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Keyword: usdebt

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  • President Trump [Does] the Impossible: Reduces Debt to GDP Ratio by 1% His 1st Year in Office

    11/19/2017 4:59:03 PM PST · by upchuck · 45 replies
    GP ^ | Nov 19(?), 2017 | Joe Hoft
    President Trump’s policies have decreased the Debt to GDP ratio by 1% while at the same time the Atlanta Fed announced yesterday that the 4th Quarter GDP estimates have increased by 0.2% to 3.4%. Since his inauguration President Trump has focused his efforts on the security of the country and on the prosperity of its economy. The results of his actions are taking shape.The US GDP has increased each quarter in 2017 with the 3rd Quarter GDP increasing to $19.496 trillion – the highest GDP for any country in world history.On the other hand, the President has curtailed US spending....
  • The Ticking Time Bomb That Will Go Off Sooner Than You Think

    11/01/2017 6:17:08 AM PDT · by davikkm · 10 replies
    IWB ^ | Robert Carbery
    Something has been going on this past month that has as usual been lost in the shuffle of other mainstream media prioritized news. Lost in the hysteria around the Vegas shooting (of which we still have many unanswered questions) and Harvey Weinstein and Mueller indicting Manafort and the wacky World Series is the rapid rate of growth of the U.S. national debt during the early months of the Trump administration. In October alone, America’s debt has soared by almost a quarter of a trillion dollars. This is on top of already well over $20 trillion. A monumental story. Lost again...
  • The Federal Reserve is setting America up for economic disaster

    09/19/2017 7:24:05 PM PDT · by Tolerance Sucks Rocks · 75 replies
    The Hill ^ | September 18, 2017 | Armstrong Williams
    I recently had the opportunity to read "The Creature from Jekyll Island" by G. Edward Griffin, a prodigious tome dealing with the circumstances surrounding the creation of the U.S. Federal Reserve System. I was taken aback by some of its provocative assertions. America joined World War I largely to help a few bankers profit off the war (despite a long-standing Monroe doctrine that prohibited our involvement in European affairs) The Bolshevik Revolution of 1917 was supported by international financial interests in order to destabilize Russia and steal the wealth of the Russian people; and So-called "foreign aid" is merely a...
  • The Awful Future that Looms for a Majority of Today’s Americans

    09/20/2017 4:54:19 AM PDT · by Kaslin · 23 replies
    American Thinker.com ^ | September 20, 2017 | Steve McCann
    When it comes to the future, an overwhelming majority of Americans have adopted a mindset that is a variation of Isiah 22:12: “Let us eat, drink and be merry for tomorrow does not matter.” Recently, federal debt surpassed the $20 Trillion mark (additional state and local debt amount to another $2.9 Trillion). That milestone was greeted by the Ruling Class and a vast preponderance of the citizenry with a yawn and a shrug of the shoulder. As the ongoing determination to promote new entitlement spending and the refusal to rein in, but instead to expand, existing programs continues unabated. Any...
  • U.S. Treasury's Mnuchin urges 'clean' debt ceiling hike by August break

    05/24/2017 1:19:35 PM PDT · by Oldeconomybuyer · 6 replies
    Reuters ^ | May 24, 2017 | By David Lawder
    U.S. Treasury Secretary Steven Mnuchin on Wednesday urged Congress to approve a "clean" increase in the federal debt limit by the time it starts its summer recess in early August. "I urge you to raise the debt limit before you leave for the summer," Mnuchin told the House Ways and Means Committee. Congress and the administration can discuss future spending cuts, but it was "absolutely critical" to preserve U.S. creditworthiness by paying debts already incurred, he said. Republicans in Congress have sought to use past debt ceiling increases as leverage to force new spending cuts. Mnuchin said his preference was...
  • Just so you know: Total U.S. debt and other obligations now total $69 trillion

    03/13/2017 9:23:16 AM PDT · by Sean_Anthony · 16 replies
    Canada Free Press ^ | 03/13/17 | Dan Calabrese
    That's 370 percent of GDP, but hey, why change anything we're doing? Exceptional work here from economics writer George Melloan, a one-time member of the Wall Street Journal editorial board and an one of the few who really understands the role currency, interest rates and the Federal Reserve plan in setting the nation’s fiscal course. But within a piece that deals with a fair amount of esoterica, Melloan almost matter-of-factly gives us a jaw-dropping fact: This nation is absolutely drowning in debt:
  • Amazing! Trump Cuts US Debt by $12 Billion In His First Month

    02/23/2017 7:24:50 AM PST · by davikkm · 57 replies
    On January 20th, the day of the Trump Inauguration, the US Debt stood at $19,947 billion. On February 21st, a month later, the US Debt load stood at $19,935 billion. Trump cut the US Debt burden by $12 billion and 0.1% in his first month in office! On January 20, 2017, the US debt was $19.947 billion. On February 21, 2017, the US debt was $19,935 billion.
  • These are the Countries with the Biggest Debt Slaves, and Americans Are Only in 10th place

    01/23/2017 10:27:38 AM PST · by Lorianne · 4 replies
    Wolf Street ^ | 22 January 2017 | Wolf Richter
    Full title:These are the Countries with the Biggest Debt Slaves, and Americans Are Only in 10th place Americans have been on a borrowing binge. To buy their favorite cars and trucks, they’ve loaded up on $1.14 trillion in auto loans. Young and not so young Americans are mortgaging their future with student loans that now amount to $1.28 trillion. Credit card and other debts are at $1.12 trillion. And mortgage debt stands at $8.82 trillion. So, total household debt was $12.35 trillion, according to the New York Fed’s Household Debt and Credit Report for the third quarter 2016. That’s a...
  • Central Banks Now Selling US Debt at Record Pace

    08/18/2016 11:12:36 AM PDT · by milton23 · 16 replies
    Daily Signal ^ | 8/18/16 | William T. Wilson
    In the first six months of 2016, foreign central banks sold a net $192 billion of U.S. Treasury bills, notes, and bonds. This is more than double the pace from the same time last year. China, Japan, and Brazil were the leaders in selling U.S. debt. With the U.S. debt running at approximately $19.4 trillion, this could be problematic. A large selloff of U.S. bonds would decrease their price, or in other worlds, increase domestic interest rates in general (bond prices and interest rates always move in the opposite direction).
  • U.S. ‘Debt Held by Public’ Tops $14,000,000,000,000; Up 122% Under Obama

    08/17/2016 12:19:15 AM PDT · by Mr. Mojo · 12 replies
    CNS News ^ | August 16, 2016 | Terence P. Jeffrey
    (CNSNews.com) - The federal government’s “debt held by the public”—as opposed to its “intragovernmental debt”—has topped $14,000,000,000,000 for the first time in history, according to the latest numbers released by the U.S. Treasury. As of the close business on Aug. 10, the “debt held by the public” was $13,987,862,462,404.79, according to the Treasury. By the close of business on Aug. 11, it had risen to $14,012,831,105,933.15. By close of business on Aug. 12, it had increased again, hitting $14,012,909,909,536.53. When President Barack Obama was inaugurated on Jan. 20, 2009, the federal government’s debt held by the public was $6,307,310,739,681.66. Since...
  • The CBO Looks Ahead to a U.S. Fiscal Disaster

    07/23/2016 5:59:34 AM PDT · by reaganaut1 · 100 replies
    Barron's ^ | July 23, 2016 | THOMAS G. DONLAN
    The American debt problem was almost entirely ignored at the Republican National Convention last week, and we can expect nothing more when the Democrats gather this week. Both parties support the entitlement spending system and the decrepit tax system that fails to support it. They compete on the fiscal side of politics with impossible promises to spend more and tax less. Imagine the U.S. Treasury as an airplane beginning to roll down the runway to take off. For a mile or so, the plane gains no altitude, then the wings start to generate lift. The wheels leave the ground and...
  • Donald Trump's wild idea about dealing with debt may be here sooner than you'd think

    05/30/2016 9:01:01 AM PDT · by Lorianne · 66 replies
    Telegraph (UK) ^ | 28 May 2016 | Peter Spence
    One of the wildest ideas to hit the US Presidential campaign trail might become a reality sooner than you would think. Donald Trump, the Republican party’s nominee, has claimed that the US national debt, standing at more than $19 trillion (£13 trillion), does not need to be repaid. “This is the United States government, you never have to default, because you print the money,” he declared live on air. His comments signal his belief that America’s authorities, could, if they wanted, print enough money to pay back their creditors without raising an extra cent in taxes. To many, Trump’s comments were startling....
  • Central Bank Dump Of US Debt Deepens

    05/20/2016 6:42:09 PM PDT · by Lorianne · 25 replies
    Contra Corner ^ | 18 May 2016 | Patrick Gillespie
    Central banks are dumping America’s debt at a record pace. China, Russia and Brazil sold off U.S. Treasury bonds as they tried to soften the blow of the global economic slowdown. They each sold off at least $1 billion in U.S. Treasury bonds in March. In all, central banks sold a net $17 billion. Sales had hit a record $57 billion in January. So far this year, the global bank debt dump has reached $123 billion. It’s the fastest pace for a U.S. debt selloff by global central banks since at least 1978, according to Treasury Department data published Monday...
  • Saudi Arabia holds $117B in US debt

    05/19/2016 9:16:10 AM PDT · by Lorianne · 13 replies
    CNBC ^ | 16 May 2016 | Jacob Pramuk
    The Treasury Department said Monday that Saudi Arabia held $116.8 billion in U.S. debt at the end of March, revealing for the first time the holdings of the world's biggest oil exporter. The pile puts Saudi Arabia among the largest foreign nation holders of American debt. Still, it sits well behind countries like China and Japan, which both had more than $1 trillion in Treasury securities at the end of March. Saudi Arabia's holdings could be even larger than officially listed, according to Bloomberg, which first reported the total. Saudi Arabia has about $587 billion in foreign reserves and central...
  • Trump: U.S. can never default because it prints money

    05/09/2016 6:09:29 AM PDT · by GIdget2004 · 183 replies
    Politico ^ | 05/09/2016 | Nick Gass
    Donald Trump assailed the media on Monday for what he said was a misrepresentation of his comments on debt, rejecting the notion that he would have the United States default on his debt. "I said if we can buy back government debt as a discount. In other words, if interest rates go up and we can buy bonds back as a discount, if we are liquid enough as a country we should do that. In other words, we can buy back debt as a discount," the presumptive Republican nominee said in a telephone interview on CNN's "New Day." Those who...
  • Trump just exposed America's dirty little secret: Schiff

    05/08/2016 5:20:55 PM PDT · by RayofHope · 125 replies
    CNBC ^ | 05/08/2016 | Trump just exposed America's dirty little secret: Schiff
    Presumptive Republican presidential nominee Donald Trump just revealed an inconvenient truth about U.S. debt, the outspoken and often controversial Peter Schiff told CNBC in a recent interview. Last week, Trump joined CNBC's "Squawk Box" last week to discuss a wide range of topics including U.S. debt, interest rates and replacing Fed Chair Janet Yellen. It was Trump's comments about potentially renegotiating the more than $19 trillion in U.S. debt and the sensitivity surrounding higher interest rates that raised eyebrows. While some observers argued that Trump's approach could be tantamount to a debt default, Schiff told CNBC the GOP nominee was...
  • In 6 Months Since Budget Deal: Debt Up $1 Trillion

    05/02/2016 10:07:35 AM PDT · by BradtotheBone · 29 replies
    CNS NEWS ^ | May 2, 2016 | Terrence P Jeffery
    (CNSNews.com) - In the six months that have passed since then-retiring House Speaker John Boehner and Senate Majority Leader Mitch McConnell cut a budget deal with President Barack Obama that suspended the legal limit on the federal debt until March 15, 2017, the federal debt has increased by just over $1 trillion. The Senate passed “The Bipartisan Budget Act of 2015” with a vote held in the early morning hours of Friday, Oct. 30. Obama signed it on Monday, Nov. 2. At the close business on Oct. 30, 2015, the total federal debt was $18,152,981,685,747.52. By the close of business...
  • Debtors face day of reckoning as credit bubble bursts

    03/06/2016 8:53:47 AM PST · by NRx · 73 replies
    The Telegraph ^ | 03-06-2016 | Mehreen Khan
    The world's credit boom is beginning to show dangerous signs of unraveling, ushering in a period of fresh turmoil for the over-indebted global economy, the Bank of International Settlements has warned. The globe's top financial watchdog called time on the world's debt binge, noting that debt issuance and cross border flows in emerging economies slowed for the first time since the aftermath of the global credit crunch at the end of last year. With financial markets thrown into fresh paroxysms in 2016, oscillating between extremes of "hope and fear", the over-leveraged world was finally approaching a day of reckoning, said...
  • OECD's William White: In Terms of Debt, the Situation Is Way Worse than 2007

    02/26/2016 8:49:35 AM PST · by Lorianne · 2 replies
    Financial Sense ^ | 24 February 2016
    William White, chairman of the Economic and Development Review Committee at the OECD and former chief economist at the Bank for International Settlements (BIS), says the risks posed by global debt levels are greater today than they were in 2007 and that central banking monetary policy has lost its effectiveness. He also explains the crucial differences between modern macroeconomic modeling and complexity theory (or viewing the economy as a complex adaptive system) and the key lessons this has for policymakers, both fiscal and monetary. Here's a portion of his recent interview with Financial Sense airing Friday on the Newshour page:...
  • CBO Issues Dire Warning on U.S. Government finances

    01/20/2016 5:27:15 PM PST · by Lorianne · 38 replies
    China Money Report ^ | 20 January 2016 | D. Collins
    Government estimates of debt over the next decade have gone from adding $1.5 trillion in debt to $9.4 trillion due to recent tax legislation. That will put the country up over $30 trillion in debt assuming there are no further recessions. This is the decade of no return. Seems blowing up peoples countries and importing their poor and putting them on benefits is no longer working. We have also tried closing all our factories and letting the world scam us out of jobs in the “free trade” system. World’s highest tax rates…not seeming to help either. Cramming people into “universities”...