Lawmakers caught off guard by Trump debt ceiling demand
Lawmakers on both sides of the aisle on Wednesday rejected a sweeping bipartisan plan to avert this week's government shutdown and called for a combination of raising the debt ceiling and a stopgap government funding bill. It seemed like he was caught off guard. President Trump said in one article: joint statement Vice President-elect J.D. […]
Trump: Republicans who back spending bill without debt increase should face primary
President-elect Trump on Wednesday put the debt ceiling issue at the center of efforts to keep the government open, calling on Republican lawmakers to support a continuing resolution that does not include raising the debt ceiling to confront key challenges. President Trump on the same day called on Republicans to approve a clean emergency funding […]
Two new student debt relief programs from Biden barrel towards imminent release
As the Biden administration enters its final stages, two new student debt relief programs face imminent termination as they undergo final reviews before formal implementation. The two programs include a second attempt to provide sweeping student loan forgiveness to millions of borrowers under the Higher Education Act, colloquially known as “Plan B.” There is. This […]
House passes nearly $1 trillion defense spending bill, adding to US debt of $36 trillion
House Veterans: There is bipartisan support for reducing the national debt Rep. Cory Mills, Republican of Florida, and Rep. Seth Moulton, Democrat of Massachusetts, appeared on “Fox News Sunday” to discuss future payments from the United States to Ukraine, military spending and the balance of the national debt, and the Pentagon. We discussed the company's […]
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 […]