The Latest Breaking News from National Debt

After he was elected speaker on the 15th ballot, Kevin McCarthy promised that the U.S. House under Republican leadership would protect the national economy, saying that the party was committed to “stop wasteful Washington spending, to lower the price of groceries, gas, cars, housing, and stop the rising national debt.”

Republicans have long claimed they are dedicated deficit hawks, blaming Democrats for growing deficits and debt. But two votes they cast after electing Kevin McCarthy as House speaker prove that Republicans are charlatans when it comes to deficit reduction.

Congressional Democrats last year showered the IRS with $80 billion in new funding in an effort to close an estimated $600 billion “tax gap,” the difference between income taxes actually owed and those actually collected. This was supposed to help pay for the Biden administration’s ongoing spendapalooza that has run…

The national debt is much like the weather. Everybody worries about the topic, but nobody wants to do anything about it.

Money and Pensions Service (MaPS is pumping £228m into debt advice services in England over the next three years

WASHINGTON — President Joe Biden is headed toward a standoff over the national debt next year, when Republicans newly in control of the U.S. House threaten to demand concessions for raising the government’s legal borrowing limit.

In his autumn budget statement, Chancellor Jeremy Hunt said that the Conservatives don’t leave debts for the next generation. As such, he vowed to halve government borrowing over the next five years.

Brooke Haebich is worried about her credit card debt. She is one of the many Australians who have contacted the National Debt Helpline this year.

Drastic public sector belt-tightening is not an economic necessity but a political decision

History tells us a recession is all but guaranteed next year, and Dr. Doom warns it could combine the worst of two big economic crises in past decades.

In late June, Australia's national debt was $895 billion, but many economists argue the total, or gross debt figure is not the best debt figure to look at, Tom Lowrey writes.