Search Results for: debt

United States national debt reaches $19 trillion

United States national debt 19 trillion bankrupt

The national debt hit $19 trillion for the first time ever on Friday, and came in at $19.012 trillion. It took a little more than 13 months for the debt to climb by $1 trillion. The national debt hit $18 trillion on Dec. 15, 2014. That’s a slightly stepped-up pace …

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US national debt is now over $20 trillion

US national debt 20 trillion

The United States has now officially accumulated a $20 trillion debt. The ceiling was broken after the White House allowed the Treasury to borrow more money. As of Tuesday, the American national debt stood at $20.16 trillion, according to the US Debt Clock website. This is almost $62,000 per person …

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US debt sees record $339 billion increase in a single day

Obama signing debt

From Filip Karinja, for Birch Gold Group On Monday, the U.S. national debt jumped a record $339 billion in a single day following President Obama signing into law new legislation that sees the debt ceiling suspended. Imagine that, our monetary problems “solved” with the single stroke of a pen. The Treasury Department can …

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Argentina to default on debt; second time in 12 years

Argentina default

Argentina failed to strike a deal to avert its second default in more than 12 years after talks with holdout creditors ended without a settlement on Wednesday. The country’s economy minister, Axel Kicillof, speaking at a news conference at the Argentine consulate in New York, repeatedly referred to the holdout …

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$60 trillion of world debt visualised

Global debt by country

The graphic below breaks down the $59.7 trillion of world debt by country, as well as highlighting each country’s debt-to-GDP ratio using colour. The data comes from the IMF and only covers public government debt. It excludes the debt of country’s citizens and businesses, as well as unfunded liabilities which are not …

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China, Russia, Norway, Brazil, Taiwan dump US treasuries

US treasuries being dumped

Five large purchasers of US Treasuries – China, Russia, Norway, Brazil, and Taiwan – have changed their minds. They’re dumping Treasuries, each for their own reasons that are now coinciding. And at the fastest rate on record. For the 12-month period ended July, sales of Treasuries by central banks around the world …

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US national debt hits $18 trillion, 70% increase under Obama

Obama debt

The national debt increased $32 billion dollars in one day to surpass $18 trillion on November 30. That’s a 70% gain under President Obama, who inherited a $10.6 trillion debt when he took office. Keep in mind, Obama was elected in part on the promise of addressing the national debt. …

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US Treasury has ‘frozen’ debt for 90 days at $18,112,975,000,000

U.S. Treasury

The portion of the federal debt that is subject to a legal limit set by Congress closed Thursday, June 11, at $18,112,975,000,000, according to the latest Daily Treasury Statement. That, according to the Treasury’s statements, makes 90 straight days the debt subject to the limit has been frozen at $18,112,975,000,000. $18,112,975,000,000 is …

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Italy’s public debt hits new record high

Italy's Finance Minister Pier Carlo Padoan

The amount of public debt racked up by the eurozone’s third largest economy reached a new record of €2.2 trillion in May, up by €23.4 billion in a month, the Bank of Italy said on Tuesday. The hike was attributed to increased Treasury liquidity, the fall in the euro and …

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Australia’s household debt-to-income ratio is at an all-time high

Australia household debt income ratio

The Bank for International Settlements has warned that record household debt levels amassed in the past decade have left Australians among the most vulnerable to a sharp rise in global interest rates. According to the Reserve Bank of Australia, household debt-to-income ratio for Australia is at an all-time high of 189%. …

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Australia joins list of nations selling bonds with negative yield

Flag Australia

Australia has this week joined the illustrious list of governments that have been able to borrow money at negative interest rates. The Australian Office of Financial Management, which manages the government’s debt programme, sold $200 million of inflation-linked bonds maturing in 2018 to 13 investors on Tuesday at a yield of …

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How Puerto Rico can rebuild and become a powerhouse economy

How Puerto Rico can rebuild economy

After a particularly devastating hurricane season, Puerto Rico has an uncertain future. Already mismanaged and saddled with debt, the island territory now faces the virtually insurmountable task of rebuilding its infrastructure and economy. But amidst the rubble and heartache lies one of the greatest opportunities in the modern era not …

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Central banks dump U.S. debt at record pace

Central banks dump US debt record pace

Global central banks are unloading America’s debt. In the first six months of this year, foreign central banks sold a net $192 billion of U.S. Treasury bonds, more than double the pace in the same period last year, when they sold $83 billion. China, Japan, France, Brazil and Colombia led …

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Russia reduces US debt holdings by 40% over past year

USD US 100 dollar note

Russia held $66.5 billion in US treasury securities in April 2015, down from $116.4 billion in April the previous year. The amount of US government bonds held by Russia reduced by more than 40 percent in one year, according to figures released by the US Treasury on Monday. In April 2015, Russia held $66.5 billion in US government debt, down from …

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Japan: 43% of tax revenue spent to cover interest on debt

Tax debt Japan

It’s entirely possible that we may see interstellar space travel in our lifetime. And what a dream that would be. But in the meantime, for anyone that’s losing patience with space technology, I would recommend you visit Japan. Because for anybody that has been here, this place is as close …

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US government faces $127 trillion in unfunded liabilities

Economic turmoil US dollar

For a casual observer of the US economy (most “experts”), you could say that things look pretty good. Unemployment is at its lowest rate in six years. Earnings of S&P 500 companies are higher than ever, while their debt is lower than it’s been in the last 24 years. Nonetheless, …

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Central banks selling off US debt at record pace

Central Banks selling US debt

In March, central banks from around the world dumped $17 billion in American Treasuries. Since the beginning of the year the sell-off has reached $123 billion, which is the quickest pace since 1978. China sold $7.7 billion in US debt in March, lowering its holding by $26.4 billion since last June. Russia …

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IMF forgives Ukraine’s debt to Russia

IMF Christine Lagarde Ukraine debt

On December 8, the IMF’s Chief Spokesman Gerry Rice sent a note saying: “The IMF’s Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors. We will provide details on the scope and rationale for this policy change in the next day …

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Japan overtakes China as largest US debt holder

Japan markets

Japan now officially holds more US debt than China, which has been America’s major creditor since 2008. In February Japan held $1.224 trillion in US government bonds compared to China’s $1.223 trillion. Both countries reduced their US debt investment, with China reducing its by $15.4 billion, and Japan by $14.2 …

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House passes $1.1 trillion government spending bill

US House of Representatives

Republicans have muscled a $1.1 trillion bill financing government agencies through the House after President Barack Obama phoned Democratic lawmakers and urged them to back the measure. The House approved the measure late Thursday by 219-206. The compromise bill keeps agencies funded through next September. Many conservatives opposed it because …

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