Wednesday, November 6

Tag: national debt

Path To Normal For ECB Poses Challenges To High Debt Countries
15Jun By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Europe, EU, Eurozone, Types of News: Bit

Path To Normal For ECB Poses Challenges To High Debt Countries

June 15, 2022— As the central bank for the Eurozone pursues a path to normal policies, the risk it now faces is uneven impact among the 19-member countries. Borrowing costs in so-called vulnerable countries like Italy, Greece, and Spain are soaring in response to monetary tightening last week by the European Central Bank (ECB). Now fragmentation of the Eurozone is a concern. As a result, the ECB announced today it is adjusting its plans. For one, the ECB will consider the vulnerabilities when reinvesting payments maturing from its pandemic relief program, known as PEPP. Those reinvestments of maturing PEPP payments are scheduled to continue through 2024. The program's worth is estimated at 1.85 trillion euro ($1.9 trillion), according to the New York Times.
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U.S. Government To Breach $22 Trillion Debt Limit By August 1
29Jul By Patti MohrNo Comments
Global Economics, Types of News: Brief, United States

U.S. Government To Breach $22 Trillion Debt Limit By August 1

Total Public Outstanding Debt Is $28.4 Trillion Photo by Alexander Schimmeck. July 29, 2021—The United States government is expected to run out of borrowing authority on August 1. That is two to three months sooner than expected. As a result, beginning tomorrow, July 30, the Treasury will suspend sales of certain securities. The debt limit, however, is actually not so simple. Significantly, the implications are larger than sales of securities. Already Exceeding the $22 Trillion Limit Treasury Secretary Janet Yellen wrote to Congress late last week, asking lawmakers to either increase the current limit or continue suspending it. She said that would "simply allow Treasury to pay for previously enacted expenditures." Reaching the debt limit occurs every few years. It means ...
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US Debt Tops $22 Trillion as Lawmakers Deliver New Deal
23Jul By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Domestic Politics, Global Economics, Types of News: Brief, United States

US Debt Tops $22 Trillion as Lawmakers Deliver New Deal

July 23, 2019--U.S. lawmakers agreed to raise the limit on incurring national debt to $22 trillion to July 31, 2021. They also agreed to a two-year budget agreement that increases spending by $320 billion. Democratic House Speaker Nancy Pelosi called it a "bold, bipartisan and a victory for Democrats and the American people." President Donald Trump said in a tweet the deal is "a real compromise in order to give another big victory to our Great Military and vets." According to Pelosi's statement, the deal increases both defense and non-defense spending and avoids a government shutdown. The U.S. national debt has risen from $11.9 trillion in 2009 to $22 trillion in 2019. Meanwhile, the interest on the debt (marketable non-government) has risen from 2.28 percent to 2.5 percent in th...
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