US National Debt

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...

Military aid, including weapons and ammunition, sent by the United States to Ukraine was overestimated by at least $3 billion owing to an accounting mistake by the Pentagon, Defense Department officials have said. “During our regular oversight process of presidential drawdown packages, the Department discovered inconsistencies in equipment valuation for Ukraine,” said Pentagon deputy press secretary Sabrina Singh in an...

John Whitehead “There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men.” — Ludwig von Mises Once again, the police state is up to its old tricks, stoking tensions over whether or not the government is forced to shut down, even partially, due to a default on the national debt. Yet while these...

Commentary Some Senate Democrats are urging President Joe Biden to “use” the 14th Amendment to raise the debt limit by executive decree. For example, Elizabeth Warren (D-Mass.) stated: “The 14th Amendment is not anyone’s first choice. The first choice is that the Republicans raise the debt ceiling because the United States government never, ever, ever, ever defaults on its legal...