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Keyword: debt

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  • California: The Golden State in Utter Decay

    10/28/2020 12:39:28 PM PDT · by Lenora Thompson · 27 replies
    Gen Z Conservative ^ | 10/28/2020 | PF Whalen
    A Libt...I mean, Leftist, recently suggested that California should bestow largesse on impoverished Mississippi. As PF Whalen writes in this article, "California had a reported government debt of over $1.5 trillion as of 2017..." ---------------------------------- California is a mess; no secret there. But the degree of decline that befalls it, and the quickness with which that decline is moving, seems to be largely ignored; particularly by Californians themselves. The nation’s most populous state, and arguably its most naturally beautiful, is falling apart virtually everywhere we look. Yet state and local governments not only insist on moving forward with leftist policies,...
  • BREAKING: Trump Says If Reelected, He Will ‘Cut Middle Class Taxes Even Further’

    10/26/2020 10:00:19 PM PDT · by RandFan · 53 replies
    National File ^ | October 26, 2020 | GABRIEL KEANE
    President Donald Trump said during a stop on the campaign trail Monday that he will double down on his pro-American domestic policy if he is reelected to a second term in office in November’s election, delivering a promise to “cut middle class taxes even further.” The President’s remarks came during a campaign rally in Martinsburg, Pennsylvania, the latest in a series of rallies across the Commonwealth, which is widely viewed as a key battleground state. “And in my second term I will cut middle class taxes even further,” President Trump stated, eliciting uproarious applause from the crowd.
  • PortMiami wants $285M in COVID rent breaks for cruise lines as debt pressures grow

    10/20/2020 12:44:30 PM PDT · by Capt. Tom · 23 replies
    Miami Herald ^ | Oct. 20, 2020 | Douglas Hanks
    Faced with a crippled cruise industry as a one-time cash cow, PortMiami wants to slash required rent payments for ships and hope business picks up in time to cover debt payments for an ongoing expansion. Once federal regulators lift the existing “no sail” order on cruises, cruise lines would resume rental fees for ships, but not have to meet minimum payments. Kuryla said the agreements were tailored to keep Miami poised to remain the top cruise port once ships begin filling up again, and reduce berthing costs enough for companies to consider leaving the port with vessels at a fraction...
  • Trump pushes for major COVID-19 deal over Senate Republican objections

    10/20/2020 7:14:36 AM PDT · by Theoria · 48 replies
    Reuters ^ | 20 Oct 2020 | Susan Cornwell
    President Donald Trump on Tuesday pushed for a comprehensive COVID-19 relief package, saying he would accept a deal worth more than $2.2 trillion despite opposition to large spending measures among his fellow Republicans in the U.S. Senate. “I want to do it even bigger than the Democrats,” Trump said in an interview with Fox News, as talks between House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin approached a Tuesday deadline for reaching a bipartisan deal that could pass Congress before Election Day on Nov. 3. The White House has proposed $1.8 trillion in coronavirus relief, while Pelosi...
  • Pelosi gives White House 48 hours to agree to COVID stimulus deal

    10/18/2020 9:59:24 PM PDT · by EinNYC · 56 replies
    NY Post ^ | October 18, 2020 | Mark Moore
    House Speaker Nancy Pelosi on Sunday gave the White House 48 hours to reach a deal on a new coronavirus stimulus plan — saying otherwise Congress will not be able to pass the relief before the November election. “The 48 only relates to if we want to get it done before the election — which we do,” Pelosi said on ABC News’ “This Week.” “But we’re saying to them we have to freeze the design on some of these things, are we going with it or not, and what is the language.”
  • Contrary To Claims By Pelosi And Hillary, NY Times Reports There’s No Evidence Trump Owes Money To Russia

    10/14/2020 7:45:11 PM PDT · by SeekAndFind · 17 replies
    Hotair ^ | 10/14/2020 | John Sexton
    Two weeks ago the NY Times published a look at President Trump’s tax returns which found he owes about $400 million in debt. Immediately this became a talking point among Democrats. Nancy Pelosi went on MSNBC with Andrea Mitchell and claimed Trump’s debt was a national security risk. Pelosi hinted darkly that Trump may personally owe money to Vladimir Putin: Ms Pelosi said the report showed that “this president appears to have over $400m in debt”.“To whom? Different countries? What is the leverage they have?” she asked, adding: “So for me, this is a national security question.”“The fact that...
  • Prospects for more stimulus checks, coronavirus relief fade as latest offer from Trump draws opposition from Republicans and Democrats

    10/10/2020 12:06:50 PM PDT · by rintintin · 76 replies
    Washington Post ^ | Oct 10 2020 | By Erica Werner, Jeff Stein and Seung Min Kim
    Senate Republicans and House Speaker Nancy Pelosi (D-Calif.) raised intense objections Saturday to a new $1.8 trillion economic relief proposal from the Trump administration, greatly dimming prospects for a coronavirus relief deal before the election. On a conference call Saturday morning with Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows, multiple GOP senators denounced the proposal, attacking the price tag as too big, questioning the overall direction and criticizing individual proposals, according to several people who participated in the call or were briefed on its contents. They spoke on the condition of anonymity to detail the...
  • $75 Billion in Band-Aids Won't Cure Ailing Airlines

    10/08/2020 5:54:51 AM PDT · by Kaslin · 46 replies ^ | October 8, 2020 | Veronique De Rugy
    Regal Cinemas announced recently that it will temporarily close all 536 of its U.S. locations as the COVID-19 pandemic rages on and continues to keep customers away. This move will affect approximately 40,000 employees across the country. And yet, nobody in Congress is talking about a bailout for Regal. Now compare that with the airline industry. The airlines received a $50 billion bailout in April of this year, with $25 billion in subsidized loans and $25 billion meant to keep most airline workers employed until the end of September. As predicted, since consumers weren't ready to fly yet, this taxpayer-funded...
  • Trump on Twitter: If I am sent a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY. I am ready to sign right now. Are you listening Nancy?

    10/06/2020 7:56:47 PM PDT · by White Lives Matter · 98 replies
    Twitter ^ | October 6, 2020 | Donald J. Trump
    Donald J. Trump @realDonaldTrump If I am sent a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY. I am ready to sign right now. Are you listening Nancy? @MarkMeadows @senatemajldr @kevinomccarthy @SpeakerPelosi @SenSchumer 9:18 PM · Oct 6, 2020
  • 15 signs that America’s economic depression is accelerating as we head toward the Holiday Season

    10/06/2020 3:38:38 PM PDT · by Roman_War_Criminal · 19 replies
    economic collapse blog ^ | 10/5/20 | Michael Snyder
    Hardly anyone expected that things would get this bad in 2020. Once the pandemic hit and states all over the country started instituting lockdowns, economic activity collapsed dramatically. U.S. GDP was down 31.4 percent during the second quarter of 2020, and that was a drop without parallel in all of U.S. history. In fact, that decline was more than three times as large as the previous record. But eventually states started to “reopen” their economies, and U.S. GDP for the third quarter is expected to show a significant rebound when the numbers are finally released. Of course we still aren’t...
  • Trump’s Taxes: Everything Old Is New Again

    09/29/2020 3:48:04 AM PDT · by Kaslin · 24 replies ^ | September 29, 2020 | Derek Hunter
    Did you know that Donald Trump paid very little in taxes in certain years? Seriously, I read it in the New York Times…several times. The latest “bombshell” story designed to take out the President is yet another rehash not only of things the media has reported in 2016 and 2018, but things he’s publicly admitted himself. In other words, it’s not news at all. Never people to let the facts stand in the way of a good narrative, the media dutifully snapped into action to parrot the latest reworking of an old story as if it were new. The gang...
  • China’s Largest Real Estate Developers Face Financing Crunch; 76 of the biggest real estate developers need to repay $367 trillion in the next 12 months, including $25.69 trillion in interest

    09/28/2020 8:59:22 PM PDT · by SeekAndFind · 38 replies
    Epoch Times ^ | 09/28/2020 | Nicole Hao
    A new study on China’s real estate market reported by state media paints a bleak picture: 76 of the biggest real estate developers need to repay 2,500 trillion yuan ($367 trillion) in the next 12 months, including 177 trillion yuan ($25.69 trillion) in interest.Such enormous debt has prompted real estate firms to refinance.A second study, conducted by private financial data service supplier Chinese Beike Institute, revealed that Chinese property developers issued 307 bonds in the third quarter of 2020 and collected about 324.7 trillion yuan ($47.67 trillion) from Chinese and overseas financial markets.“The scale of financing in Q3 is 14...
  • China Evergrande: A Canary in the Coal Mine? Stocks and Bonds of China’s largest property developer by sales volume are being dumped for fear that the real estate sector is in dire financial straights

    09/26/2020 9:06:42 AM PDT · by SeekAndFind · 9 replies
    Epoch Times ^ | 09/26/2020 | Fan Yu
    China Evergrande, mainland China’s largest property developer by sales volume, has been under pressure lately from investors dumping its stocks and bonds on fears that the company—a bellwether for China’s real estate sector—is in dire financial straits.The developer is highly indebted, and its ongoing troubles could signal upcoming pain for other highly levered Chinese companies as the world’s No. 2 economy suffers from a prolonged economic growth slowdown.Evergrande’s woes—its common stock fell 9.5 percent and the price of its $1.2 billion offshore bond due June 28, 2021 dropped 4.1 percent to $87.51—on Sept. 25 were the result of a document...
  • Joe Biden Would Crush the Economy with Trillions in New Taxes, More Trillions in New Spending

    09/15/2020 6:49:46 AM PDT · by SeekAndFind · 7 replies
    PJ Media ^ | 09/15/2020 | Stephen Green
    An unrepentant old-school liberal, Joe Biden would crush the economy with three trillion dollars worth of new taxes and five trillion dollars in new spending. A new study released on Monday by the Penn Wharton Budget Model (PWBM) argues that this is a good thing. According to The Hill: “At the end of the day, they actually decrease debt because they do have significant revenue raisers,” Richard Prisinzano, director of policy analysis for PWBM, said in an interview with The Hill. “And the economy is more productive. As we put in things like education and infrastructure, workers become more productive,...
  • Biden, After Rejecting Progressive Spending Plans, Now Hones Multi-Trillion-Dollar Budget

    09/14/2020 7:30:33 AM PDT · by Theoria · 5 replies
    The Wall Street Journal ^ | 14 Sept 2020 | Jacob M. Schlesinger and Eliza Collins
    His proposal—aside from spending on financial crisis, pandemic—would represent the biggest increase in decades Joe Biden won the Democratic presidential nomination running as a moderate, rejecting the big-government plans of progressive rivals as unaffordable. In the general election campaign, he has rolled out his own multi-trillion-dollar platform that a new study finds would push long-term Washington spending to its highest level in decades. The former vice president has proposed a total of $5.4 trillion in new spending over the next 10 years, according to an analysis published Monday by the Penn Wharton Budget Model, a nonpartisan group at the University...
  • America's National Debt Will Be Larger Than the Economy Next Year

    09/09/2020 1:59:06 PM PDT · by nickcarraway · 29 replies
    Reason ^ | Eric Borhm
    The Congressional Budget Office says the deficit will hit $3.3 trillion this year. The national debt will exceed the size of America's gross domestic product for the first time since the end of World War II.When the federal government's fiscal year ends on the last day of September, America's national debt will nearly match the size of the nation's economy for the first time since the end of World War II, according to projections from the Congressional Budget Office (CBO). The national debt will equal 98 percent of America's gross domestic product, a rough measurement of the size of the...
  • Debt Matters

    09/07/2020 3:59:56 AM PDT · by karpov · 8 replies
    The Grumpy Economist ^ | September 4, 2020 | John Cochrane
    Last week, the U.S. passed a milestone — US federal debt in private hands exceeded 100% of GDP. But does all this debt matter, or is worrying about debt passé? This debate has been going on among economists for a while. One does not need to go to the incoherence of "modern monetary theory" to find support for the view that debt has few consequences. Olivier Blanchard, of MIT and the IMF, in his Presidential Address to the American Economic Association, (excellent summary here) declared that “there may be no fiscal costs” of additional debt. The core of his argument...
  • Bin Laden the Communist

    09/10/2007 10:17:29 AM PDT · by Tailgunner Joe · 10 replies · 845+ views ^ | September 10, 2007 | William M. Arkin
    Since Osama bin Laden made his first appearance in almost three years on Friday, the government and the news media have exhaustively scrutinized his video for clues as to the Saudi terrorist's whereabouts and well-being. ...his message has been dismissed as meaningless psychological warfare and propaganda, put forward in a claim for relevance on the sixth anniversary of September 11. But what bin Laden actually says in his "message from Sheikh Osama bin Laden to the American people" has the potential to be quite revealing. Gone is any mention of Israel, of the Christian and Jewish crusaders, or of the...
  • “You all try to live like young people ought to live. Don't want everything somebody else has got. Whatever you get, if it’s yours be satisfied. And don't spend your money till you get it. So many people get in debt.

    08/27/2020 1:45:01 PM PDT · by dmam2011 · 9 replies
    Clarksvillian Underground ^ | August 27, 2020 | Transcribed
    (CU) - “My name is Fountain Hughes. I was born in Charlottesville, Virginia. My grandfather belong to Thomas Jefferson. My grandfather was a hundred and fifteen years old when he died. And now I am one hundred and, and one year old.” “You all try to live like young people ought to live. Don't want everything somebody else has got. Whatever you get, if it’s yours be satisfied. And don't spend your money till you get it. So many people get in debt. Well, that all was so cheap when I bought it. You spend your money before you get...
  • Why the Great Depression of 2020 Will Be Different

    08/26/2020 8:33:00 PM PDT · by Tolerance Sucks Rocks · 24 replies
    Return to Order ^ | August 25, 2020 | Julio Loredo
    They are already calling the current pandemic-induced economic crisis, “The Great Depression of 2020.” The paradigm is, of course, the Great Depression of 1929 that substantially changed the world’s model of development, signaling the onset of State intervention in the economy (the welfare state). Analysts are also calling it “The Great Jump Backwards,” because it will push the world back in time by canceling three decades of economic development. International agencies estimate the contraction in GNP worldwide at -5.2%. The Eurozone with be the hardest hit with -9.1%. “It is the worst economic recession since 1870, a devastating blow for...