66 F
New York
August 4, 2021

Debt

U.S. Treasury suspends government retirement, health fund payments as debt limit resets

Reuters
U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing to examine the FY22 budget request for the Treasury Department on Capitol Hill in Washington, DC, U.S., June 23, 2021. Greg Nash/Pool via REUTERS/Files WASHINGTON, Aug 2 (Reuters) – U.S. Treasury Secretary Janet Yellen on Monday took......

The United States suspended its debt ceiling in 2019. That ends this weekend.

CBS News
CBS News – For more and to sign up click here The Treasury Department runs into an important deadline this weekend, when a 2019 suspension of the government’s debt limit — known as the debt ceiling — expires Saturday. That forces the Treasury Department to perform what are called “extraordinary......

Consumers did great job paying down credit card debt during pandemic. That may be ending

CNBC
CNBC – For more and to sign up click here Santiaga | iStock | Getty Images Ask a consumer expert what would happen with credit card loan balances during a recession and the answer wouldn’t be that balances decline sharply and Americans avoid a wave of card delinquencies. But that’s......

Janet Yellen warns Congress that failing to act on the debt limit risks ‘irreparable’ economic harm.

New York Times
Treasury Secretary Janet L. Yellen warned Congress on Friday that the U.S. economy faced “irreparable harm” if lawmakers failed to raise or suspend the nation’s borrowing cap and that the Treasury Department would begin taking “extraordinary measures” to avoid breaching the so-called debt limit. In a letter to Congress, Ms.......

Yellen wants debt limit raised by Aug. 2, warns U.S. may need ‘extraordinary measures’ to avoid default

CNBC
CNBC – For more and to sign up click here U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing to examine the FY22 budget request for the Treasury Department on Capitol Hill in Washington, DC, June 23, 2021. Greg Nash | Pool | Reuters Treasury Secretary......

Millions of student loan borrowers don’t have a diploma to show for their debt

CNBC
CNBC – For more and to sign up click here U.S. student debt has increased by more than 100% over the past 10 years and today, 44.7 million borrowers collectively owe more than $1.7 trillion dollars in student debt.  But not all of these borrowers have a degree to show......

Debt ceiling deadline: Here’s when the government will no longer be able to pay its bills

CBS News
CBS News – For more and to sign up click here The U.S. government will probably run out of cash to pay its bills at some point this fall, likely in October or November, if no action is taken, the nonpartisan Congressional Budget Office announced Wednesday.  This comes as the......

McConnell says GOP will not vote to raise debt ceiling, setting up clash in Congress

CNN
USA TODAY – For more and to sign up click here McConnell’s threat prompted outrage from top Democrats, warning the GOP leader is playing a dangerous game that could tank the US economy. Republicans argue that it’s not uncommon for the majority party to shoulder the burden for increasing the......

‘Every time, it’s messy:’ U.S. again approaching debt ceiling

Reuters
A family’s stimulus check from the U.S. Treasury for the coronavirus disease (COVID-19) aid arrived in the mail in Milton, Massachusetts, U.S., March 25, 2021. REUTERS/Brian Snyder/File Photo WASHINGTON, July 21 (Reuters) – The U.S. Congress will learn on Wednesday when the federal government will likely run out of money......

As China’s debt risks grow, here are 3 warning signs to watch

CNBC
CNBC – For more and to sign up click here Signage illuminated at the China Huarong Asset Management Co. headquarters on Financial Street in Beijing, China, on Wednesday, May 19, 2021. Yan Cong | Bloomberg | Getty Images BEIJING — Weak spots are emerging in China’s growing debt pile. National......

The debt ceiling deadline is the end of July — Democrats have options, but no clear plan yet

CNBC
CNBC – For more and to sign up click here The U.S. Capitol is reflected in a pool of rain water on Capitol Hill in Washington, D.C., U.S., on Monday, March 23, 2020. Al Drago | Bloomberg | Getty Images An upcoming vote in Congress to either raise or suspend......

Xiaomi raises $1.2 billion in debt as Beijing targets the tech sector

CNBC
CNBC – For more and to sign up click here Xiaomi’s headquarters in the Xuhui District of Shanghai. Costfoto | Barcroft Media | Getty Images GUANGZHOU, China — Chinese smartphone giant Xiaomi will raise around $1.2 billion via debt issuance at a time when authorities are cracking down on China’s......

Biden’s infrastructure plan would cut U.S. debt and slightly increase economic growth, Wharton study finds

CNBC
CNBC – For more and to sign up click here U.S. President Joe Biden delivers remarks highlighting the benefits of Bipartisan Infrastructure Framework, at La Crosse Municipal Transit Utility, in La Crosse, Wisconsin, U.S., June 29, 2021. Kevin Lemarque | Reuters A bipartisan infrastructure deal reached by President Joe Biden......

The 3 budget numbers you need to know to pay off debt and save more for retirement

CNBC
CNBC – For more and to sign up click here Your budget doesn’t have to be complicated. You’ll just need to track down a few numbers before you get started. It is important to know how much money you have and to find out where it is going, according to......

These charts show the dramatic increase in China’s debt

CNBC
CNBC – For more and to sign up click here Joggers in Shanghai, China, on April 10, 2021. Qilai Shen | Bloomberg | Getty Images China’s debt has grown dramatically over the past decade — and is one of the biggest economic challenges confronting the ruling Chinese Communist Party, which......

I built a 6-figure investment portfolio while paying off my 6-figure debt: Here’s my best advice

CNBC
CNBC – For more and to sign up click here Don’t let early mistakes hold you back At my first job out of school, I started putting money into my employer 401(k). A couple years later, after being laid off, I decided to take some money out of my retirement......

U.S. government fails to collect over $1 billion in debt from nearly 1,300 colleges, report says

CNBC
CNBC – For more and to sign up click here The U.S. Department of Education building is pictured in Washington on Monday, July 13, 2020. Caroline Brehman | CQ-Roll Call, Inc. | Getty Images The Department of Education has failed to collect more than $1 billion in debt from nearly......

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Click whichever is suitable. Accept Read More