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The Latest Breaking News from National Debt

Congress Admits It Has a Debt Problem, But Will It Do Anything?

Servicing debt grows more expensive as the deadline to curb the spending spree gets closer.

Reason

After Moody's Warning, Federal Officials Continue To Ignore Fiscal Reality

Moody's calculates that interest payments on the national debt will consume over a quarter of federal tax revenue by 2033, up from just 9 percent last year.

Reason

South Africa's medium-term budget reflects difficult and contested decisions

The medium-term budget policy statement presented by South Africa’s finance minister, Enoch Godongwana, to parliament on 1 November 2023 is intended to provide a preview of government’s public finance plans over the next three years. It does not actually commit government to anything, either in law or in practice. Nevertheless,…

The Conversation

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Academics challenge Starmer to accept Israel’s siege of Gaza is against international law – UK politics live

Labour urged to clarify its position on collective punishment by 39 academics who say party must confirm it ‘opposes the commission of war crimes’

The Guardian - UK

No, Low Interest Rates Did Not Justify Adding Trillions of Dollars to the National Debt

Especially because the once-dismissed possibility of rising rates is now a reality.

Reason

The Debt Crisis Is Getting Real

Rising bond yields mean the national debt is going to be a lot more expensive in the next few years, and we just keep adding to it.

Reason

GOP candidates partially blame shutdown threat on Trump debt - Roll Call

Some Republican candidates blasted Donald Trump at a debate he skipped, saying his spending set the stage for a looming government shutdown.

Roll Call

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Freedom means tormenting Kevin McCarthy

Conveniently, the Freedom Caucus wants to blame Democrats after Donald Trump ran up $8 trillion in debt

Salon

Why Janet Yellen isn't worried about the $33 trillion national debt

Yellen looks at one key statistic to determine if the U.S.'s national debt is sustainable, and she says it's "at a very reasonable level.”

Fortune

New Study Warns Climate Change Could Skyrocket National Debts Globally

Research predicts that 59 nations will experience a drop in sovereign credit ratings.

Zenger

U.S. Credit Rating Downgrade Is a Sign of Government Dysfunction

The national debt has ballooned from $14 trillion to $32 trillion in a little over a decade.

Reason

Fast-rising borrowing costs putting UK public finances at great risk, warns OBR

Gloomy report says national debt could exceed 300% of GDP within next 50 years

The Guardian - UK

The Next President Needs To Cut Spending

At a minimum, the national debt should be smaller than the size of the economy. A committed president just might be able to deliver.

Reason

U.S. Debt on Course to Balloon Before It Shrinks: Kiplinger Economic Forecasts

See why U.S. debt will continue to rise, thanks to factors such as inflation, Medicare, and Social Security spending.

Kiplinger

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Tribune News Service

Editorial: Will we every truly know the depth of pandemic fraud?

The late American satirist P.J. O’Rourke once cracked that “Giving money and power to government is like giving whiskey and car keys to teenage boys.” The $32 trillion national debt is one testament to the accuracy of his observation. The billions and billions of dollars that Washington squandered during the…

Radio France Internationale

France avoid S&P credit downgrade but concerns persist

France managed to avoid a fresh credit downgrade from a leading rating agency on Friday, despite mounting concern over the country's surging national debt.

Radio France Internationale

French debt in spotlight as ratings agencies sound alarm

France's surging national debt is causing increasing alarm with the country risking a fresh warning on Friday over its credit rating after a downgrade.

Bangkok Post

French credit rating under more pressure

PARIS: France's surging national debt is causing increasing alarm with the country risking a fresh warning on Friday over its credit rating after a downgrade.

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news in one place.

100's of premium titles.
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Bangkok Post

Give America a debt brake fast

Since 1960, the United States has raised its debt ceiling 78 times -- soon to be 79, if Congress approves the latest last-minute deal. On a wall in Manhattan, not far from Times Square, a billboard-size display has kept a running tally of the national debt amount.

Al Jazeera

How does US debt rank compared with the rest of the world?

The United States has the world’s largest national debt at $31.4 trillion.

The Independent UK

Stock market today: Asian markets mostly higher after Biden-McCarthy deal on US debt

Asian shares are mostly higher after President Joe Biden and House Speaker Kevin McCarthy reached a final agreement on a deal to raise the U.S. national debt ceiling

Fortune

Democratic veterans from 2 decades of budget wars say the national debt isn't worth holding the U.S. and global economy 'hostage'

"If the future is what you care about, then doing things that hurt the future doesn't make sense.”

Reason

Taxing the Rich Will Have No Meaningful Effect on Our Sky-High National Debt

The U.S. tax system is extremely progressive, even compared to European countries—whose governments rely on taxing the middle class.

The Independent UK

Watch: Biden and McCarthy arrive at White House to discuss US debt ceiling as default date looms

Watch live outside the White House as President Joe Biden meets with House SpeakerKevin McCarthy on Monday 22 May, after their first meeting on Sunday to try to break the stalemate over legislation to raise the national debt limit.

Fortune

The ‘dysfunctional’ debt ceiling fight could cause a $12 trillion blow to the American economy if Washington doesn’t get its act together

There have been 78 debt ceiling deals since 1960 and zero failures. Could this time really be different?

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