Penn Wharton analysis shows how Trump admin could reduce debt while growing economy
Kent Smetters, Dean of Budget Models at Penn Wharton, joins Barney & Company to discuss how the national debt can be reduced if research-based analysis is conducted. A new analysis from the bipartisan Penn Wharton Budget Model outlines policies that: reduce federal debt At the same time as promoting long-term economic growth, the incoming Trump […]
California’s unemployment benefits system ‘broken’ with $20B owed to feds in loan debt: report
California's unemployment insurance (UI) loan system is facing significant deficits and needs a complete “redesign,” according to a new bipartisan report. Legislative Analyst Office (LAO). The system was supposed to be self-sufficient, but it has been unable to cover its annual benefit costs, resulting in a projected deficit of $2 billion annually over the next […]
Elon Musk says there’s substantial ignorance about America’s national debt
Businessman Elon Musk has sounded the alarm about America's huge and ever-expanding national debt, but claimed many people are unaware of the problem. “A significant percentage of people don’t even know there is such a thing as a national debt!” Musk declared in a post on X. “Those who know often don't know how big […]
Illinois Has the Worst Public Pension Debt Bomb in the Country
Illinois has the worst public employee pension deficit in the country, even more so than populous California. In fact, Illinois' shortfall exceeds the shortfalls of about 36 other states combined. Illinois' shortfall to fully cover pension promises to public employees is $172 billion, worse than California's $140 billion shortfall, worse than New Jersey's $90 billion […]
How I learned to stop worrying about the national debt – even though it’s $35 trillion
Whether you're an overeducated dumbass or a high school dropout, there's a good chance the dollar numbers surrounding the U.S. debt can be confusing. Make no mistake, Uncle Sam's $35 trillion in outstanding debt (yes, that trillion with a “T”) seems like a huge number. Also consider that the total amount in 2020 was “only” […]
5 Credit Card Rules You Must Follow To Stay Out of Debt – AOL
Abdullah Durmaz / iStock.com While you can get relief with a credit card, emergencyYou don't want to end up in debt due to improper usage, as high interest rates can make repayments difficult. Find: Do student loans affect your credit? Read next: Why skipping your financial advisor can be your biggest money mistake Americans' credit […]
US national debt hits a new record: $36 trillion
Rich Dad Company co-founder Robert Kiyosaki talks about his support for Bitcoin and explains his concerns about the bond market on Kabuto: Coast to Coast. US national debt On Friday, debt exceeded $36 trillion for the first time in U.S. history as the federal government continues to accumulate debt at a record pace. According to […]
Dozens of state financial officials warn new Congress of national security implications of ignoring US debt
Exclusive: More than 30 state treasurers have sent a letter to House Speaker Mike Johnson asking for action to allay “serious concerns” about the nation's debt. A coalition of treasurers, managers and auditors will tell Johnson, R-Louisiana, that it agrees with the Arizona Republican's opinion. andy biggs The resolution declared the country's debt a “threat […]
Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom
Spirit Airlines announced Monday it will file for bankruptcy protection and try to reboot as it struggles to recover from the pandemic-induced travel slump and a failed plan to sell to JetBlue. Spirit, the largest low-cost airline in the United States, has lost more than $2.5 billion since the beginning of 2020 and is on […]
Biden pushes to finalize more student debt relief before end of term
President Biden's Education Department pushes ahead with new federal rules that would provide additional student loan forgiveness to 8 million borrowers facing financial hardship in the final weeks before President-elect Trump takes office I'm trying. If confirmed, new rules Grants one-time student loan forgiveness to people the department deems to have at least an 80% […]