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The U.S. began adding $1 trillion worth of debt about every three months beginning last June, a Bank of America investment strategist Michael Hartnett first pointed out in an investment note published last week. The national debt is currently $34.48 trillion and rising. It surpassed $34 trillion for the first time in U.S. history on Jan. 4. Three months prior, the debt first reached $33 trillion on Sept. 15, 2023. Three months prior to that, it first reached $32 trillion on June 15, 2023. “The national debt is the amount of money the federal government has borrowed to cover the...

The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days. The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months. U.S. debt, which is the amount of money the federal government borrows to cover...

In many ways, Speaker Johnson didn’t bail out Democrats from a tough political predicament as much as he did his own Republican members.The outline of the spending agreement House Speaker Mike Johnson, R-La., cut with Democratic leaders sounds bad on its face. But the underlying reasons for that agreement seem far worse.As I wrote last week, “Speaker Johnson and Republican ‘leadership’ … bailed the Democrats out of the predicament they put themselves in last May.” To which I should make an important addition: In many ways, Johnson didn’t bail out Democrats from a tough political predicament as much as he...

The European Union appears undeterred by years of calamitous climate policies, with EU Commission Chief Ursula von der Leyen demanding new taxes and other schemes to take green agenda investment into the “trillions”. Leaders from around the world descended (many of whom on private jets) upon the oil-rich Arabian nation of Dubai for the 28th instalment of the United Nation’s top annual climate summit, in which politicians demand that ordinary citizens bankroll their lofty visions of a so-called green future.

While in New York City to give a speech at the United Nations, President Biden declined to meet with Mayor Eric Adams. "I was hoping to get some support from my Party's president to help us afford the billions of dollars in extra expenses the flood of migrants is costing us," Adams said. "Without some sort of a federal bailout we're going to have to cut city services across-the-board. That will hurt the poorest of our residents, most of which are American citizens." Presidential Press Secretary Karine Jean-Pierre chastised Adams "for dumping his local problems on the President. President Biden...

African-American law professors and critical race theorists are urging the United Nations to order America to pay millions of dollars to each black citizen, reports the London Daily Mail. That would cost America over $200 trillion, many times the size of its economy. Some left-wing legal scholars claim reparations are required by international human-rights treaties signed by the U.S. or by customary international law. Their effort reflects the reality that reparations are very unpopular among American taxpayers, so there is little chance that the federal government will pay reparations, unless it is ordered to do so by the UN. 63...

DeSantis 101May 25, 2023 | Sundance | 74 CommentsNow that the people who created, manage and construct the branding for Ron DeSantis have finally made the admission to push their puppet into the 2024 race, we should probably talk about what the person representing their quest is all about.First, the obvious. Notice how the managers will not allow Ron DeSantis to hold a public campaign event in Florida? This is a tenuous time for them, and they cannot allow the optics of DeSantis being protested by Republicans in his home state to undermine their effort. DeSantis must be shielded in...

More than $250 billion in Covid-19 relief funds were lost to “fraud” and “waste,” the directors of three US government agencies testified before the House Oversight and Accountability subcommittee on Thursday. Compounding what Deputy Inspector General Sheldon Shoemaker of the Small Business Administration (SBA) called “the biggest fraud in a generation,” the officials stressed that the figures they gave represented an extremely conservative estimate of the total amount lost as they did not include the amount defrauded from the Pandemic Unemployment Assistance program. According to a statement submitted by Shoemaker ahead of the hearing, the SBA has already uncovered $190.7...

And even all that spending isn’t enough: Social Security’s “unfunded liabilities” — how much money the government would need today to make up the difference between the money that will be paid into Social Security in the future and the benefits that have been promised — is about $40 trillion. How much is $40 trillion? It is all the money in the world — literally: All the cash in circulation, plus all the deposits in checking accounts and savings accounts, adds up to about $40 trillion. That is a big hole to climb out of. Just as inflation can cause...

After a multi-day standoff filled with plenty of Democrat-on-Democrat combat, President Joe Biden came to Capitol Hill on Friday with his agenda in doubt and delivered a clear message to a fractious party: Come on, man. A simple half-hour kumbaya session between Biden and House Democrats on Friday afternoon seemed to forestall an imminent collapse of the party’s marquee policy package: a $1 trillion bipartisan infrastructure deal, as well as a separate, still-undefined, multi-trillion dollar economic and social policy plan. But it also meant that Democrats were set to leave Washington this week without any agreement on the bills and...

Ahead of Thursday’s pivotal vote in the House on Joe Biden’s infrastructure bill, Sen. Joe Manchin (D-WV) persisted in his opposition to the trillion-dollar price tag. In a statement on Wednesday, Manchin, who has previously resisted the bill and even publicly called on Democrats to put a “pause” on it, said that he cannot support the trillions of dollars in spending:

Fox News contributor Karl Rove warned Democrats on "America's Newsroom" Tuesday their bid to pass a $3.5 trillion spending plan could backfire with voters at the polls like in the 2010 midterm elections that followed the passage of the 2009 stimulus bill and Affordable Care Act.

Though he was all for the government ordering an economy-wide shutdown to stop the spread of the coronavirus, infectious disease genius Dr. Anthony Fauci is concerned that Republican objections to the Democrats' spending binge"could lead to a government shutdown that would worsen the pandemic." "The shutdown ordered in 2020 targeted only nonessential businesses," Fauci said. "Society could and did survive the casualties taken by this sector of the economy. In fact, it could be argued that the elimination of these small fry businesses actually helped reshape the whole production and distribution processes into a more consolidated and efficient mode. Relying...

If the United States Senate votes this week on the bipartisan so-called “infrastructure” bill, it would be humanly impossible for any U.S. senator to read it before voting on it. The text of a draft of the bill, obtained exclusively by Breitbart News from U.S. Senate sources not authorized to leak it, shows the plan is 2,701 pages long. The text, which Breitbart News is publishing here so the public can see what Congress is doing in secret, shows the plan is far more sprawling and expansive than GOP senators, who backed advancing it without text even existing, led their...

Senate Majority Leader Chuck Schumer (D-NY) will release a report Wednesday that argues spending trillions will “ease inflation pres­sures.” The report, written by Moody’s chief economist Mark Zandi, claims inflation worries are “overdone,” because “much of the additional fiscal support … is designed to lift the economy’s longer-term growth potential and ease inflation pres­sures,” according to Axios

The president is planning a multi-trillion effort to fix America’s infrastructure and kickstart the economy. But can he get Republicans on board? Joe Biden came to power promising a New Deal-like economic agenda that would not only combat the Covid-19 pandemic, which has now claimed more than half a million lives in the US and caused unemployment not seen since the Great Depression, but also confront the deep-rooted disparities it has exposed. Biden hails 'giant step' as Senate passes $1.9tn coronavirus relief bill Read more After a blitz of executive orders in the opening days of his presidency, Biden is...

WASHINGTON (AP) — The House approved a $1.9 trillion pandemic relief bill in a win for President Joe Biden, even as top Democrats tried assuring agitated progressives that they’d revive their derailed drive to boost the minimum wage. The new president’s vision for flushing cash to individuals, businesses, states and cities battered by COVID-19 passed on a near party-line 219-212 vote early Saturday. That ships the massive measure to the Senate, where Democrats seem bent on resuscitating their minimum wage push and fights could erupt over state aid and other issues. Democrats said the still-faltering economy and the half-million American...

Video at link. (CNSNews.com) - House Speaker Nancy Pelosi (D.-Calif.) said in her press briefing on Thursday that “a trillion dollars” is “an interesting starting point” to talk about another spending bill, but indicated that she wants more than that. “What doesn't measure up is: ‘Oh, it can only be a trillion dollars,’” Pelosi said. “No, we need a trillion dollars for state and local,” she said. “We need another trillion dollars, another trillion dollars for Unemployment Insurance and direct payments. Something like that, but probably not as much for the testing, tracing, treatment, etcetera. “So, a trillion dollars is:...

Striking a contrast to the Trump administration, Democrats behind Joe Biden's campaign believe higher taxes on the wealthy and corporations will not slow economic recovery, planning "significant income redistribution" as soon as 2021, The Wall Street Journal reported. Democrats want to store the taxes on the wealthy and corporations in order to bring more revenue for government spending in the wake of coronavirus impact payments and bailouts, per the report. "It's all the more important to protect the retirement and security of working [people] and make sure the wealthy pay their fair share," Sen. Ron Wyden, D-Ore., who would become...

WASHINGTON - President Donald Trump is asking Congress to unleash a torrent of emergency economic aid - including direct checks to Americans - an effort unseen since the Great Recession to shore up households and the economy amid the coronavirus crisis. Trump wants checks out to the public within two weeks as part of what officials said could approach a $1 trillion package. Congressional leaders vowed swift action. Treasury Secretary Steven Mnuchin appeared on Capitol Hill to brief Senate Republicans as state and local officials acted more forcefully to restrict gatherings and mobility in the face of growing sickness. “We...