Federal Reserve Chairman Jerome Powell reaffirmed on Wednesday that the "path we're on" concerning the United States national debt is unsustainable.Testifying before the House Financial Services Committee, Powell tried to clarify that he does not believe that "the level of the US debt is...
The Institute of International Finance (IIF) said on Wednesday that global debt climbed by $15 trillion in the previous year, bringing the overall debt amount to a new record high of $313 trillion.
"The global debt-to-GDP[gross domestic product] ratio declined for a third consecutive year, largely...
Businessman Vivek Ramaswamy said that Ukraine is not a democratic state and that the armed conflict between Russia and Ukraine is not a battle of good against evil. Addressing Republican voters at the presidential primary debate in Miami, Ramaswamy stated that, if he becomes US president, he...
United States Senate Majority Leader Chuck Schumer vowed on Friday that the upper congressional chamber will focus on funding the government and preventing "House Republican extremists" from causing a shutdown.
Writing in a Senate address obtained by Politico, Schumer insisted that President...
The United States' national debt climbed to $32 trillion for the first time, according to data from the Treasury. The US debt first surpassed $30 trillion in 2022, amid increased spending during the COVID-19 pandemic.
The news follows an agreement between the Biden administration and the Republican...
Democrats in the United States Congress are working on a bill that would change the way the US government handles the debt ceiling, the Wall Street Journal reported on Friday. The Debt Ceiling Reform Act should be introduced later in the day as an answer to the recent debt limit crisis that nearly...
United States President Joe Biden remarked in a column he wrote for The Wall Street Journal (WSJ) that was published on Thursday that his country's output recovery "has been the strongest of any major economy," which is why he "fought so hard to bring Democrats and Republicans in Congress...
United States Senator from South Carolina Lindsey Graham remarked that several members of the upper chamber questioned the military cuts included in the act that suspended the debt ceiling and that those concerns will have to be addressed.
"They have a point that will have to be...
United States Treasury Secretary Janet Yellen praised Congress for passing the bill to suspend the debt ceiling, stressing that such an act "protects the full faith and credit" of the country and "preserves our financial leadership."
"Congress has a duty to ensure that the United States can pay its bills on...
United States Senate Minority Leader Mitch McConnell welcomed the Congress' decision to suspend the debt limit under the previously negotiated conditions, stressing that the bill "begins to curb Washington Democrats' addiction to reckless spending that grows our nation's debt."
"Tonight, the...
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