debt crisis

Sen. Bill Cassidy (R-La.) urged President Donald Trump to address the issue of rising medical debt. During a Senate floor speech on Wednesday, Cassidy revealed that 60% of personal bankruptcies are due to medical bills. He noted that monthly costs are increasing for the...

AI productivity might be a viable solution to America’s $39 trillion national debt crisis, according to a Yale Budget Lab report. However, it also warned that achieving this would require specific action from the government. Government Worker Aid May Offset Gains The study, released on...

 Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE:JPM) did not predict when America’s $39 trillion debt issue might reach its peak, but stressed that the country’s fiscal trajectory cannot be ignored indefinitely.  Speaking at the  NPR's Newsmakers ...

Federal Reserve Chair Jerome Powell expressed concerns about the fiscal trajectory of the U.S. while addressing the students at Harvard University on Monday. Powell acknowledged that the $39 trillion debt load, while not immediately threatening, is on an unsustainable path that demands urgent...

While investors fixate on the Middle East, Professor Steve Hanke says the more dangerous story may be playing out at home. The Johns Hopkins economist argues that the war around Iran and the Strait of Hormuz is not just a geopolitical shock. It is a stress test for a US balance sheet he believes is...

Ray Dalio, the billionaire investor, has raised concerns about the mounting U.S. debt crisis, which he estimates to be a staggering $37 trillion. He has also proposed a potential solution to mitigate the impending financial turmoil. What Happened: In an interview with Fortune, Dalio emphasized that...

With the national debt surging past $36.2 trillion in early June and long-term yields climbing, the U.S. bond market is entering dangerous territory. Leading financial voices are now raising alarms over unsustainable federal deficits, rising interest costs and declining confidence in the national...

Scott Bessent, the U.S. Treasury Secretary, assured that the country will not default on its debt, even as the deadline for raising the federal debt ceiling approaches. What Happened: Bessent, in an interview with CBS’s Face the Nation on Sunday, dismissed the possibility of a default....

Billionaire hedge fund manager Ray Dalio is sounding the alarm about a looming debt crisis, the changing global political order, and the implications of U.S. President Donald Trump's increasingly hostile approach to international trade and diplomacy. What Happened: On Wednesday, Dalio, the founder...

Robert F. Kennedy Jr., President Donald Trump’s Health and Human Services Secretary-designate, has revealed in financial disclosures that he carries up to $1.2 million in credit card debt. His balances, ranging between $610,000 and $1.2 million, are charged at high interest rates of 23.24% to...

The United States government is currently paying an unprecedented $2 million per minute in interest on its national debt, a figure that is expected to continue rising. This development has sparked a debate on Wall Street about the impact of higher interest rates on the economy. What Happened: The U...

Wharton professor Joao Gomes has expressed concern over the rapid growth of U.S. debt. He predicts that if Congress does not take immediate action, the U.S. could face a debt crisis by 2025. What Happened: Gomes compared the situation with the UK’s 2022 financial crisis. He suggested the U.S...

The week was peppered with crucial financial updates and forecasts. Of particular note were the U.S. Federal Reserve’s preferred inflation gauge meeting expectations and the escalating fears of Americans regarding the national debt crisis. Additionally, the market was rife with speculation...

Gold bull and economist Peter Schiff criticized Federal Reserve Chair Jerome Powell on Sunday for his remarks on the U.S. debt during Powell’s appearance on CBS News’ “90 Minutes.” What Happened: In a post on X, Schiff argued that Powell...

The U.S. Federal Reserve’s impact on the country’s monetary policy over the past hundred years has been significant, evolving since its inception in 1913 through various economic turns, including the Great Depression, post-World War II transformations, and 21st-century financial crises...