Category: Uncategorized

31Jan Published Articles, Uncategorized Comments Off on President Donald Trump promised to reduce the national debt but instead increased it. It is now at its highest level relative to the U.S. economy since the end of World War II. 

President Donald Trump promised to reduce the national debt but instead increased it. It is now at its highest level relative to the U.S. economy since the end of World War II. 

President Donald Trump promised to reduce the national debt but instead increased it. It is now at its highest level relative to the U.S. economy since the end of World War II.  ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published.  This story was […]

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31Jan Published Articles, Uncategorized Comments Off on Do Republicans still have moral authority to warn about the national debt?

Do Republicans still have moral authority to warn about the national debt?

Do Republicans still have moral authority to warn about the national debt? Desert News – By Jay Evensen, Columnist  Jan 28, 2021, 9:20am MST As I’ve said before, the Old Testament would read a lot differently if Joseph, having been summoned from prison by a Pharaoh who was troubled by dreams, had acted like today’s politicians in […]

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22Oct Published Articles, Uncategorized Comments Off on Both Trump And Biden Plans Would Pile On National Debt, But Trump A Little Less

Both Trump And Biden Plans Would Pile On National Debt, But Trump A Little Less

Forbes, Sarah Hansen October 7, 2020   TOPLINE In a new analysis of President Trump’s and former Vice President Joe Biden’s campaign policy proposals, the Committee for a Responsible Federal Budget found that a Biden presidency would add $5.6 trillion to the national debt over ten years while a Trump presidency would add just under $5 trillion. […]

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7Oct Published Articles, Uncategorized Comments Off on A U.S. Debt Crisis: From Denial to Reality

A U.S. Debt Crisis: From Denial to Reality

On September 21st, the Congressional Budget Office released a long-term outlook on government debt. In a dire warning the CBO projects that in 2050 the debt will equal 195 percent of GDP. A debt explosion of this magnitude should rightfully send shivers through the country. This is a mounting national crisis that transcends party lines […]

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6Oct Uncategorized Comments Off on U.S. government debt will nearly equal the size of the entire economy for first time since World War II, CBO finds

U.S. government debt will nearly equal the size of the entire economy for first time since World War II, CBO finds

Report comes after huge increase in the deficit this year as government attempted to limit coronavirus fallout By Jeff Stein, Washington Post – September 2, 2020 at 3:15 p.m. MDT For the first time since World War II, the U.S. government’s debt will roughly equal the size of the entire American economy by the end of […]

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6Oct Uncategorized Comments Off on Federal Borrowing Amid Pandemic Puts U.S. Debt on Path to Exceed World War II

Federal Borrowing Amid Pandemic Puts U.S. Debt on Path to Exceed World War II

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 […]

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16Sep Uncategorized Comments Off on Why the Hoped-for Solution to Out-of-Control Government Debts Won’t Work This Time

Why the Hoped-for Solution to Out-of-Control Government Debts Won’t Work This Time

“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 […]

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6Aug Uncategorized Comments Off on America Needs to Talk About Its Debt Problem

America Needs to Talk About Its Debt Problem

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 […]

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3Aug Uncategorized Comments Off on Senate Republicans’ $1 Trillion COVID-19 Relief Bill Includes Billions for New Fighter Jets, Attack Helicopters, and Missiles

Senate Republicans’ $1 Trillion COVID-19 Relief Bill Includes Billions for New Fighter Jets, Attack Helicopters, and Missiles

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 […]

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1Aug Uncategorized Comments Off on Fitch downgrades US outlook to negative from stable

Fitch downgrades US outlook to negative from stable

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 […]

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