US National Debt

Vertigo3d/iStock/Getty Images Plus The federal government is now spending more to pay interest on the government’s gross debt of $33 trillion than it does on national defense, according to the U.S. Treasury’s monthly statement.  The reported data totaled government receipts and outlays for fiscal year 2023 through August, noting that over $807 billion has been spent in interest on the nation’s...

David Biesack/flickr Niccolò Machiavelli, the renowned Italian diplomat, philosopher, and writer of The Prince and Discourses on Livy is perhaps not the first name that comes to mind when discussing economics. However, his works contain invaluable insights into governance, power, and the economic stability of commonwealths. In particular, Machiavelli’s warnings against national debt and the expansion of entitlement programs offer...

DNY59/iStock/Getty Images Plus The opening remarks by Federal Reserve Chairman Jerome Powell at Jackson Hole on Friday put Wall Street back to sleep. He said that the Fed is “prepared to raise rates further if appropriate.” That signaled market watchers that the rise in stocks since March will likely continue. The benchmark S&P 500 Index has leapt 15 percent in...

Thomas Jefferson was the third president of the United States of America. He is the main author of the Declaration of Independence. He also secured the Louisiana purchase. This man is none other than Thomas Jefferson. Thomas Jefferson was born on April 13 1743. His father was named Peter Jefferson. Thomas’s mother was called Jane Randolph. Another really interesting thing...

AP Images Steve Womack Multiple Republican chairmen of the 12 House Appropriations subcommittees are voicing frustration about conservatives’ demands to reduce federal spending in the pending fiscal 2024 appropriations bills. Congress is currently working to draft and pass its fiscal 2024 appropriations bills, which must be passed before September 30 to avoid a partial government shutdown. On the House side, one appropriations...

This article was written by Brandon Smith and originally published at Birch Gold Group Perhaps one of the most bizarre recent developments in economic news has been the attempt by establishment media (and the White House) to declare US inflation “defeated” despite all the facts to the contrary. Keep in mind that when these people talk about inflation, they are only...

This article was written by Brandon Smith and originally published at Birch Gold Group Perhaps one of the most bizarre recent developments in economic news has been the attempt by establishment media (and the White House) to declare US inflation “defeated” despite all the facts to the contrary. Keep in mind that when these people talk about inflation, they are only...

Education Secretary Miguel Cardona said on Monday that the department will continue to extend support for student loan holders and look for ways to provide more relief for existing borrowers, two weeks after the Supreme Court struck down a government attempt to forgive millions of such loans. “The goal is to be able to pay what you can afford. Right...

A policy of economic growth that is causing doubt. It was not meant as a compliment when a pink-and-white business newspaper introduced the term “Bidenomics,” a fusion of the words “Biden” and “economics.” The journalists criticized the economic policy of the president whom they hold responsible for excessive inflation, an overheated job market and bloated national debt. However, Joe Biden...

Veronique de Rugy Election season is getting into gear, and that means politicians of all stripes making promises about what they’ll do for the American people if elected or reelected. I’d like to hear promises to get government out of the way and allow entrepreneurship and market competition to spur genuine and sustainable economic growth, including in the energy and...

Ron Paul The political and financial class breathed a sigh of relief when Congress passed the Fiscal Responsibility Act of 2023. The bill suspends the debt ceiling for two years, thus avoiding the establishment’s nightmare of a government default on its debt. Rather, it allows the government to continue adding trillions of dollars of debt that will be monetized by...

Published in Izvestia (Russia) on 23 May 2023 by Andrei Frolov Translated from Russian by Nikita Gubankov. Edited by Patricia Simoni. Posted on May 30, 2023. *Editor’s note: On March 4, 2022, Russia enacted a law that criminalizes public opposition to, or independent news reporting about, the war in Ukraine. The law makes it a crime to call the war...

The U.S. debt ceiling agreement established by President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) during the Memorial Day long weekend cleared a critical hurdle that will allow House lawmakers to vote on the deal. The House Rules Committee passed it with a vote of 7 to 6, advancing the debt limit bill—the Fiscal Responsibility Act—to the congressional floor...

The United States will still be “careening towards bankruptcy” after President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) reached an agreement to raise the debt ceiling by $4 trillion, says Gov. Ron DeSantis (R-Fl.) in a new interview. The 2024 presidential candidate appeared on “Fox & Friends” on Memorial Day and was asked about the potential fracture in the...

President Joe Biden championed the new bipartisan budget agreement to avoid a default on the national debt, saying it “prevents the worst possible crisis.” The administration and House Republican leaders looked to garner support for a tentative deal to increase the country’s borrowing limit amid ballooning government debt following weeks of intense negotiations. Following the announcement that both sides reached...

Commentary I don’t know when the debt ceiling will be raised, but it will be raised. Every time federal spending bumps up against the debt ceiling, we witness the same drama, a drama so predictable that you could almost call it a ritual: Republicans, citing a need for fiscal restraint, demand some cuts to federal spending; Democrats resist the proposed...

The debate on raising the debt ceiling is like a game of Russian roulette that may impress Washington politicians but poses real risks to the world. “The president is becoming increasingly fixated on this idea that Congress can hold him hostage anytime they want. But instead of making it look like we are being held hostage we just have to...

The U.S. has once again sunk into a debt crisis that must be resolved by raising the debt limit, but the two parties are once more playing political games. As the Democrats and Republicans engage in talks, posturing while they quarrel, other countries are afraid. Bluntly speaking, this is hegemony. Since the end of World War II, U.S. political and...

My daughter had the assignment of writing a speech about any person. She chose to write about her great-grandmother, my grandmother, who had passed away years before she was born. She discovered that my grandmother was strong-willed, frugal, hard-working, and intelligent. Born in 1906, she epitomized what Tom Brokaw called the “Greatest Generation,” a generation who lived through the Spanish...