U.S. Senator Joni Ernst, R-Iowa, is leading a new effort to limit the total amount of national debt owed to foreign governments, entities, and individuals. WASHINGTON – With the national debt hurdling over $30 trillion—and America’s total foreign-owned national debt exceeding $7.7 trillion – U.S. Senator Joni Ernst, R-Iowa, is leading a new effort to limit the […]
Broken fiscal and monetary policies are part of a single pathology. We need to tackle them both. The U.S. is trapped in a vortex of money mischief and fiscal folly. The problem is bad federal policy. Without binding rules on irresponsible spending and money-printing, American households and businesses will continue to suffer. Since the onset of […]
The country lacks a critical mass of citizens disposed to support the hard decisions that would enable America to rein in its national debt. For one brief moment in the news cycle, the size of America’s national debt was back in the public eye. Alas, while the Treasury Department’s January announcement that America’s total public debt had passed the $30 […]
U.S. Rep. Jim Hagedorn (MN-01) on Friday introduced a resolution that will direct the Clerk of the House to place a national debt clock in the House Chamber. Its display will provide more transparency to the American people and serve as a reminder to lawmakers as they vote on proposals that will increase the national […]
Most economists have trouble understanding why too much debt may harm an economy, let alone how much debt counts as too much. To make matters worse, the common practice of comparing vastly different countries’ debt-to-GDP levels is not a useful Global debt, according to a recent report by the Institute for International Finance, amounted to nearly $300 […]
WASHINGTON, D.C. — Ahead of March 11th’s government funding deadline, U.S. Representatives Scott Peters (D-CA-52) and Jodey Arrington (R-TX-19) led 22 of their colleagues in a bipartisan letter to Speaker Nancy Pelosi and Minority Leader Kevin McCarthy, calling on House Leadership to get Congress’ fiscal house in order while crafting a new spending package for Fiscal Year 2022. “As we work […]
News flash from Washington: Congress is rushing to pass a bill it hasn’t read, full of earmarks and special favors for campaign donors. Where have we heard that before? Congress should use the omnibus to vacuum up its unnecessary spending, to control both our national debt and runaway inflation. Yeah, right. The House introduced the omnibus […]
There are five instances of the Treasury defaulting on the debt. Whenever the debate over raising the debt ceiling becomes heated, officials and pundits tell us the federal government has never defaulted on its debt. Unfortunately, this statement is demonstrably false. Evidence of these payment failures can be found in reputable academic and government publications. […]
The Build Back Better Act’s marquee provisions have been the focus, but Democrats have swept dozens of obscure measures and special interest breaks into the $1.85 trillion bill. The Democrats’ bill contains a $4.1 billion tax break for electric bicycle buyers, subsidizing 30 percent of the cost, up to $900, to help “put butts […]
The U.S. national debt exceeded $28 trillion in 2021.1 One thing that many people may not know is that the Social Security Trust Fund owns a significant portion of that national debt. So how does that work and what does it mean? Below we’ll dive into who actually owns the U.S. national debt and how that […]
