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U.S. national debt surpasses $34 trillion

U.S. News // 1 year ago

U.S. national debt surpasses $34 trillion

The U.S. national debt surpassed $34 trillion this week, marking a grim milestone as federal debt continues to rise at a record pace under persistent annual deficits, according to the Treasury Department.

CBO: Biden's plan to cancel student debt to cost $400B over 30 years

U.S. News // 2 years ago

CBO: Biden's plan to cancel student debt to cost $400B over 30 years

President Joe Biden's plan to alleviate the burden of student debt shouldered by millions of borrowers could cost the United States some $400 billion over the next 30 years.

Congressional Budget Office: Federal deficit hit $3.1T for fiscal year 2020

U.S. News // 4 years ago

Congressional Budget Office: Federal deficit hit $3.1T for fiscal year 2020

The Congressional Budget Office on Thursday released an estimate stating the U.S. federal deficit hit $3.1 trillion for the fiscal year 2020.

Federal deficit reaches $2.8T, breaking annual record

U.S. News // 4 years ago

Federal deficit reaches $2.8T, breaking annual record

The federal deficit rose to $2.8 trillion through the end of July, breaking an annual record within the first 10 months of the fiscal year 2020.

Social Security won't be able to pay full benefits in 17 years

U.S. News // 7 years ago

Social Security won't be able to pay full benefits in 17 years

The Social Security and Medicare trust funds will be insolvent by 2034 unless Congress acts, an annual report by the Treasury Department predicted.

U.S. News // 1 decade ago

The Issue: Debt limit showdown averted

Could that have been a real-life "House of Cards" playing itself out in Congress last week when lawmakers approved a year-long suspension of the debt limit and restored military pension cost-of-living cuts with a minimum of fuss and bother?

U.S. News // 1 decade ago

Industry responds, ready to work with Obama on jobs, economy

The non-partisan Campaign to Fix the Debt said Tuesday it was disappointed President Obama didn't prioritize debt reduction in his State of the Union speech.

U.S. News // 1 decade ago

The Issue: Budget deal moves to Senate; new era of compromise?

Washington witnessed a Christmas miracle last week: House adoption of a budget compromise worked out by House-Senate negotiators after Speaker John Boehner bluntly told recalcitrant members of his caucus to toe the line or lose all credibility.

U.S. News // 1 decade ago

'Fiscal cliff'' deal elusive

Congressional "fiscal cliff" negotiations dragged on in Washington Saturday night with the New Year's Day deadline looming.

U.S. News // 1 decade ago

Report: 3 GOP candidates would up debt

Policies backed by three of the four remaining GOP presidential candidates would increase the national debt trillions of dollars, U.S. Budget Watch said.

Quotes

There's a huge risk of another economic crisis, a debt crisis, once we get on the other side of this one
Deficit spending worries bailout critics Nov 30, 2008

There are times when you need to run up the deficit and this is one of them
U.S. deficit could hit $1 trillion Oct 16, 2008

Following the presidential debate where more attention was given to the candidates' wives than to the budget deficit and to flu vaccines than to how to pay for the retirement of the baby boomers, it is hard to see where the leadership to put the country back on the path of fiscal responsibility will come from
Candidates slammed on budget deficit Oct 14, 2004