"Just last month the Congressional Budget Office warned Americans that debt held by the public is on its way to a new record share of the economy in three years. The deficit will be nearly $2 trillion this year and nearly $3 trillion in ten years," Maya MacGuineas, president of the no...
"Just last month the Congressional Budget Office warned Americans that debt held by the public is on its way to a new record share of the economy in three years. The deficit will be nearly $2 trillion this year and nearly $3 trillion in ten years," Maya MacGuineas, president of the no...
As Congress prepares for another debt-limit standoff, a look into the past — at the 10 such deadlines lawmakers have confronted over the last 13 years — offers three shared truths. Those same commonalities apply despite the wildly different outcomes of previous skirmishes. The first: House Re...
The US national debt surpassed$31 trillion for the first time amid higher interest rates at the beginning of this month,as the US Treasury Department's daily treasury statement was released.The US Congress passed legislation in December last year to raise the debt limit to$31.4 trillion.The P...
The colossal debt has drawn fresh warnings from within the U.S. “We are going to have to get serious about the debt, and soon. Election years cannot be an exception for trying to prevent completely foreseeable dangers — and the debt is one of the major dangers we are facing,” Maya ...
Households depleted their pandemic-era excess savings in March of this year,7 and thus gains in consumer spending in the short term are expected to be driven by growing income and the ability of households to add new debt. Household debt continued to rise, increasing by US$147 billion in th...
America’s debt pile and the case for tax cuts will be flashpoints inside the new administration Nippon Steel Art of the steel: Can Japan’s Nippon close a $15bn deal before Trump returns? Washington will soon rule on tie-up that will have sweeping implications for America’s rustbelt ...
holds that "deficits don't matter".This is why the debt ceiling drama always ends the same way: after weeks of brinkmanship and partisan bickering, a last-minute deal is reached to raise the debt ceiling, allowing the administration to re-indulge in overspending for two additional years. ...
With the Fed having raised interest rates by 150 basis points this year to a range between 1.5 percent and 1.75 percent, the yield on 10-year US Treasury bonds has risen to about 3.01 percent as of Tuesday, significantly higher than 1.52 percent seen at the end of last year, market track...
"The increase in debt over the last 20 years was overwhelmingly driven by the trillions spent on Republican tax cuts skewed to the wealthy and big corporations," Michael Kikukawa, White House assistant press secretary, said in a statement provided to FOX Business. "Congressional Republicans want ...