National Debt News

Interest payments on America’s national debt have a troubling connection to the beloved pumpkin spice latte.  America’s national debt is fast approaching $33 trillion. The interest alone on that debt is costing the American people about $2 billion a day, according to Heritage Foundation research. (The Daily Signal is the news outlet of The Heritage…

American families must find ways to pinch pennies every day, especially in the face of massive inflation since the start of the Biden administration. In contrast, the federal government has just reached the shameful milestone of $32 trillion in gross debt, or more than $245,000 for every household in the country. That's the result of…

The president of the Job Creators Network is voicing his support for a package of legislation introduced by a group of Republican senators to reduce the costs of higher education and student loan debt. “While we wait on the Supreme Court’s ruling on Job Creators Network Foundation’s challenge to the Biden administration’s illegal student loan…

Sen. Rand Paul, R-Ky., proposes to cap government spending in an amendment to the House-passed debt ceiling bill that resulted from negotiations between President Joe Biden and House Speaker Kevin McCarthy, R-Calif. “Sixty percent of Americans say Congress should only raise the nation’s debt ceiling if it cuts spending at the same time,” Paul said…

The House voted Wednesday evening to lift the nation’s debt ceiling and begin to curb government spending with the votes of both Democrats and Republicans. The vote to pass the debt ceiling bill was 314-117, with some of the House’s most conservative Republicans opposing it as not going far enough to establish fiscal discipline. A…

The House voted Wednesday evening to lift the nation’s debt ceiling and begin to curb government spending, despite resistance from conservatives following weeks of negotiations between Republicans and Democrats. The vote to pass the debt ceiling bill was 314-117, with some of the House’s most conservative Republicans opposing it as not going far enough to…

As Congress debates a deal to increase the debt limit, here are four things Americans should know: 1. Immediate spending reduction in Biden-McCarthy deal is infinitesimal; long-term reductions are small and uncertain. Faced with a $1.571 trillion deficit next year, and $20.3 trillion in deficits over the next 10 years, the deal brokered by President…

President Joe Biden and House Speaker Kevin McCarthy, R-Calif.—both of whom are career politicians—made a deal this week. They agreed to let the federal debt increase without any limit whatsoever until Jan. 1, 2025. For career politicians that date has special significance: It is after the 2024 elections, but before whomever wins those elections takes…

Democrats and Republicans reached an agreement to lift the debt ceiling, and nothing is going to change in the disturbing pattern of America’s national debt climbing by leaps and bounds. The best reason for pessimism? Our Democrat-messaging media. They can’t be bothered to offer the most basic facts in budget coverage. What is the budget…

President Joe Biden and Speaker Kevin McCarthy, R-Calif., announced a debt limit deal Saturday, with a vote expected Wednesday in the House of Representatives. Heritage Foundation experts scrutinized the text of the 99-page bill, including provisions related to spending, pro-growth policies, student loan cancellation, and work requirements for welfare. The following is their latest analysis…

As Congress considers the debt ceiling deal negotiated by President Joe Biden and House Speaker Kevin McCarthy, here’s what you need to know about the work requirements in it. Temporary Assistance for Needy Families The Temporary Assistance for Needy Families provisions are harmful and counterproductive. They actually weaken the existing work requirements, overturn the design of…

The current version of the federal debt ceiling deal does a bad job addressing student debt, despite the fact that the Biden administration’s student debt cancellation schemes will cost the taxpayer hundreds of billions of dollars. While the yearslong student loan “pause” will finally end, the biggest schemes are left untouched. The debt ceiling deal…

The debt ceiling deal brokered over Memorial Day weekend by President Joe Biden and House Speaker Kevin McCarthy “fails completely,” the chairman of the House’s most conservative caucus says. “We’re here to let you and the American people know that Speaker McCarthy had a mandate from the American people—negotiated with a powerful negotiation position of…

A significant majority of Americans believe that the U.S. debt ceiling should only be raised if it’s paired with spending cuts, a CNN poll released on Tuesday found. Sixty percent of the poll’s 1,227 respondents answered that “Congress should only raise the debt ceiling if it cuts spending at the same time.” Twenty-four percent of…

President Joe Biden, writes Politico’s White House Bureau Chief Jonathan Lemire, “has prioritized deal-making throughout the debt ceiling talks. But with GOP obstinate, Biden is changing tactics.” What in the hell is he talking about, you may wonder. Only last month, Lemire’s publication reported that Biden was “happy to meet” with House Speaker Kevin McCarthy,…

Thirty-five Republican House lawmakers sent a letter on Thursday to House Speaker Kevin McCarthy, R-Calif., urging three specific actions regarding the debt ceiling as a deal has yet to be reached. “As a result of your skilled leadership since your consequential election in January, Congressional Republicans have not been so united in decades,” the lawmakers…

House Speaker Kevin McCarthy says he isn’t certain a deal on the nation’s debt ceiling will be made Thursday as negotiations between Republican and Democrat lawmakers continue. “I don’t know if we’ll have a deal today,” McCarthy, R-Calif., said when asked during an appearance on Fox News Channel about the progress of talks with President…

As negotiations over the debt limit continue to dominate headlines in Washington, the central focus of the back-and-forth between Democratic President Joe Biden and House Speaker Kevin McCarthy, R-Calif., is over the appropriations spending level for fiscal year 2024. House Republicans passed the Limit, Save, Grow Act, which would reduce discretionary spending for fiscal year…

House Speaker Kevin McCarthy, R-Calif., says that “there’s a number of places that we’re still far apart” on the debt ceiling as negotiations continue in the nation’s capital. “I mean, it didn’t seem like it’d be this hard. I remember even talking to the incoming Democratic leader before I was even speaker about ways that…

Following a number of rounds of discussions between House Republican officials and the Biden administration, the two sides still haven’t reached an agreement on increasing the federal debt limit. House Speaker Kevin McCarthy, R-Calif., described a Monday evening conversation at the White House, however, as “productive.” An important factor surrounding the issue is McCarthy’s negotiating…