Tuesday, November 5

Tag: debt

U.S. Treasury Secretary Warns — Again — About Breach Of Debt Limit
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief, United States

U.S. Treasury Secretary Warns — Again — About Breach Of Debt Limit

Photo by Alexander Schimmeck, courtesy Unsplash U.S. Government Likely to Run Out Of Cash By October Without Act of Congress September 9, 2021--U.S. Treasury Secretary Janet Yellen wrote another letter to leaders of Congress yesterday, pleading for lawmakers to authorize a higher level of government spending than the $28.7 trillion currently owed. Having breached the last debt limit long ago, Treasury is relying on extraordinary measures, such as suspension of making payments to certain disability and benefits funds and thrift savings plans, to pay its bills. Like Yellen's last letter in July, the Sept. 8 letter does not mention the amount of the current U.S. debt. Neither does it mention that the U.S. government surpassed the last debt limit of $22 trillion long ago. Congre...
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

Global Debt Rises to $188 Trillion

In case you missed it... (We did!) Jan. 21, 2020-Global debt rose by $3 trillion in 2018 to reach $188 trillion, according to data released late last month by the International Monetary Fund. The data suggests many countries will be "ill-prepared" for the next economic downtown, an IMF blog post asserted. Referencing the data in an interview today with CNBC, IMF chief Kristalina Georgieva said the low interest rates fueled higher risk investments, such as stocks. She added that loose monetary policies are responsible for a significant amount of global growth.

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