Fleeting presidency, lasting debt: Joe Biden’s real legacy
Joe Biden's farewell to student loan borrowers dovetails nicely with his massive deficit. Repeatedly, spending leads to increasing deficits. Of Biden's many failings, none is more quantifiable than his budgeting, or lack thereof. “I am proud that we have forgiven more student loan debt than any other administration in history.” Biden recently declaredannounced another student […]
Federal debt as far as the eye can see — and them some
Here are the legacies that former President Biden did not mention in his self-congratulations: farewell address Last week: The exploding federal debt — $36.4 trillion,from $28.4 trillion In 2021. That's the past, what about the future? The Congressional Budget Office recently announced Budget and economic outlook, 2025-2035it's not a very pretty photo. The federal deficit […]
Federal govt will hit debt ceiling the day after Trump’s inauguration: Treasury Secretary
The federal government is scheduled to reach the debt ceiling the day after President-elect Donald Trump takes office, at which point “extraordinary measures” will be taken to prevent the U.S. from defaulting on its debt, Treasury Secretary Janet Yellen told Congressional leaders on Friday. I told them. “This letter provides notice of special measures that […]
Yellen: Debt limit will be hit day after Trump's inauguration
Treasury Secretary Janet Yellen said Friday that the U.S. will hit the debt ceiling the day after President Trump takes office, and that the Treasury Department will begin “extraordinary steps” to avert the threat of a national debt default. Yellen said in a letter to Congressional leaders that the Treasury Department would begin taking action […]
Biden made less progress on defense, immigration and debt than the last three presidents: poll
President Biden has done less to improve national defense, immigration and the federal debt than any of his three predecessors in the White House, according to a new survey of U.S. voters. a Gallup poll A poll last month found that Americans ranked Biden, 82, worse on key foreign and domestic policy indicators, even though […]
We’ll Need to Raise Debt Ceiling for California Fire Relief
On Monday's broadcast of NewsNation's “The Hill,” Sen. Mike Rounds (R-South Dakota) said the debt limit would need to be raised to provide California with disaster relief. Mr. Lowndes said while discussing potential conditions on the aid: [are] There are two other items to consider. The first is that we have to increase our debt […]
Sen. Rounds: Tying debt limit to California aid 'not meant as a penalty'
Sen. Mike Rounds (R.S.D.) said Monday that tying the debt ceiling to aid for the deadly wildfires California has recently faced is “not meant to be a penalty.” In a previous conversation on “The Hill” with NewsNation's Blake Berman, Berman asked Lowndes about the possibility that fire aid “has something to do with increasing the […]
5 ways the debt limit fight could play out under Trump
President-elect Trump and Congressional Republicans are planning how to deal with the national debt ceiling this year. The debt ceiling, which limits the amount the Treasury can take on to pay the nation's bills, was reset earlier this month after being suspended for the past year and a half. The national debt currently exceeds $36 […]
Biden announces one more round of student debt forgiveness — bringing total to 5 million recipients at $183B cost
WASHINGTON – Outgoing President Biden announced Monday that his administration will forgive federally owned student loans for an additional 150,000 borrowers. This would cost taxpayers an additional $4.23 billion and bring the total number of recipients of benefits during his term to approximately 5 million. Biden, 82, announced in January that he had ordered the […]
House GOP lawmakers raised alternative debt limit plays in huddle with Trump
President-elect Trump and House Republicans in favor of raising the cap on state and local tax (SALT) deductions spoke at a meeting in Mar. We discussed the abolition of . Lago was arrested last weekend, U.S. Rep. Nick Larota (RN.Y.) and three other sources told The Hill. LaLota and two sources said the conversation included […]