On Sunday evening local time, Tesla CEO Musk commented on America's growing debt burden, saying “the growth of US Treasury bonds is unsustainable.” Musk was responding to a post from an X user who wrote, “Interest on US debt so far this fiscal year has exceeded US$357 billion, an ...
Beijing has sold $53.3 billion in US securities, according to Treasury Department data May 20, 2024 15:17 Drowning in debt: The paralysis at the heart of the US fiscal crisisANALYSIS Washington is doing nothing about its deteriorating finances because there is nothing it can do without risking...
(CNN) — The US government recorded a deficit of $85 billion in December, bringing the total deficit to nearly $1.42 trillion for the 2022 calendar year, the Treasury Department reported Thursday. The government, which runs on a fiscal year that starts in October, is running a deficit of ...
The yield on the 10-year US Treasury bond again increased above 5 percent on Monday, hitting a new high since July 2007 - just before the start of the 2007/08 financial crisis. Another crisis is brewing amid mounting worries over expanding US debt, and this concern has become a hotly dis...
The US budget deficit exceeded $1.5 trillion with two months to go until the end of the fiscal year, down slightly on 2023 though vastly larger than pre-pandemic times. The $1.52 trillion gap for the 10 months through July was down 6% from the same period last year, T...
All this is a reminder that, a year into this war, condemnation of Russia is far from unanimous. Much of the global south actually sees the West’s focus on Ukraine as a distraction from other, more pressing issues like food security, inflation and mounting debt. Analysts and political scie...
American government expenditures hit the debt ceiling earlier this year, and the Treasury says that in June, it will no longer be able to pay for government spending already authorized by Congress. Congress is responsible for approving all spending, and the president cannot spend money by himself...
American government expenditures hit the debt ceiling earlier this year,and the Treasury says that in June,it will no longer be able to pay for government spending already authorized by Congress.Congress is responsible for approving all spending,and the president cannot spend money by himself.U.S....
It is hoped that the US administration will not take its own economy and credit rating lightly, considering that US Treasury Secretary Janet Yellen has said the US has "no good reason to generate a crisis of our own making". But what is the debt ceiling? A system unique to the US, the...
A fiscal fight is brewing in the court of Donald Trump America’s debt pile and the case for tax cuts will be flashpoints inside the new administration Friday, 20 December, 2024 Nippon Steel Art of the steel: Can Japan’s Nippon close a $15bn deal before Trump returns?