US Debt Crisis: Interest Payments Balloon to Overtake Defense Spending, Now 3rd Biggest Expenditure
Interest payments are projected to exceed defense spending for the first time, bringing a newfound sense of urgency to the U.S. debt crisis.
Tag: debt
Major Retailer Files for Chapter 11 Bankruptcy After 81 Years in Business
According to the company, it intends to use its bankruptcy to reorganize and to stay open for the long haul.
Biden Cancels Big Chunk in Student Loan Debt for Over 100,000 Borrowers
The Biden administration also said it would hold schools “accountable for leaving students with unaffordable debts.”
Rep. Chip Roy Lays Out Problems He Has with McCarthy-Biden Debt Ceiling Deal
GOP Rep. Chip Roy of Texas, who sits on the powerful Rules Committee, is urging all Republicans to reject the McCarthy-Biden debt ceiling deal.
McCarthy Cites Key Stats to Show It's Spending, Not Revenue That's Causing Debt Problem
House Speaker Kevin McCarthy offered two key statistics to show the federal government has a spending not a taxing problem.
Levin Takes Apart Biden's 'Preposterous' 14th Amendment Debt Increase Plan
Fox News host Mark Levin dismantled President Joe Biden's plan to invoke the 14th Amendment to increase the nation's deficit spending.
McCarthy: US Now Owes More Than Entire Economy Makes in Year, Can't Continue This Way
Kevin McCarthy highlighted this week that the nation's debt exceeds the size of the entire economy as large annual deficits are projected.
Senate Republicans Just Made It Harder for Biden to Ignore House GOP Budget Cut Demands
Senate Republans sent a letter to Majority Leader Chuck Schumer Saturday stating they will not vote for a debt ceiling increase without spending cuts.
Washington Post Fact Checker Destroys Biden's Ridiculous VA Budget Cut Claims
The Washington Post took Joe Biden to task for falsely claiming the Limit, Save, Grow Act passed by the House GOP last week would cut veterans' benefits.
CBO Director: Federal 'Debt Trajectory Is Unsustainable,' Something Has to Give
CBO Director Phill Swagel briefed reporters Wednesday about the fiscal challenges the U.S. faces if it keeps spending at current levels.
Jeffries Lies About Biden's Record Regarding Inflation, Growth, Wages and Deficits
House Minority Leader Hakeem Jeffries claimed that the economy under Pres. Joe Biden and the Democrats is better than it was Donald Trump and the GOP.
Rand Paul: Dem and GOP Lawmakers Are Creating Inflation, Bankrupting America with Omnibus
"You would think that nearly two years of 40-year-high inflation would create some hesitation," Sen. Rand Paul wrote.
McConnell Working to Cut Massive Spending Deal with Dem Congress, Bypassing Incoming GOP Majority
Senate Minority Leader Mitch McConnell is working with Democrats to pass a $1.7 trillion spending bill to fund the federal government through FY '23.
Biden Claims $5.8T Budget Proposal Cuts Deficit And Reduces 'Inflationary Pressures'
President Joe Biden's budget calls for $1.8 trilion more in total spending than total federal revenues for fiscal year 2021.
Buttigieg Backs Pelosi's Bizarre Argument Government Spending Reduces National Debt, Inflation
"It’s a fiscal policy success that our economy is growing and growing in a better way than most any other developed country," Buttigieg said.
Biden Makes Up Story About Manchin And Build Back Better Negotiations
Sen. Joe Manchin has consistently cited concerns about the current high rate of inflation and deficit spending for his opposition.
Biden's $3.5T 'Human Infrastructure' Bill Would Strengthen China
'Cutting taxes on American employers was a central part of our efforts to bring jobs and factories back home to the United States.'
Biden Admits He's Considering the 'Nuclear Option' to Thwart Republicans and Raise the Debt Ceiling
Democrats are looking at new scorched-earth tactics to get their way with their proposed budget and mire America deeper in debt.
Gingrich Highlights Dems' Deceptive Budget Trick Used to Bring $3.5T Reconciliation Bill's Price Tag Down
'That would shrink the whole bill. It’d be a lie. But it would shrink the whole bill,' former House Speaker Newt Gingrich said.
Joe Biden Loses Touch with Reality, Says His $3.5 Trillion Plan Costs 'Zero Dollars'
'My Build Back Better Agenda costs zero dollars,' the president claimed about his massive spending plan being hotly debated in Congress.
Treasury Secretary Breaks the Bad News: USA Is on Course to Be Broke by October
Uh, oh, the nation's credit card has been cut up. That's okay - Congress will just make another one. Boom! The spending resumes.