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Tag: debt

A U.S. National Debt Odyssey

The question of debt and deficits has been vexing the US political system since chronic deficits began to be realized after the Great Society legislation of the 1960s.  But while troublesome, the issue has moved apparently to irrelevancy. The term “existential threat” gets tossed around easily today while the real existential threat is right in […]

Goldman Sachs CEO David Solomon raises alarm on US debt

Goldman Sachs CEO David Solomon said U.S. policymakers needed to put more “focus” on the country’s ballooning debt and budget deficit, adding that the federal government’s “unfettered “The ability to spend is not unlimited.” “The U.S. debt level is [and] “There needs to be more focus and more dialogue on the level of spending than […]

Mike Lee sounds off on US national debt, spending

Republican Sen. Mike Lee of Utah is sounding the alarm about the high interest rates on the national debt. “We’re so fucked up. And we’re glued together. We’re tattooed. We’re going to pay more than $1.1 trillion in interest this year. That’s the result of decades of reckless, hegemonic It’s a result of control,” Lee […]

Bidenomics Sinks Gen Z Even Deeper into Unprecedented Debt

High interest rates and crippling inflation brought about by President Joe Biden’s disastrous economic policies mean young people are carrying more credit card debt than previous generations. “Housing inflation has proven to be one of the most troubling factors driving up the cost of living, with rents exceeding salaries in all but six of the […]

Gen Z has an average of $2,834 in credit card debt

An alarming new report says that inflation-stricken Gen Z faces significantly higher debt burdens than Millennials did when they were their age. The average credit card balance for Zoomers aged 22 to 24 in their prime years was $2,834 in the final quarter of 2023, compared to an inflation-adjusted average balance of $2,248 during the […]

Most borrowers delay major life events because of student loan debt: survey

A recent study shows that student loan debt is the reason many people are delaying important life milestones like graduating from college. (iStock) For most student loan borrowers, borrowing money to attend college closes the door on many important life milestones, including completing a degree program, according to a recent Gallup poll. Said. Overall, 71% […]

What the rising US debt means for Americans

While the nation’s more than $34 trillion debt remains a top concern for some on Capitol Hill, polls show Americans are also becoming increasingly concerned about the nation’s balance sheet. . Opinions are sharply divided in Washington over how to tackle the nation’s budget deficit, but there is momentum within House Republicans to call for […]