Debt Up $2 Trillion in 1 Year of Biden
When President Joe Biden was sworn in on Jan. 20, 2021, the federal government’s debt stood at $27,751,896,236,414.77. When his first year in office ended on Jan. 20, 2022, it stood at $29,867,021,509,573.92.
debt
IMF Warns of Interest Rate Risks as Global Debt Surges to Record $226 Trillion
The International Monetary Fund (IMF) has warned of interest rate risks with regard to the growing mountain of global debt, which jumped to a record $226 trillion in 2020 as governments unleashed unprecedented waves of stimulus spending to blunt the effects of the COVID-19 pandemic recession.
Senate Democrats pass debt-ceiling hike of $2.5 trillion just in time to avoid catastrophe — and without any Republicans
The Senate voted to raise the debt ceiling on Tuesday, advancing a crucial measure just before the US government risks defaulting on debt it has already incurred.
Senate vote clears way for Democrats to raise debt ceiling on their own
The Senate passed a measure to create a one-time rule change on Thursday to allow Democrats to pass legislation to raise the debt ceiling with just 51 votes ahead of next week’s deadline.
House passes legislation to increase debt ceiling
The House voted 222-212 on Tuesday to approve procedural legislation allowing the Senate to raise the debt ceiling.
Yellen Warns Dec. 15 New Estimated Date for U.S. Debt Default Unless Congress Acts
In just about a month’s time, the United States could be unable to pay its bills, according to a new warning from Treasury Secretary Janet Yellen.
China’s Communists Extend Power Of Leader Xi In Warning To Christians (Worthy News Analysis)
In a move worrying Christians, China’s Communist Party elevated Chinese autocratic President Xi Jinping to a crucial figure in its 100-year history.
Biden’s social-welfare bill could cost over $4 trillion, budget hawks warn
Two leading fiscal watchdogs are raising alarms about the true cost of President Biden’s social welfare and climate change bill, arguing the total price tag is far higher than the $1.75 trillion that Democrats have estimated.
Moldova, Europe’s Poorest Nation, Facing Gas Crisis
Europe’s poorest nation is immersed in a natural gas crisis. Moldova’s government says Russia threatens to take off natural gas supplies if it does not pay hundreds of millions of dollars ahead of winter.
House passes short-term debt limit increase, setting up new December showdown
The House voted Tuesday to extend the nation’s borrowing limit until early December, clearing the measure for President Joe Biden’s signature and averting a default that Treasury Secretary Janet Yellen warned could happen as soon as Oct. 18.
Controversial Czech Prime Minister Loses Elections
In a significant political setback, Czech Prime Minister Andrej Babis’ ANO party lost the elections after revelations that he had hidden millions in taxable assets.
Senate reaches deal to raise debt-ceiling until December
Senate Majority Leader Chuck Schumer said Thursday that he and others on his Democrat leadership team have reached an agreement with Senate Republicans to extend the federal debt ceiling through early December.
McConnell offers support for short-term extension of debt ceiling, compromise with Senate Democrats
Senate Minority Leader Mitch McConnell on Wednesday offered a short-term suspension of the U.S. debt ceiling to avoid the U.S. defaulting on its debt in the coming day, resulting in a potential economic crisis.
House Democrats narrowly pass legislation to suspend debt ceiling
House Democrats on Wednesday narrowly passed a stand-alone bill to suspend the debt ceiling, likely averting a government shutdown Thursday but leaving open the possibility that the U.S. could default on its debts next month.
Republicans block bill that would keep government open, suspend debt ceiling
Republican senators on Monday night blocked a measure that would keep the government running and would suspend a ceiling on debt, frustrating but not stamping out their Democrat colleagues’ efforts to avert a shutdown.
Report: Biden Spending Bill Will Lead to Loss of 5.3M Jobs, $3.7T in Debt
President Joe Biden’s massive spending bill will lead to 5.3 million job losses and $3.7 trillion in additional debt over the next 10 years, according to study published Monday by the Texas Public Policy Foundation titled, “Reversing the Recovery: Pelosi’s Plan to Raise Taxes, Kill Jobs, and Punish the Middle Class.”
‘Germany’s Merkel Conservative Block Losing Elections, Leftists Win’
In a postwar political turnaround, Germany’s center-left Social Democrats (SPD) were moving towards election victory, as projected results appeared bleak for the party of outgoing Chancellor Angela Merkel.
China asks local goverments to get ready for possible collapse of Evergrande
Chinese authorities are asking local governments to prepare for the potential downfall of China Evergrande Group, according to officials familiar with the discussions, signaling a reluctance to bail out the debt-saddled property developer while bracing for any economic and social fallout from the company’s travails.
US House votes overwhelmingly in favor of Iron Dome funding, trounces Squad
The House Democratic leadership on Tuesday nixed funding for the defense system from its government spending and debt ceiling hike bill after a group of progressive lawmakers threatened to block the legislation unless the military aid was withdrawn.
$1 billion in Iron Dome funding introduced in Congress as separate bill
US Democrats introduced standalone legislation late Wednesday to provide Israel with $1 billion for its Iron Dome missile defense system after the funding was struck off a government spending bill amid pressure from progressive lawmakers.