Tag: debt
Is the Presidential Election Winner Ready to Face a Mammoth Debt Crisis?

Writing in Foreign Policy, economist Dambisa Moyo paints a nightmare scenario of what is waiting for the next U.S. President:

National Debt to Nearly Double GDP by 2050

The Congressional Budget Office has finally released its 2020 Long Term Budget Outlook. Delayed for months, the CBO’s budget analysis confirms the coronavirus recession has made the U.S. government’s fiscal situation much worse. How much worse? In its 2019 outlook, the CBO expected the publicly held portion of the debt would hit 144 percent...
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The Financial Virus Will Infect Our Politics

One does not need to be prescient to understand that the consequences of the U.S. government’s financial response to the coronavirus will be momentous. The U.S. Federal Reserve recently announced nine new “facilities” (lending programs) and its balance sheet has surpassed the $6 trillion mark. Even the maniacal asset-buying of the post-financial crisis years...
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A Growing Mountain of Debt

Long after the pandemic ends, the debt accrued from the government’s response will still be with us.

The Rise of Zombie Governments

State gov.s omit pension obligations to hide insolvency.

Mounting Debt Isn’t Just Italy’s Problem

The United States has serious debt problems that have not been addressed since the financial crisis shook the world a decade ago—they have actually been compounded.

Forgive and Forget Won’t Fix College Debt

“Free” college and loan forgiveness are increasingly popular ideas. According to a recent AOL News poll, for example, 49 percent of respondents believe every state should offer free four-year public college tuition. Another poll by MoneyTips.com found that nearly 42 percent of respondents favored forgiving all student loan debt. Such results are understandable. After...
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Trump and Clinton Are Both (Partly) Right on Economics

Neither of the major party presidential candidates is a font of economic wisdom. However, if you look hard enough, you can find a glimmer of truth in some of their rhetoric. In this post I’ll analyze two of the issues raised by the candidates, showing how each contained some truth but also confusion. Economic...
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Let’s Start a Tax Revolt with Our iPhones

Tax Day is upon us and at the federal level we’re told that Washington spends $3.5 trillion a year. The annual federal deficit stands at $514 billion. The national debt has climbed to $17.6 trillion. All of these numbers are staggering, and that’s the problem. Few people can relate to such large numbers because...
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California’s Immoral Mountain of Debt

California Gov. Jerry Brown has proposed a $155 billion state-spending plan for fiscal year 2014-15, which includes billions to pay down debts. Unfortunately, Brown’s debt proposal doesn’t go nearly far enough. In the proposed budget, Brown said: In 2011, the Wall of Debt’s level of outstanding budgetary borrowing totaled $34.7 billion.... The debt has...
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  • Catalyst
  • MyGovCost.org
  • FDAReview.org
  • OnPower.org
  • elindependent.org