BREAKING: Total US debt hits $34 trillion for the first time in history, putting US debt up 100% since 2014. Since the debt ceiling "crisis" ended in June 2023, total US debt is up nearly $3 trillion. This debt balance is more than the value of the economies of China, Germany,...
Debt ceiling crisisAs the June 1 deadline looms with the possibility the U.S. could run out of money to pay bills, Republicans are demanding spending cuts.Allison Bailey/NurPhoto via Shutterstock The federal government's record-high national debt is set to get even bigger, re...
but the US House of Representatives voted to suspend the US' debt ceiling through to 2025, avoiding federal default at the last minute and sending the bill to the Senate. The US' internal political game can have grave consequences for the world economy...
Fed funds futures traders are pricing in a pause before expected rate cuts in September. The Fed's target range stands at 5% to 5.25%. Button believes it is far too soon to start talking about rate cuts. "I think the market is ready to move past the inflation narrative. But what the ...
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...
It looks like the United States is headed toward another highwire debt-ceiling act, with a report by the nonpartisan Congressional Budget Office released on Wednesday projecting a summertime default if the debt limit isn't raised.
New debt deal reveals US addiction to war U.S. President Biden signed the Fiscal Responsibility Act on June 2, 2023, officially ending the debt crisis – for now. The act agrees to restrict spending on civilian duties in exchange for a suspension of the debt ceiling. However, the act's ...
It notes that they also insisted that the sacrifice demanded in the name of fiscal responsibility include sharing of sacrifice by the well-to-do in coming years.FilteauJerryNational Catholic Reporter
"We must stay alert to the possibility of a US financial crisis, or even an economic crisis stemming from its rising debt," Song said. Ma Wei, a research fellow at the Institute of American Studies under the Chinese Academy of Social Sciences, told the Global Times on Tuesday that growing...
During the 2008 financial crisis, both Fannie Mae and Freddie Mac approached bankruptcy caused by the collapse in payments from subprime mortgages which were underwritten by these two institutions. As a result, theUS governmenttook both institutions into “conservatorship,” which gave these debts a ...