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National debt News

Op-Ed: What would happen if the UK National Debt were cancelled?

London - What would happen if the United Kingdom were to default on its National Debt? Some people would like us to believe the sky would fall.
In the Media by Alexander Baron - 3 comments

Op-Ed: Economics Paper - U.S. national debt is really $70 trillion

San Diego - Is the United States national debt $17 trillion, $70 trillion or $222 trillion? That is the question on many observers' minds. Either way, economists of the Austrian persuasion concur that something has to be done.
In the Media by Andrew Moran

Two Budgets; Two Visions

The US Senate has passed its first budget in over 4 years. A largely symbolic measure in response to the recently passed budget by the US House, it came after a marathon voting session and highlights two radically different visions for America.
In the Media by Donald Quinn

Op-Ed: The real cost of servicing the UK's National Debt

When David Cameron and others talk about paying down the deficit, do they really understand the scale of the fraud that is being perpetrated on the people of Britain, or the people of the world?
In the Media by Alexander Baron

Ross Perot: 'Last thing I ever want to see is U.S. taken over'

Plano - Ross Perot, a former third-party presidential candidate, was one of the first mainstream individuals in the United States to sound the fiscal alarm. Years later, he is now warning of a takeover and that neither presidential candidate is a good pick.
In the Media by Andrew Moran - 8 comments

Op-Ed: Drowning in debt — American arithmetic

The debt crisis has taken on a very personal face for the average American family. This piece takes a critical look at the situation faced by an average household every month, and the situation faced by a nation drowning in its own debt.
In the Media by Donald Quinn

Op-Ed: Senate hides on budget

The U.S. national debt has swelled over $5 trillion in just 3 years and the total national debt is slated to surpass $16 trillion this year.
In the Media by Larry Clifton - 6 comments

Group urges congressional term limits on 22nd amdt. anniversary

Washington - Our Generation, an American free market advocacy organization, celebrated the 61st anniversary of the 22nd amendment in the United States constitution this week. As the term limits apply to a president, the group feels it should also apply to congress.
In the Media by Andrew Moran

Op-Ed: Canada's national debt on the rise again

While preaching the gospel of deficit reduction, Prime Minister Stephen Harper has been running up the national debt to record levels.
In the Media by Daniel Lick

Ahead of debate, Ron Paul to present plan for $1 trillion in cuts

Republican presidential candidate Congressman Ron Paul is intending to present a plan on Monday to cut $1 trillion in federal spending and create a balanced budget within the third year of his presidency.
In the Media by Michael Krebs

Warren Buffett's debt plan: Apply tax increases to the mega-rich

In an opinion piece published in The New York Times, billionaire Warren Buffett offered his perspectives on tackling America's fiscal woes, focusing on individuals who earn more than $1 million annually.
In the Media by Michael Krebs - 7 comments

GOP presidential candidates tie Obama to credit rating downgrade

As news of the Standard and Poor's downgrade of America's credit rating from AAA to AA+ reverberated into the weekend, Republican presidential hopefuls used the event to showcase what they see as President Obama's flawed leadership.
In the Media by Michael Krebs - 1 comment

Global markets crash as congressional job disapproval hits high

With the Dow Jones Industrial Average posting its biggest one-day decline since December 2008 on Thursday in lock-step with global market sell-offs, a new poll demonstrated the vast disapproval Americans have for their legislators.
In the Media by Michael Krebs - 2 comments

Ron Paul: Real debate on debt ceiling is about increased spending

In his weekly telephone address, Republican Presidential Candidate Ron Paul contends that the debt ceiling debate is about how much to increase federal spending and not about how much federal spending to cut.
In the Media by Michael Krebs - 2 comments

Senate Democrats reject House debt bill, Obama tweets the issue

Washington - After the House passed Speaker Boehner's debt ceiling extension plan, Senate Democrats rejected it outright and spurred further uncertainty just days before the August 2 deadline.
In the Media by Michael Krebs

Op-Ed: Thanks for the debt ceiling problem, Wall Street

The cause of the debt ceiling debate has been largely ignored. The root cause doesn't stem from Capital Hill. It's from a street 228 miles hard north.
In the Media by Kelly Bowlin - 1 comment

Boehner claims Senate debt ceiling bill has 'phony accounting'

Washington - With the August 2 debt ceiling deadline just a week away, Speaker John Boehner (R-OH) and Senate Majority Leader Harry Reid (D-NV) presented their slightly different bills within their respective congressional chambers.
In the Media by Michael Krebs - 1 comment

In midst of debt ceiling debate, Obama is losing his voter base

Washington - As the fallout from the debt ceiling impasse intensified on Tuesday, President Obama's overarching policies appear to have alienated his remaining voter base.
In the Media by Michael Krebs - 3 comments

Obama rejects bipartisan debt plan, spurs impeachment planning

Washington - As the debt ceiling crisis spooked global markets and reports surfaced of President Obama's rejection of a bipartisan plan, talk of impeachment is circulating among congressional circles.
In the Media by Michael Krebs - 17 comments

Ron Paul: Go ahead and default, we've done it three times before

As the political theater on the federal debt ceiling peaked moving into the weekend, Republican presidential candidate Ron Paul sought to downplay the Armageddon-like impact of a default.
In the Media by Michael Krebs - 4 comments

Boehner walks out of talks, says Obama demanded more revenue

Speaking at a news conference on Friday, House Speaker John Boehner (R-OH) explained his decision to walk away from the debt ceiling talks and said it was the president who walked away from the original agreement between them.
In the Media by Michael Krebs - 6 comments

Reid: House bill on balanced budget amendment 'senseless'

After the Republican-controlled House submitted its debt ceiling bill tethered to a balanced budget amendment, Senate Majority Leader Harry Reid (D-NV) promised its demise in his legislative chamber.
In the Media by Michael Krebs - 6 comments

Op-Ed: The Debt Ceiling, How Republicans Need to Save Themselves

As the debt-ceiling deadline looms, Republicans need to step the plate and save themselves. Contrary to popular rhetoric, the current debt crisis is not the fault of Democrats or Republicans. It’s the economy stupid!
In the Media by Kelly Bowlin - 8 comments

Gary Johnson: Republicans need to stand firm on debt ceiling

Appearing on Fox Business News on Friday, former New Mexico governor and Republican presidential candidate Gary Johnson urged Republicans to stand firm on the debt ceiling talks to get the right deal done now.
In the Media by Michael Krebs - 2 comments

McConnell wants balanced budget amendment with debt ceiling talks

As President Obama hosted another debt ceiling press conference on Friday and outlined his opposition to a balanced budget amendment, Senate Minority Leader Mitch McConnell made a case for why the amendment is needed.
In the Media by Michael Krebs - 1 comment

With U.S. unemployment at 9.2%, Fed considering more stimulus

Despite stubborn unemployment in the wake of prior stimulus plans, Federal Reserve Chairman Ben Bernanke informed Congress on Wednesday that the federal government is prepared for future stimulus programs.
In the Media by Michael Krebs - 3 comments

U.S. debt ceiling talks appear to be falling apart

As the August 2 deadline gets closer, it now appears that the partisan divide over the national debt ceiling between President Obama and his Democratic allies in Congress and Republican lawmakers is widening.
In the Media by Michael Krebs - 5 comments

In 75-minute meeting, GOP holds 'fundamental principles' on debt

After a meeting at the White House that lasted just 75 minutes on Sunday evening and produced no tangible results, House Speaker John Boehner (R-OH) insisted that the GOP's 'fundamental principles' must be upheld.
In the Media by Michael Krebs - 4 comments

Pelosi upset with compromise, meeting with Obama on Friday

After President Obama publicly spoke on the nature of the talks with Republican lawmakers over the nation's debt ceiling on Thursday, House Minority Leader Nancy Pelosi expressed alarm over potential compromises ahead of their meeting on Friday.
In the Media by Michael Krebs - 1 comment

Boehner expresses concern over possible 'fruitless' Obama talks

House Speaker John Boehner (R-OH) expressed concern on Tuesday over the 'fruitless' nature of debt management talks with President Obama should the president insist on $400 billion in tax hikes.
In the Media by Michael Krebs - 6 comments
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This is a graph of U.S. gross federal government debt from 1981 to 2012 (est)  as a percentage of GD...
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This is a graph of U.S. gross federal government debt from 1981 to 2012 (est), as a percentage of GDP, color coded by congressional control and highlighting presidential terms. The data is from the U.S. Office of Management and Budget
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