The US government’s balance sheet continues to expand at a scorching pace, with more than a quarter of a trillion dollars in debt added in two months. New data from the Treasury Department’s Debt to the Penny system shows the country’s national debt rose from $34.297 trillion on February 21st to $34.571 trillion on April […]
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New numbers show the US government’s spending exceeded its revenues to the tune of more than a trillion dollars in the recently concluded fiscal year. The data comes from the newly released Congressional Budget Office (CBO) report which monitors the government’s receipts and outlays for the 2023 fiscal year, which ran from October 1st, 2022 […]
The post $1,700,000,000,000 US Budget Deficit Shattered in 2023 As IMF Issues Warning on America’s ‘Worrying and Deteriorating’ Fiscal Trajectory appeared first on The Daily Hodl.
The Congressional Budget Office (CBO) is revising its projections for this year’s US budget deficit, saying it will be significantly higher than previous estimates. In a new report, the agency says it now projects government expenditures will outpace revenues to the tune of $1.7 trillion in 2023. “On the basis of its estimate of the […]
The post US Deficit Expected To Shatter $1,700,000,000,000 This Year – 13% Higher Than Previous Estimate: CBO appeared first on The Daily Hodl.
Former US Treasury Secretary Larry Summers says America is walking a precarious path as the nation’s budget deficit reaches $1.613 trillion. Speaking in an interview with Bloomberg at the Aspen Economic Strategy Group Summit, Summers says that everything is suggesting that the US’ costs are about to vastly overshadow its revenue, creating a larger and […]
The post US Deficit Surpasses $1,600,000,000,000 As Larry Summers Warns America on Unsustainable Fiscal Trajectory appeared first on The Daily Hodl.
The US government’s spending is now exceeding its revenues by over a trillion dollars just eight months into the current fiscal year. The data comes from a newly released Treasury Department report which tracks the government’s receipts and expenses for the 2023 fiscal year, which runs from October 1st, 2022 to September 30th, 2023. According […]
The post US Deficit Explodes, Surpassing $1,390,000,000,000 As Government Spending Outpaces Revenue: Treasury Department appeared first on The Daily Hodl.
Former House Speaker Paul Ryan says the US dollar’s position as the world’s reserve currency is in jeopardy as the US government accumulates massive amounts of debt. In a new CNBC interview, Ryan says US President Joe Biden is not proactively taking steps to stop the country’s hemorrhaging debt. According to the former Wisconsin representative, […]
The post US Dollar’s Status As Global Reserve Currency at Risk As America Hurtles Towards Debt Crisis: Paul Ryan appeared first on The Daily Hodl.
On Thursday, the Biden administration released the U.S. president’s 182-page budget proposal for the fiscal year 2024, which aims to “grow the economy from the bottom up and middle out.” The budget includes an $835 billion increase in military spending, but the administration claims it will reduce the deficit by $3 trillion over the next […]
Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to Combat Illegal Crypto Mining Operations Police in Abkhazia are conducting daily raids to […]
New legislation proposed in the parliament of Kazakhstan will allow only authorized miners to mint digital currency, if adopted. The draft has been designed to comprehensively regulate the industry and reduce what its sponsors label as uncontrolled consumption of electricity in the sector. Lawmakers in Kazakhstan Submit Crypto Mining Law, Seek to Curb ‘Gray’ Mining […]
Europe’s banking sector regulator is worried it won’t manage to find the specialized personnel needed for the oversight of the EU’s attempt to regulate the crypto market. The authority is also concerned over the lack of clarity regarding which digital assets it’s supposed to supervise. Banking Watchdog Faces Staffing Problems Threatening Its Ability to Regulate […]