House passes government funding and debt limit increase destined to hit Senate filibuster
The House passed a stopgap government funding bill paired with an increase in the federal borrowing limit that will likely face a GOP filibuster in the Senate.
debt
Sudan Coup Fails; Dozens Detained
Authorities in Sudan, where minority Christians face persecution, say dozens of military officers have been detained for an alleged coup.
Latin, Caribbean Nations Want New Bloc Outside US
The U.S. global influence was further challenged over the weekend, with several Latin American and Caribbean nations aspiring to form their bloc like the European Union.
Combined Social Security Trust Fund only 13 years away from insolvency, trustees report
The national debt is around $123 trillion (more than four times what the Treasury Department reports) when accounting for factors like amounts owed in unfunded Social Security and Medicare benefits, Truth in Accounting argues.
US Debt Limit Struggle Raises Specter of Catastrophic Default
Unless Congress votes to increase the amount of money the U.S. Treasury is allowed to borrow above its current debt of $28.5 trillion, the United States will default on its financial obligations sometime in the next several weeks, experts warn.
Global debt has reached almost $300 trillion
The Institute of International Finance (IIF) has announced that global debt reached a new record high of $296 trillion in the second quarter of 2021, with total debt rising by $36 trillion in the 18 months since the pandemic began, Zero Hedge reports. Global debt includes government, household, corporate, and bank debt but not derivatives and other exotic products.
‘Totally irresponsible’: Pelosi slams GOP for threatening to oppose debt ceiling extension
House Speaker Nancy Pelosi criticized congressional Republicans on Wednesday for threatening to oppose an extension of the federal debt ceiling, arguing that such an act is “totally irresponsible.”
Manchin Jolts Democrats by Urging ‘Pause’ on $3.5 Trillion Bill
Senator Joe Manchin is demanding a “strategic pause” in action on President Joe Biden’s economic agenda, potentially imperiling the $3.5 trillion tax and spending package that Democratic leaders plan to push through Congress this fall.
Biden Pushes for Taxpayer-Funded Abortion in Budget
President Joe Biden’s proposed federal budget throws open the door for taxpayer-funded abortion by forgoing a longstanding measure he supported as a senator.
Truth in Accounting: U.S. national debt closer to $123 trillion, nearly $796,000 per household
The U.S. national debt is closer to $123 trillion, more than four times what the Treasury Department is reporting, Chicago-based Truth in Accounting calculates in its new annual analysis of the nation’s finances.
Turmoil Over China’s First University In Hungary (Worthy News In-depth)
Political tensions are rising in Hungary over government plans to build the European Union’s first Chinese university campus in Budapest, the capital, despite security and social concerns.
White House budget spikes climate change, other spending; GOP blasts defense proposal
President Joe Biden released top-level numbers for his proposed 2022 budget Friday. The $1.5 trillion plan includes major spending increases for domestic projects while keeping defense spending essentially steady with inflation.
U.S. intelligence report warns of looming ‘catastrophic’ shocks worldwide due to tech, disease
A U.S. intelligence report is warning of a potentially grim set of scenarios in which factors like environmental issues and technology disruptions could have a significantly destabilizing effect on the global order in the near future.
Bulgaria’s Controversial Premier Wins Election But Future Uncertain
The party of Bulgaria’s longtime prime minister leading the European Union’s ranked “most corrupt nation” has won parliamentary elections but without enough votes to govern alone, initial official results showed.
Dutch Prime Minister’s Future Uncertain After Censure Over Scandal
The political future of Dutch caretaker Prime Minister Mark Rutte, one of the European Union’s longest-serving leaders, was uncertain on Good Friday after Parliament censured him for allegedly lying and undermining public trust.
Debt Up $1 Trillion in First 6 Months of Fiscal 2021
The federal debt has increased by more than $1 trillion in the first six months of fiscal 2021, according to the official figures published by the U.S. Treasury.
US-Mexico border traffickers earned as much as $14M a day last month: sources
Criminal organizations trafficking women, children, families and single adults over the U.S.-Mexico border earned as much as $14 million a day in February, according to border patrol sources.
‘A Trojan Horse for Massive Tax Hikes’? Biden’s New $3 Trillion Spending Spree Comes on Heels of $1.9T Debt-Buster
The Biden administration is reportedly putting together a multi-layered infrastructure and economic package with a potential price tag of $3 trillion.
Biden reportedly planning first major tax hike since 1993 in next economic package
President Biden is reportedly planning to include the first major tax hike in close to 30 years in the next economic spending bill set to follow his $1.9 trillion coronavirus relief package.
$100 trillion in new debt over next 30 years: CBO
The government has opened the spending spigot over the last year to deal with the coronavirus crisis — but the Congressional Budget Office says unless something changes, Uncle Sam’s freewheeling ways will last long after the pandemic is over.