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The Latest Breaking News from National Debt

Threat of income tax rise grows as Rachel Reeves gives clear sign she will break Labour manifesto pledge

Chancellor rolls ground for tax rises in unusual pre-Budget speech at Downing Street

Evening Standard

Goldman Sachs CEO says AI-induced growth offers a ‘path out’ of America’s $38 trillion debt crisis

“The path out is a growth path,” Solomon said. “The difference between compounding growth of 3% and 2% is monstrous in terms of dealing with this issue.”

Fortune

If Trump Sells Your Student Loan Debt, Would That Help or Hurt You?

Approximately 45 million Americans owe, cumulatively, $1.6 trillion in student loan debt to the federal government. That’s a staggering amount of money. For context, America’s ballooning national debt -- the largest in the world -- is approximately $38 trillion.

GOBankingRates

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Elon Musk Warns Social Security Could Run Out By 2032: 'We're Going Bankrupt...'

During his latest appearance on The Joe Rogan Experience, Tesla Inc. (NASDAQ:TSLA) Elon Musk warned that the U.S.'s ballooning national debt and looming Social Security shortfall could push the country toward bankruptcy.

Benzinga

The UK bond markets have become a political trap that strangles public spending. But there’s a way out

With living standards falling and the far right on the rise, the chancellor has the power to make decisions, not simply accept diktats from the markets, says lecturer in political economy Sahil Dutta

The Guardian - UK

Governments are likely to pillage the $80 trillion Great Wealth Transfer to help balance their national debt burdens, says UBS

“It seems unrealistic to suppose that governments will just sit idly by as this wealth moves around. We would expect governments to attempt to mobilize that wealth to help fund their debt,” UBS chief economist Paul Donovan said.

Fortune

The $38 Trillion U.S. Debt Mountain – Every American Owes $110,649 Now

American debt hit a record high of $38 trillion earlier this week. Here's a look at how quickly the debt is growing and how much every American would owe today.

Benzinga

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Budget watchdog on $38 trillion national debt: ‘It’s tough to decide what the most appalling part is of today’s announcement’

The Committee for a Responsible Federal Budget is glum: “The reality is that we’re becoming distressingly numb to our own dysfunction.”

Fortune

US Debt Tops $38 Trillion Amid Shutdown, The Fastest Pace Since Pandemic

Amid the federal government shutdown, U.S. gross national debt surpassed $38 trillion as per Treasury data on Wednesday, raising concerns about the nation’s financial stability.

Benzinga

US hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic

The U.S. government's gross national debt has surpassed $38 trillion during the federal shutdown, marking a record high

The Independent UK

As national debt accelerates to $38 trillion, watchdog warns it's 'no way for a great nation like America to run its finances'

In just a little over two months, the national debt swelled by $1 trillion. This is twice as fast as the rate of growth since 2000, Michael Peterson says.

Fortune

Fact check: National debt, fake wifi charges and the cost of rebuilding Gaza

Round-up of fact checks from the last week compiled by Full Fact.

Evening Standard

America is ‘going broke slowly’ says J.P. Morgan, as national debt balloons and tariff revenue looks shaky

The risk is “that we move from going broke slowly to going broke quickly,” Kelly says.

Fortune

Ray Dalio Issues Stark Warning On US Debt, Says Situation At 'Dangerous Inflection Point' As Buying Power Is Now Getting 'Squeezed'

Billionaire investor Ray Dalio has issued a stark warning about the trajectory of the U.S. government's finances, describing the national debt situation as being at a critical juncture.

Benzinga

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Reason

The White House Thinks Taking Partial Ownership of a Canadian Mining Company Will Reduce the National Debt

Trump's deal with a lithium mine in Nevada follows similar "creative deals" with Intel and U.S. Steel.

Benzinga

Dave Ramsey Says It's 'Wonderful' That You Can Venmo The Government To Pay Down The $37 Trillion Debt. 'There's Always Some Idiot Out There'

You can now send the U.S. government money through Venmo to help pay off the national debt. And if that sounds ridiculous to you, you’re not alone. Personal finance personality Dave Ramsey and co-host Ken Coleman tore into the idea on a recent episode of “The Ramsey Show,” mocking the…

Euronews

France's PM Lecornu announces end to 'lifetime' benefits for former prime ministers

Lecornu was named prime minister on 9 September, replacing François Bayrou who lost a vote of confidence in parliament after proposing €44 billion in budget cuts in a bid to reign in France's national debt.

Fortune

Ken Griffin lays down the law on why Trump needs to back off the Fed, saying his meddling could prompt a national debt crisis

Ken Griffin warns Trump’s pressure on Jerome Powell and the Federal Reserve risks eroding U.S. institutional credibility.

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The Conversation

French national debt under presidents Chirac, Sarkozy, Hollande and Macron: a look at the numbers

French national debt has grown steadily over the last 30 years. It is the sum of all public deficits accumulated since the mid-1970s. To compare the amount of national debt to the government’s financing capacity, it is expressed as a percentage of gross domestic product (GDP) – debt-to-GDP ratio – which…

GOBankingRates

I Asked ChatGPT To Explain the National Debt Like I’m 12 — Here’s What It Said

Confused by the national debt vs. the national deficit? ChatGPT breaks it down in plain terms and explains why it matters for your wallet and the U.S. economy.

GOBankingRates

Nearly 42% of Boomers Are Living Paycheck to Paycheck: Here’s How It’s Delaying Retirement

Many baby boomers are living paycheck to paycheck, and they face debt, low savings and rising costs. Learn how that is impacting and delaying retirements.

Fortune

President Trump may want a lower base rate on behalf of consumers, but it sure is convenient for national debt too

While Trump frames the issue as consumer pain, Wharton’s Joao Gomes told Fortune that cheaper borrowing would also ease interest payments on the government’s $37 trillion debt burden—likely a central motivation.

Fortune

Trump says tariffs are going to be enough to pay down national debt. They likely won’t even touch the sides

In exclusive interviews with Fortune, Wharton professor Joao Gomes and AEI’s Desmond Lachman warned that while tariffs may slow debt growth, they won’t meaningfully reduce it.

Benzinga

Peter Schiff Slams Nixon's 1971 Gold Standard Exit As US Debt Soars $9 Trillion While Bullion Jumps 85%, Both 'Poised To Spiral Higher'

Bitcoin (CRYPTO: BTC) critic and economist Peter Schiff issued warnings on Friday about America’s mounting debt crisis, linking current fiscal challenges to the 1971 decision that ended the gold standard. The warning comes as national debt has surged $9 trillion in four years to reach $37.09 trillion.

Benzinga

Cynthia Lummis Backs Scott Bessent's 'Commitment' To Build Bitcoin Reserve Without Burdening US Taxpayers — 'I Have A Bill For That'

Sen. Cynthia Lummis (R-Wyo.) on Thursday backed a “budget-neutral approach” to building a Strategic Bitcoin (CRYPTO: BTC) Reserve, opposing the idea of purchasing additional BTC to address the mounting national debt.

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