U.S. fiscal deficit a ‘more serious problem than ever before,’ says Larry Summers
Former Treasury Secretary Larry Summers believes that the current federal budget deficit poses a greater challenge for the economy than it has before in U.S....
The Federal Deficit Is Even Bigger Now Than It Looks
The federal government’s annual deficit for 2023 appeared to be $1.7 trillion, but due to irregularities involving President Biden’s now-overturned student debt cancellation plan, the...
Massive $2 Trillion Deficit Expected in Fiscal 2023
Washington faces a spending showdown, but the fiscal year ending this month brings a dire reality – a projected $1.7 trillion deficit, roughly $13,500 per...
Rising Interest Rates Will Crush the Federal Budget
The Federal Reserve’s policies of increasing interest rates and quantitative tightening—reducing its $8.9 trillion balance sheet—will increase the volume and cost of federal government borrowing,...
Japan Adopts View That Huge Government Debt Doesn’t Matter
TOKYO—When Japan’s leader released his economic vision Tuesday, he left out an important date. Prime Minister Fumio Kishida deleted a pledge from earlier government statements...