How the Fed's inflation fight inflames the national debt
The Federal Reserve’s inflation-fighting measures are fueling a rise in the national debt as the central bank prepares to keep interest rates high for a long time. Inflation has fallen sharply since the Fed raised interest rates to their highest level in 20 years last year, but officials remain concerned about how quickly prices are […]
US judges block parts of key Biden student debt plan
President Biden’s latest student loan relief package was blocked by federal courts in Kansas and Missouri on Monday following lawsuits from several Republican-led states. A nationwide preliminary injunction issued by U.S. District Judge Daniel Crabtree in Kansas and U.S. District Judge John Ross in Missouri, both appointees by former President Barack Obama, prevents the Biden […]
Trump added twice as much to the national debt as Biden: Analysis
A new analysis finds that the Trump administration’s fiscal policies pushed the national deficit by twice as much as President Biden’s policies. According to an analysis by the Committee for a Responsible Federal Budget (CRFB), a Washington think tank, the Trump administration borrowed $8.4 trillion during the former president’s term in office, while the Biden […]
How the US national debt is keeping mortgage rates elevated
Economist Peter Morici breaks down what the national debt is, why it has ballooned to more than $34 trillion, and what it means for Americans. Home buyers in the United States Federal Reserve They are eagerly awaiting interest rate cuts that could bring relief from painfully high borrowing costs. But there’s another factor that could […]
Dem staffer blasted for spending habits after going viral for thanking Biden for erasing 8K student debt
A House Democratic staffer who came under fire for praising President Biden after his $8,000 in student loan debt was cancelled is facing even more scrutiny on social media for posts that showed spending habits while earning a salary of more than $90,000 a year. “I think it’s important to be mindful of what’s going […]
Medical debt may come off credit reports soon, helping Americans qualify for more financial products
The CFPB wants to remove medical debt from the credit reports of millions of Americans. (iStock) Medical expenses may soon be removed from many credit reports, the Consumer Financial Protection Bureau (CFPB) said. Proposed the rule The bill aims to remove medical debt from credit reports and prevent debt collectors from using the reporting system […]
Democratic staffer celebrates student debt forgiveness
According to LinkedIn, Ben Kamens profileKaptur, who serves as communications director for the office of Ohio Democratic Rep. Marcy Kaptur, came under fire for celebrating student loan forgiveness and thanking President Joe Biden. “Just got a call letting me know my student loans have been forgiven. This is why the election matters. Thank you @JoeBiden,” […]
US Debt-to-GDP Ratio Worsens Further, Despite Solid Economic Growth, as Government Debt Balloons at a Scary Pace
Estimated Reading Time: 2 minutes The economy grew solidly. The debt spiked. The US government debt is measured in “current dollars,” meaning: not adjusted for inflation. So we compare it to GDP in “current dollars,” not adjusted for inflation. The hope is that the current-dollar GDP, grew faster than the current-dollar debt so that the […]
The Truth About Bidenomics: More Debt, More Inflation
Estimated Reading Time: 3 minutes Estimates of United States growth have improved but remain massively below the Federal Reserve projections. After the largest monetary and fiscal stimulus in recent years, growth remains well below trend, and debt is significantly higher. It is interesting to hear Janet Yellen say that “trickle-down economics did not work” when […]
JAMES CARTER: Dissecting The US Treasury’s Dastardly Debt Disaster
Count five seconds. The federal government spent, in those few seconds, $137,940 on interest on the federal debt. Shockingly, the $870 billion the federal government will spend on interest this year is three times greater than what the Congressional Budget Office (CBO) estimated for fiscal year 2024 just three years ago. It didn’t need to be this way. […]