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The Latest Breaking News from National Debt

Personal loans booming as cost of living drives Australians to borrow record amounts

National debt helpline calls have increased alongside growth in new personal loans, which charged an average 9% interest in March

The Guardian - AU

'Where we are today is frightening': a Pulitzer-winning historian sees a doomsday scenario involving China and the national debt

Liaquat Ahamed, whose “Lords of Finance” redefined the Great Depression, says America’s debt crisis has a clear historical precedent.

Fortune

Top JPMorgan analyst maps 5 ways America's debt crisis could unfold—and the 'best case' is still alarming

JPMorgan's David Kelly maps out five scenarios for the national debt over the next decade — the best-case is pretty, pretty bad.

Fortune

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Interest on the national debt is eating a record 19% of federal revenue — and watchdog warns it will get worse

The 30-year Treasury yield just hit its highest point since before the Great Recession. A leading fiscal watchdog warns the timing could not be worse.

Fortune

U.S. national debt officially hits $39 trillion—adding $5 billion a day since October

According to Treasury data, updated retrospectively for May 18, the debt landed at $39,008,999,901,378.68.

Fortune

Robert Kiyosaki Warns Governments Will Print More 'Fake Money' — Recommends Bitcoin, Gold, and Silver

Robert Kiyosaki warns about inflation and national debt threatening the US economy, criticizes the Federal Reserve, and recommends investing in gold, silver, and cryptocurrencies for protection.

International Business Times UK

Top economist says $39 trillion national debt leaves government worse prepared for recession than ever

The Fed’s hands would be tied in the case of a downturn.

Fortune

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National debt is one of the only things Republican and Democrat voters are equally concerned about

Rising debt’s wide-reaching consequences are a rare point of shared concern for voters.

Fortune

AI could solve America's $39 trillion debt crisis—but only if Washington abandons displaced workers, Yale Budget Lab warns

A Yale Budget Lab report suggests AI-driven productivity gains could reverse the national debt's upward trajectory. But what about the workers?

Fortune

‘Cut up the credit cards:’ Members of Congress are getting brutal about ‘embarrassing’ $39 trillion national debt

“It’s only going to get worse until we cut up the credit cards and get serious.”

Fortune

US national debt is now bigger than the economy for first time since World War II

Lawmakers urged to ‘stop the bleeding’ and put the country on a more sustainable fiscal path

The Independent UK

The national debt is the same size as the economy. It's a 'disturbing warning and a call to action,' watchdog says

A new bipartisan survey finds near-universal concern that the national debt is driving up everyday costs, as fiscal confidence hits a 22-month low

Fortune

The national debt fix would cost $827 billion—roughly what America spends on its entire military, economists warn

A Cato Institute report lays out the scale of America's fiscal reckoning as the tools that once tamed the debt are no longer available.

Fortune

Jamie Dimon gets candid about national debt: ‘There will be a bond crisis, and then we’ll have to deal with it’

“The level of things that are adding to the risk column are high, like geopolitics, oil, government deficits. And they may go away, but they may not.”

Fortune

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Fortune

The $39 trillion national debt just got its own version of the viral Doomsday essay

Centrist political group No Labels is using science fiction to sound the alarm: "Neither party has any credibility on the debt or deficit right now."

Fortune

Trump’s ‘gold card’ visas were going to solve $39 trillion national debt. They’ve sold only one

Gold card revenue “may be earmarked for deficit reduction, but it actually could be more money than that,” Trump previously told reporters.

International Business Times UK

US Treasury Department Adds Venmo Option to Solicit Public Donations for Staggering $39 Trillion National Debt Burden

The US Treasury now accepts Venmo and PayPal for debt donations, sparking viral attention, though the effort has little impact on the nation's $39 trillion debt.

Fortune

When interest on national debt overtook military spending, it triggered a limit where the U.S. may ‘cease to be a great power,’ warns Hoover historian

“The debt burden draws scarce resources towards itself, reducing the amount available for national security, and leaving the power increasingly vulnerable to military challenge.”

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Fortune

The director of the Congressional Budget Office—known for its gloomy national debt data—is very optimistic that a crisis will be avoided entirely

“Making progress to address the fiscal trajectory would be a positive for the U.S. economy,” Swagel said. “We can’t go on [with] the scolding narrative.”

Fortune

Something is different about Trump's $1 trillion war on Iran and its stress on the national debt, Harvard Kennedy scholar says

During the wars in Iraq and Afghanistan, debt held by the public was around $4 trillion. Now it's $31 trillion, and 15% of the budget pays down interest.

Fortune

A world going broke: IMF says America's $39 trillion national debt is actually a global problem—and AI may be the only rescue

Global public debt is barreling toward 100% of world GDP, the fund warned Wednesday. Governments everywhere are spending money they don’t have.

Fortune

Trump has no plan to cut the $39 trillion national debt, but he does want to cut childcare. His budget director is scrambling to clarify

OMB Director Russell Vought appeared before Congress to answer questions about the request for the largest military spending boost since World War II.

Fortune

The next generation of senators has a ticking time bomb in their lap: Social Security’s insolvency, without a plan for national debt

“My hope would be that, come January, the campaign is over and [they] lay down some of the weapons and pick up some of the calculators and pencils, and try and come up with a solution.”

Fortune

‘We owe it to the next generation’ to get national debt under control, says think tank boss, as U.S. borrowing hits $1.2 trillion in just six months

“We can fight over who got the worst end of the shortest stick, but we clearly are doing a disservice to anybody participating in the economy in the future,” Michael Peterson, CEO of the Peterson Foundation, tells Fortune.

Fortune

The U.S. government is spending $88 billion a month in interest on national debt, equal to its spending on both defense and education combined

Maya MacGuineas, president of the Committee for a Responsible Federal Budget, called on lawmakers to “ultimately fix the broken process that got us into this mess.”

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