#mmt #USdebt #economics #debt #deficit #USpol
The Debt Scolds are Back. For Now. - by Stephanie Kelton https://stephaniekelton.substack.com/p/the-debt-scolds-are-back-for-now
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#mmt #USdebt #economics #debt #deficit #USpol
The Debt Scolds are Back. For Now. - by Stephanie Kelton https://stephaniekelton.substack.com/p/the-debt-scolds-are-back-for-now
Analysis: "The Debt Scolds are Back. For Now."
What explains the renewed angst over government debt?
Maybe bcz:
*Musk keeps tweeting that “America is going bankrupt";
*House republicans are looking to raise the debt limit while enacting sweeping tax cuts & beefing up spending on borders, etc;
*U.S. Treasury's website uses inapplicable & reckless metaphors to “explain” the national debt.
https://stephaniekelton.substack.com/p/the-debt-scolds-are-back-for-now
Analysis: "The Debt Scolds are Back. For Now."
What explains the renewed angst over government debt?
Maybe bcz:
*Musk keeps tweeting that “America is going bankrupt";
*House republicans are looking to raise the debt limit while enacting sweeping tax cuts & beefing up spending on borders, etc;
*U.S. Treasury's website uses inapplicable & reckless metaphors to “explain” the national debt.
https://stephaniekelton.substack.com/p/the-debt-scolds-are-back-for-now
Some ideas about lowering US debt from @pluralistic that add up to:
"$1.4215t/year without even breaking a sweat, just by tacking (some of) the country's worst looting and tax evasion." "There's plenty of scenarios where interest payments result in the remaining $580b/year in savings, bringing the total up to $2t." "Now, sucking $2t/year out of the US economy all at once..." would hurt the economy, so best to phase cuts in over time.
https://pluralistic.net/2025/01/27/beltway-bandits/#henhouse-foxes
Concerned about the US debt dilemma—a ticking time bomb fueled by skyrocketing debt and potential foreign sell-offs. Despite Fed rate cuts, yields are rising, signaling market fears that Trump’s inauguration may bring aggressive fiscal shifts. Higher yields mean more expensive borrowing, deepening deficits, and a paradoxical cycle where efforts to stimulate growth could exacerbate fiscal woes. Are we nearing a point where the safe-haven status of US Treasuries unravels under mounting investor skepticism? The stakes are high for US debt sustainability. Thoughts?
Gold surged to a record $2,785/oz as election uncertainty and weak economic data push safe-haven demand. With a close U.S. race and a $1.8T deficit, markets turn to gold. Upcoming job, GDP, and inflation data could impact #Fed moves.
For 99% of Americans, a vote for Trump is a vote to fuck yourself.
Trump’s Plans Could Increase U.S. Debt While Raising Costs for Most Americans
https://www.nytimes.com/2024/10/07/us/politics/trump-economic-plans-debt-costs.html?unlocked_article_code=1.QU4.a7AV.Aap0oTFVfXzz&smid=url-share
If you are waiting on some advanced notice from the MSM, they've already given it to you in articles like this. Or the FDIC openly admitting that crashes and failures should be handled on a Friday night so the peons have no recourse.
https://medium.com/@sara_causey/everythings-fine-until-it-isn-t-5d227ddafa92
The US 5-Year Note auction yield came in at 4.331%, lower than the previous 4.553%. #USDebt #TreasuryAuction
Trump added more debt than Biden
Badge:
Source: https://linktr.ee/NextStory
Without the petrodollar the
government can't push off
American debt
to other countries
IMO, this guy seems to be the king of "Don't worry about it. Your overlords are in control." Look, I agree with the idea that the fat cats live by a different set of laws and expectations than the common person. They can steal, kill, and destroy and never get punished. They don't have to use moral hazard. However, that does not mean that the bill will not eventually come due.
https://medium.com/@sara_causey/the-fat-cats-believe-you-ruined-the-economy-08f7c11772f5
Biden administration seeks to remove medical debt from Americans’ credit reports
The U.S. Consumer Financial Protection Bureau says the move would remove up to US$49 billion in medical debts from the credit reports of 15 million Americans.
#globalnews #USNews #Credit #MedicalDebt #USdebt
https://globalnews.ca/news/10561098/us-medical-debt-credit-reports-rule/
Finally started https://findingmoneyfilm.com. Got interrupted by company arriving early so I’ll have to finish later. However I’ve got to share this:
#Biden economist Jared Bernstein at about 10:45 seemed legitimately confused about whether #UStreasury #bonds are lending or borrowing! Flummoxed. Looked like he’d taken a 10mg edible because he’d forgotten he had an interview scheduled.
#China sold a record amount of Treasury and US agency bonds in the first quarter, highlighting the Asian nation’s move to diversify away from #AmericanSssets as trade tensions persist.
China Sells Record Sum of #USDebt Amid Signs of #Diversification
https://finance.yahoo.com/news/china-sells-record-sum-us-040447496.html
The question posed by the report is where will the money come from to pay down the debt?
#IMF says #USdebt creating “significant risks” for the global economy - World Socialist Web Site
The growth of US debt, coupled with the instability in the financial system, is starting to raise questions about the role of the dollar as the global currency, the maintenance of which is an existential question for US hegemony.
A report by the Congressional Budget Office on the soaring US government debt has raised questions as to how long the dollar can continue to function as a stable base for the global monetary system.
Breaking: The U.S. national debt has hit a record high, crossing the $34 trillion mark for the first time in history. A critical milestone in the nation's financial landscape. #USDebt #EconomicUpdate