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President Biden wrongly claimed Tuesday that he slashed the national debt by $1.7 trillion — despite increasing it by about $3.84 trillion over his first two years in office. The 80-year-old president made the error — apparently as a result of confusing the terms “debt” and “deficit” — while bashing House Republicans as irresponsible for demanding spending cuts in exchange for raising the debt ceiling later this year. “You know you hear ads with the big-spending Joe Biden?” Biden said during a speech in Virginia Beach, Va. “In two years, I reduced the debt $1.7 billion — $1.7 billion. “It’s...

"the biggest contribution that the U.S. can make to the debt issues outside the country is to act on responsible monetary policies, cope with its own debt problem, and stop sabotaging other countries' active efforts to solve their own debt issues" The Chinese Embassy In Zambia Reacts To US Treasury Secretary Janet Yellen's Criticism Of China's Debt Terms For African Nations 1/24/2023 "We can't run the world without China" President Richard Nixon Speaks To Political Journalist Theodore White As Quoted In "The Making Of The President 1968" "The capitalist will sell us the rope with which to hang them" Soviet...

The Congressional Budget Office said Wednesday the national debt will reach 118% of GDP by 2033 – the highest level ever recorded – and continue to rise "if current laws generally remained unchanged." The projections were part of the nonpartisan office's "Budget and Economic Outlook: 2023 to 2033." According to the report, the national debt is projected to increase by $22 trillion over the next 10 years, reaching $46 trillion by 2033. An analysis of the report by the Committee for a Responsible Federal Budget found the nation's deficit will total $1.4 trillion for fiscal 2023 and "more than double...

A New York Times editorial board member actually claimed that Americans should be concerned about their taxes being too low when thinking about the $31 trillion-plus national debt crisis. Yes, you read that correctly. Binyamin Appelbaum, The Times editorial board’s so-called “lead writer on economics and business” argued that the government is actually a victim in the debt crisis that it created. “The Real Debt Crisis Is Low Taxes,” read the headline of his nonsensical Jan. 25 op-ed. It seems he realized just how stupid his headline sounded as The Times later changed the headline entirely, making it appear more...

Have legitimate concerns about the national debt? Well, you may just be one of those GOP “economic terrorists,” according to New York Times bloviator-in-chief Paul Krugman. Krugman’s Jan. 19 column spewed bile at GOP congressional members seeking spending concessions from President Joe Biden on the debt ceiling issue. “Don’t Try to Appease Economic Terrorists,” the headline read. Yes, Krugman actually used the word “terrorists.” [Emphasis added.] He sugar-coated the issue falsely claiming that raising the debt ceiling “simply allows the government to honor its promises, which include everything from paying interest on its debt to sending checks to Social Security...

Dozens of House Democrats have proposed legislation that would eliminate the debt ceiling, which would allow the government to borrow without any limit set by Congress. The federal government hit the $31.381 trillion debt ceiling last week, and House Republicans are pushing for commitments to cut back on the record growth in federal spending before agreeing to allow more borrowing. But Democrats accuse Republicans of setting up the possibility of prohibiting a debt ceiling hike, which would make the government unable to fund all of its current obligations.

WASHINGTON (AP) — The federal government is on track to max out on its $31.4 trillion borrowing authority as soon as this month, starting the clock on an expected standoff between President Joe Biden and the new House Republican majority that will test both parties’ ability to navigate a divided Washington, with the fragile global economy at stake. Once the government bumps up against the cap — it could happen any time in the next few weeks or longer — the Treasury Department will be unable to issue new debt without congressional action. The department plans to deploy what are...

Since the federal government, with the consent of both parties, just lit another 1.7 trillion dollars of imaginary money on fire, the generally quiet period between Christmas and the new year might be an opportune time to consider an important matter that has been almost completely ignored by both elected officials and the media. That would be the national debt. In case you hadn’t noticed, America’s debt has now reached a staggering level of 31.3 trillion dollars. That’s a figure so huge that it’s almost impossible to wrap your brain around it. In the Boston Globe this week, business and...

With election fraud becoming blatant, Matt Bracken and George McMillan discuss the shocking depth of this systematic problem and how to solve it. Get the most groundbreaking analysis on the internet here. A 26-minute video discussing election issues, economic problems and much more.

The U.S. national debt has passed $31 trillion for the first time in history. Treasury Department data released on today showed the total national debt was $31.123 trillion as of Monday. The new milestone was reached even as the federal government’s insatiable spending has slowed considerably as the COVID pandemic has waned. In the months following the outbreak, the national debt rose by $1 trillion in just a month’s time — not just once, but twice in 2020. As a result, the federal government spent $3.1 trillion more than it received in 2020, and it spent $2.8 trillion more than...

The news of the week concerns the Biden-Regime’s $10,000/student (or in some cases, $20,000/student) loan write-off, being portrayed as a debt forgiveness. It’s not. Today, let’s consider some of the basics that the debate has forgotten – basics that involve not only the schools, the banks, and the students, but the taxpayers, the economy, and civilization itself. Advance warning: this is going to be a long one; it's a big topic. MORAL HAZARD Think of the famous concept of the “butterfly effect” – the idea that every action might be a cause of other, possibly unanticipated results down the line....

WALL Street executive Edward Dowd alleges the Covid crisis was manufactured to solve governments’ out of control debt crises. His 20 years’ experience with high-profile financial crashes alerted him to a potential underlying fraud being used to wipe the books clean. Dowd watched the 1990s internet dotcom bubble burst and witnessed the 2008 global recession caused by fraudulent trading in the US property market, so has a nose for these things. And with governments still saddled with debt from both those disasters (the UK’s public debt is £2.1trillion, double pre-2008, while the US debt had tripled at $30trillion) something mighty...

Tesla and SpaceX CEO Elon Musk is issuing a dire warning about the record U.S. national debt, which has surpassed $30 trillion. "True national debt, including unfunded entitlements, is at least $60 trillion – roughly three times the size of the entire US economy. Something has got to give," Musk tweeted Thursday night in response to a Babylon Bee article titled, "Biden Goes Double Or Nothing On National Debt By Placing $30 Trillion On The Bengals." There is reportedly about $93 trillion of unfunded liabilities over 75 years. Unfunded liabilities are defined as promised benefits to individuals through entitlement programs...

Elon Musk Slams Biden Administration Proposal: 'Delete It' https://www.youtube.com/watch?v=qMWOn7qtQlI

Tesla and SpaceX CEO Elon Musk said Congress should "can" President Joe Biden's multitrillion dollar Build Back Better Act, which Democrats are seeking to pass with budget reconciliation to avoid relying on votes from Republicans. "Honestly, I would just can this whole bill," said Musk, ranked number two on the 2021 Forbes 400 list of the wealthiest Americans. "Don't pass it. That's my recommendation."

Tesla CEO Elon Musk assailed a $2 trillion social and climate spending bill, saying he's in favor of scrapping the entire package. "Honestly, I would just can this whole bill. Don't pass it," Musk said at the Wall Street Journal's CEO Council, which he appeared at virtually. "That's my recommendation." He swung at a specific provision within the legislation that would authorize a tax credit up to $12,500 for Americans if they bought an electric vehicle assembled by unionized workers with batteries constructed in the US. "I am literally saying get rid of all subsidies," he said. Musk, who said...

“Spending is the real problem,” said the world’s richest man when he dismantled the logic behind the Democratic Party’s latest class warfare tax-the-rich scheme. Tesla co-founder and CEO Elon Musk took to Twitter in response to a Washington Post story promoting the Democrat tax plan, which featured him as the cover photo. The Post said the proposal “would raise billions of dollars from a handful of the richest Americans, attempting to create perhaps the most narrowly focused tax policy in postwar history.” Post NASA and space industry reporter Christian Davenport seemingly celebrated how the “$50 billion” Musk would pay in...

When the history of this American era is written, the top headline will not be about election controversies or critical race theory or even COVID-19. This will be known most of all as the era when America sold out its future generations. This week, America's national debt surpassed $30 trillion for the first time, a full $7 trillion increase from just two years ago. How did this happen, and who's to blame? President Bill Clinton was no deficit hawk, but with a Republican Congress keeping him largely in line and with the dot-com boom providing record government revenues, Clinton gets...

The ABC, CBS and NBC evening networks committed one of the most egregious acts of news censorship by ignoring the U.S. debt topping $30 trillion for the first time ever. The U.S. Treasury Department released data on Tuesday showing that the U.S. total public debt outstanding was $30.01 trillion as of Jan. 31. The Wall Street Journal reported the new figure “was a nearly $7 trillion increase from late January 2020, just before the pandemic hit the U.S. economy.” Committee for a Responsible Federal Budget President Maya MacGuineas reportedly told The Journal that the enormous spike in the national debt...

America's national debt just hit another sobering milestone. Total public debt outstanding is now above $30 trillion, according to Treasury Department data published Tuesday. Government borrowing accelerated during the Covid-19 pandemic as Washington spent aggressively to cushion the economic blow from the crisis. The national debt has surged by about $7 trillion since the end of 2019. It's impossible to know how much debt is too much, and economists remain divided over how big of a problem this really is. But the latest debt milestone comes at a delicate time as borrowing costs are expected to rise. After many years...