us debt News
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Washington -
As part of the fiscal cliff deal, automatic across the board cuts to spending, were put off until March 1. However, this leaves less than a month to work out a deal on a larger package or a smaller deal that would again postpone the cuts.
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Washington -
Timothy Geithner, U.S. Treasury Secretary, said that the debt ceiling should be abolished as soon as possible. Geithner said that the debt ceiling was used as a lever for political advantage and that this was not a tenable strategy.
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Washington -
The Congressional Budget Office(CBO) has just issued a report showing that if an agreement is not reached to avoid the fiscal cliff, the U.S. economy could drift back into a recession and the jobless rate could rise to over 9 percent by the end of 2013.
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Berlin -
A four-year, nearly $6 trillion leap in U.S. debt brings the total U.S. deficit to $16 trillion, which has prompted German Finance Minister Wolfgang Schaeuble to highlight the global impact of November’s U.S. elections.
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Washington -
The Treasury Dept. website showed the debt at $15.99 trillion Thursday afternoon but then closed for the Labor Day weekend. The $16 trillion mark will be hit Sept 4 just as the Democratic Convention convenes in Charlotte N.C.
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The United States, the world's largest economy, suffered a major economic setback on Friday, losing its AAA rating from the credit rating agency Standard & Poor's.
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Arlington -
A US government report reveals the Afghan and Iraqi governments are unable to operate or pay for themselves, causing a threat of “billions of dollars of new waste” for US taxpayers under attack by politicians refusing to acknowledge the overseas war.
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Washington -
In what has to be described as the most pathetic displays of political leadership, President Barack Obama and House Speaker John Boehner continue engaging themselves in a cat and mouse game, all while showing what rats they truly are.
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Washington -
The Hypocrite Circus running The World’s Least Thoughtful Democracy has struck another blow for insolvency, refusing to raise the debt ceiling without cutting spending. With this failure looms larger the possibility of a US default on debt.
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There’s no doubt that since the fall of the Soviet Union, the West’s senior morons have been looking for some sort of external threat. China is now the focus of a classic scenario: An external enemy to shift focus from the failures of the society.
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us debt Image
Kuebi=Armin Kubelbeck
Wolfgang Schäuble, German finance minister (CDU) on March 9th 2011, during a pre-election party in Bensheim (Hesse).
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