expected, it’s not good in the short, medium, and long-term. And, it is getting worse! It’s easy to get lost in the numbers and amount of […]
NYT Opinion Columnist, David Leonhardt, wrote an article pointing out: “For Americans under the age of 40, the 21st century has resembled one long recession. I realize that may sound like an exaggeration, given that the economy has now been growing for almost a decade. Their incomes are flat. Their wealth is down. And Washington […]
Government Officials’ Mismanagement may have prevented 9/11. Their post 9/11 solution – Waste $Billions. NSA’s decision to scrap its inexpensive, in-house developed, and operational computer program THINTHREAD, which may have prevented 9/11 in favor of a plan to build a consultant driven, outsourced solution wasted billions of borrowed dollars and was subsequently scrapped. Who managed […]
Government debt hits record $66 trillion, 80% of global GDP, Fitch says Jeff Cox| @JeffCoxCNBCcom A 1/23/19 CNBC article offers key points on global government debt. Following are some noted points from the article: Government debt hit $66 trillion through the end of 2018, or about 80 percent of global GDP, according to Fitch Ratings. […]
The other reason for China’s slowdown: Debt From CNN Business’ Chris Isidore (1/24/19) Much of the discussion about the slowdown in China’s economy has focused on the growing trade dispute between China and the United States. But not enough attention has been paid to deliberate decision by the Chinese government to cut back on its […]
