Category: Uncategorized

Haley blasts both Democrats and fellow Republicans, including Trump, over exploding national debt

‘Republicans and Democrats … always seem to work just fine when they’re spending your money,’ Haley said PALM BEACH, Fla. – Nikki Haley blamed President Biden and Democrats as well as also her one-time boss and current rival for the 2024 Republican presidential nomination, former President Donald Trump, over massive government spending. In a speech Saturday to […]

Biden says he cut national debt by $1.7T — when he actually increased it by $3.84T

President Biden wrongly claimed Tuesday that he slashed the national debt by $1.7 trillion — despite increasing it by about $3.84 trillion over his first two years in office. The 80-year-old president made the error — apparently as a result of confusing the terms “debt” and “deficit” — while bashing House Republicans as irresponsible for demanding […]

This Is Why Government Debt Is Actually Important

It wasn’t so long ago that some experts said not to worry about government debt, that a country like the U.S. with debt in its own currency had little concern. That was the Modern Monetary Theory (MMT) take, at least. An economic thesis for a reality that included social issues, politics, and the messy emotional […]

Biden’s Deficit Spin

In recent speeches, President Joe Biden has been misleadingly taking credit for cutting federal deficits by historic amounts, though most of the reduction in deficits is the result of expiring emergency pandemic spending. Deficits fell between fiscal year 2020 and 2021 far less than initially projected after Biden added to them with more emergency pandemic […]

Article misled by confusing national debt with the budget deficit

  The May 5 article on federal deficits and debt (“Biden will continue to reduce deficit, he says”) had a glaring mistake in its opening sentence. Washington Post reporter Eugene Scott wrote in the article The Plain Dealer reprinted that the Biden administration will be “paying down the debt for the first time in six […]

The National Debt Was a Lot Smaller the Last Time Inflation Was This Bad

The crab bisque index is flashing a warning signal for Real Money Columnist Jonathan Heller. Real Money Columnist Jonathan Heller has been looking back to the 1970s to gain some perspective of rising inflation rates these days. He’s using some familiar consumer products to take the measure of rising prices. “Recently, I have been served […]

Could inflation be a good thing for governments in debt?

Here’s one fact about inflation – it reduces the real value of debt. So in these times of historic high inflation, our colleagues Adrian Ma and Wailin Wong over at The Indicator From Planet Money wanted to explore if inflation can be a good thing for borrowers, specifically those big borrowers, national governments. WAILIN WONG, […]

Canceling Student Debt Isn’t Free. Here’s Who Pays For It

With President Joe Biden considering canceling up to $10,000 in federal student loans per borrower, a long sought after policy dream for millions of Americans who struggled with years of repayment could become a reality. But student loan cancellation isn’t a magic wand that makes those loans disappear—they’ll have to be paid for somehow. But the […]

How the covid-19 pandemic affected national debts

This is the full transcript for episode 2 of season 3 of the Quartz Obsession podcast, National debt: Acceptable imbalance. Kira Bindrim: You could be forgiven for thinking that hanging onto debt, any debt, is a bad thing. When people go into debt, like many do to attend college, make major purchases, or put a down payment on a home, they’re often […]

Despite Raging Inflation, Congress Bent on Continuing Spending Spree

KEY TAKEAWAYS Real wages are down 4.5% since President Joe Biden took office, and inflation is hitting all 50 states. Despite the damage that inflation is doing to working families across the country, Biden is calling for even bigger spending increases. Congress has repeatedly added to the national debt as a way to avoid making tough choices. The debt […]