Credit Card Defaults, Balances, Debt Ratios, and Credit Limits in Early 2025: Our Reckless Spendings with Credit Cards
When the free money runs out, the hangover is resolved. Insights from Wolf Richter on Wolf Street. The delinquency rate for credit cards issued by commercial banks, specifically those that are 30 days or more overdue, dropped to 3.05%. This marks the third consecutive quarter of decline, a slight improvement from the first quarter of […]
Trump’s tax reductions could increase debt by $3.8 trillion.
According to a recent analysis by the Congressional Budget Office (CBO), President Trump’s tax policy might increase the national debt by approximately $3.8 trillion. The tax measures included in the House GOP’s proposal, aimed at advancing Trump’s domestic agenda, could potentially lower federal revenue by about 10% over the next ten years compared to the […]
Wealthy individual: US credit downgrade does not fully reflect the dangers of government debt
Billionaire Ray Dalio has expressed strong feelings regarding Moody’s recent downgrade of the U.S. credit rating, suggesting that it fails to fully capture the risks associated with government debt. Moody’s revised the country’s rating from Triple A to Double A just before the GOP’s spending bill announcement. “When you downgrade U.S. debt, it’s important to […]
US debt reduction leads to increased borrowing expenses
US Government Bond Market Faces New Volatility Investors might have thought the rough patch for financial markets was settling down, but fresh volatility in US borrowing costs suggests otherwise. Interest rates on long-term US government debt spiked above 5% this past Monday, a level not seen since October 2023, before pulling back slightly. This surge […]
Trump’s economic adviser on debt downgrade: ‘Moody’s can make its own choices’
On Monday, a key economic adviser to Trump dismissed the recent downgrade of the US credit rating by Moody’s, maintaining that he still considers the US economy to be rated triple-A. In a discussion on Fox Business Network’s “Mornings with Maria,” Kevin Hassett, who leads the White House National Economic Council, was asked by host […]
Concerns about the rising US government debt shake markets
US Federal Debt Loses Triple-A Credit Rating On Monday, news broke that the US federal government’s rapidly increasing debt has lost its final triple-A credit rating, raising fresh concerns for a market that is already quite volatile. Long-term borrowing costs are climbing, and stock values are struggling. Moody’s, a credit rating agency, downgraded the US […]
Government expenditures increase debt to unmanageable levels even with record income.
The U.S. is grappling with a significant debt issue, a concern widely acknowledged by various credible sources, including the Treasury Department and the Federal Reserve. The national debt stands at over 120% of GDP, significantly surpassing what many experts deem sustainable. Deficits are soaring, reaching levels typically associated with wartime—about double the historical average relative […]
Stock futures fall after U.S. debt downgrade raises concerns about deficit risk: Live updates
Stock Futures Decline Following Credit Rating Downgrade On Sunday night, stock futures dropped as investors reacted to Moody’s recent downgrade of the US credit rating. Futures linked to the Dow Jones industrial average fell by 292 points, approximately 0.7%. Similarly, S&P 500 futures retreated by 0.7%, and Nasdaq 100 futures declined by 0.8%. Moody’s lowered […]
Chick-fil-A operators have assisted 177 employees in graduating from college without debt.
Chick-fil-A Employees Graduate Debt-Free Through Unique Program Some employees at Chick-fil-A have celebrated graduating from debt-free universities, thanks to a unique partnership formed between independent Chick-fil-A operators, Point University, and Ficus Education. This year, 177 employees earned their degrees while working at various locations across the country, which was reported on a restaurant industry website. […]
US No Longer Has Triple-A Credit Rating as Moody’s Lowers It Due to Rising Government Debt
The US has lost its final triple-A credit rating from major agencies as of Friday. Moody’s made this announcement, pointing to increasing government debt levels as a key factor, which undermines Donald Trump’s narrative of economic strength and prosperity. This downgrade from AAA to AA1 is another setback for the president, especially since his key […]