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U.S. Debt Crisis Comes into View as Fed’s Balance Sheet Explodes Past $7 Trillion

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 […]

HOW MUCH IS THE NATIONAL DEBT? WHAT ARE THE DIFFERENT MEASURES USED?

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 national debt is out of control

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 […]

Senate passes $484 billion bill that would expand small-business aid, boost money for hospitals and testing

Senate passes $484 billion bill that would expand small-business aid, boost money for hospitals and testing The House plans to vote on the measure Thursday. It would replenish the Paycheck Protection Program, which was overrun with applications. Senate Minority Leader Charles E. Schumer (D-N.Y.) called the new legislation “an interim measure” and “a building block,” […]

Senate passes a $484 billion relief package for small businesses and hospitals.

Senate passes a $484 billion relief package for small businesses and hospitals. NYT – April 21, 2020 Video TRANSCRIPT 0:00/1:20 ‘A Stunning Amount Of Money’: Senate Passes Additional Relief Fund The U.S. Senate on Tuesday unanimously passed legislation providing $484 billion in additional federal aid to help small businesses hurt by the coronavirus pandemic. We […]

How Much Can America Spend on the Coronavirus Pandemic?

How Much Can America Spend on the Coronavirus Pandemic? Despite staggering coronavirus-relief outlays in the trillions of dollars, analysts widely believe long-term debt burdens are a better alternative to short-term economic collapse. By Andrew Soergel, Senior Writer, Economics April 21, 2020, at 2:21 p.m. The U.S. government has funneled trillions of dollars into keeping the economy afloat […]

Congress reaches deal on $450 billion package to help small businesses, sources say

Congress reaches deal on $450 billion package to help small businesses, sources say   By Manu Raju and Clare Foran, CNN Updated 12:53 PM ET, Tue April 21, 2020 Congressional negotiations have reached a deal on a bill that includes hundreds of billions of dollars in new funding for small businesses hurt by the coronavirus outbreak, three sources […]

Get ready for wartime levels of national debt and tough choices ahead

Get ready for wartime levels of national debt and tough choices ahead Analysis by Charles Riley, CNN Business – Updated 7:29 AM ET, Fri April 3, 2020 London (CNN Business)Governments are launching one rescue package after another in hopes of preventing economic catastrophe as the coronavirus pandemic rampages around the world, shutting down entire industries and costing tens of […]

Will There Be More Coronavirus Stimulus Checks?

Opinion Will There Be More Coronavirus Stimulus Checks? Members of Congress are already talking about the next relief package. What should be in it? By Spencer Bokat-Lindell Mr. Bokat-Lindell is a writer in the Opinion section.  April 16, 2020 This article is part of the Debatable newsletter. You can sign up here to receive it Tuesdays and Thursdays. The […]

Trump, Congress near deal for more small-business money, trying to work through last-minute snags

Trump, Congress near deal for more small-business money, trying to work through last-minute snags By Washington Post  Erica Werner  April 21, 2020 at 5:56 a.m. EDT The White House and Congress on Monday tried to design another giant bailout package aimed at combating the coronavirus pandemic’s economic and health fallout, scrambling to resolve last-minute snags over loan access […]