nationaldebt
Many Americans are unhappy about years of higher-than-normal inflation that have sapped buying power and reduced standards of living. Now, the Congressional Budget Office (CBO) demonstrates that a difficult culprit will make you feel poorer over the next few decades: The nearly $35 trillion (and growing) national debt. At its current trajectory, the rising national debt—and the increasing burden of making interest payments on it—will reduce Americans' future income growth by 12 percent over the next 30 years, the CBO projects in a new report. That means the average person will earn about $5,00...
Reason
If you made a list of all the reasons why federal borrowing has spiraled out of control in recent years, the utter failure of Congress to pass a true budget would certainly rank near, or at, the very top. Regular Reason readers know this fact well: Since 1996, Congress has never—yes, not even once—passed a budget on time and in full. It's probably not a coincidence that the late '90s were also the last time the federal budget was anywhere close to balancing. In place of a complete budget, Congress has for decades relied upon continuing resolutions and omnibus bills. Usually, those become "must...
Reason
Comparing U.S. Federal Spending with RevenueIn 2021, the U.S. government spent $6.8 trillion on various expenditures and government-aided programs. Where was this money spent, and how much was covered by taxpayers’ dollars? Q2 2022 hedge fund letters, conferences and more Money Comes and GoesIn 2021, U.S. government revenue totaled more than $4 trillion. About half of it came from individual income taxes, while about 30% came from Social Security and Medicare taxes. Here’s a full breakdown of revenue sources in 2021: Despite the trillions in revenue generated, like most years, U.S. federal spe...
ValueWalk
Over the last 30 years, the U.S. has steadily increased its national debt from $4 trillion to $28.43 trillion through December 2021, according to government data. And it crossed the $30 trillion mark for the first time in early 2022. New economic modeling from The Concord Coalition shows that as the government borrows more money to pay off debt, it can affect individuals’ net wealth. Let’s take a look at how the national debt can impact your savings and investments. Q2 2022 hedge fund letters, conferences and more How Much Debt Does the U.S. Have?Fiscal Data, a hub for federal financial data, ...
ValueWalk
The U.S. national debt rose above $30 trillion for the first time ever, according to Treasury Department. The national debt is the accumulation of the federal government’s deficits over the years. The federal government owes almost $8 trillion to foreign and international investors in Japan and China alone. The Covid-19 pandemic had a severe impact due to spikes in unemployment and stimulus payments. When former President Donald Trump entered office, the debt was already at $20 trillion but has spiraled in recent years. Federal Reserve Chairman Jerome Powell stated, “Debt is not at an unsustai...
uPolitics.com
Financial advisors commonly tell people to maximize contributions to tax-deferred retirement plans such as 401(k)s and IRAs, but does that make sense? Pamela Yellen, financial investigator and New York Times best-selling author, says this is a myth that may cost retirees big in their golden years, and offers a free online calculator to demonstrate why. Q2 2021 hedge fund letters, conferences and more Tax Deferral Scam such As 401(k)s And IRAs ExposedConventional wisdom says maximizing contributions to tax-deferred retirement plans such as 401(k)s and IRAs allows your savings to grow without be...
ValueWalk
The gravity-defying run of bitcoin has long caught the attention of retail and institutional investors. However, it appears that the one institution which the digital currency threatens its existence is beginning to see the positives of its adoption into the mainstream financial system. Q3 2020 hedge fund letters, conferences and more Paying National Debt With BitcoinThe Federal Reserve Chairman, Jerome Powell, and Treasury Secretary, Steve Mnuchin, have announced plans by the American Government to pay off its national debt using bitcoin. In a statement made available to journalists, the Fed ...
ValueWalk
The U.S. government is sending another round of checks meant to stimulate economic activity during the coronavirus pandemic. How will Americans spend their stimulus checks? In a collaboration with Maru/Blue Public Opinion, Refinitiv discovered how U.S. citizens plan to utilize this new round of funding. Q3 2020 hedge fund letters, conferences and more COVID-19 Stimulus Payments Inspire Saving Over SpendingHow do Americans plan to spend their stimulus checks? 44%, plan to save the money; 36% will pay off debts; 20% will spend the fundsSource: Maru/Blue Public Opinion Survey Increasing National ...
ValueWalk
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