Most GOP backers of a resolution to declare the national debt a ‘national security threat’ also backed Donald Trump’s tax cuts. Rep. Andy Biggs (R-AZ) wants Congress to declare the U.S. national debt a “threat to the national security of the United States” and to commit to “addressing the fiscal crisis.” But he and most […]
London (CNN Business)Central banks were the superheroes of the early phase of the pandemic, taking dramatic steps to save the economy and financial markets from ruin. Now, as the recovery kicks into gear, they’ve become a major risk for investors. What’s happening: The latest reading of the Back-to-Normal Index from CNN Business shows that the US economy’s comeback is […]
Earlier this week, President Joseph R. Biden Jr. asked Congress to raise taxes and increase borrowing so his administration can spend $2.3 trillion — on top of the $1.9 trillion Congress authorized two months ago for so-called COVID relief — for thousands of projects he calls “infrastructure.” All this is in addition to the $2 […]
As a former governor and a former state treasurer, we know what it takes to balance a budget By Rick Scott, Sen. Cynthia Lummis | Fox News With our national debt nearing a staggering $30 trillion, one would think that President Joe Biden would be ready to take a hard look at our spending and find ways to reduce […]
U.S. Senators Chris Van Hollen (D-Md.), Brian Schatz (D-Hawaii), Michael Bennet (D-Colo.), and U.S. Representative Bill Foster (D-Ill.) introduced legislation to repeal the national debt ceiling, an arbitrary limit set by Congress on the amount of funding that the United States Treasury may borrow. “When partisan politics raises the specter of defaulting on Treasury bonds, […]
\When I grew up in the 1970s, my father taught my sisters and me to “always save for a rainy day.” He was a child of the Depression, after all, one of the longest “rainy day” periods Americans have ever experienced. In 2021, however, America’s new national mantra appears to be “borrow and spend like […]
The May 1 letter to the editor “Opinions should be based on facts” reminds me of the saying “dishonest people make biased arguments while pretending it’s objective truth.” How much each American president contributed to the national debt can be easily confirmed by simply googling “how much did the national debt grow under each president,” […]
Americans are running up against Monday’s deadline to file their taxes — a month late in this pandemic year — and leaders in Washington have designs on spending even more taxpayer money going forward. Most of the $3.5 trillion the government brings in — about $1.9 trillion — is from you and people like you, in the […]
(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 […]
