Tag: US Debt
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Janet Yellen and the U.S. Debt Explosion: A Legacy of Apologies
Janet Yellen, the esteemed economist and former Federal Reserve Chair, assumed her role as U.S. Treasury Secretary in January 2021. Heralded as a steady hand during turbulent times, she was expected to navigate the United States through post-pandemic recovery and mounting economic challenges. However, under her watch, the U.S. national debt has skyrocketed to unprecedented…
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The End of an Empire: A 150-Year View of U.S. Debt and the Trajectory Toward Bankruptcy
Empires often collapse under the weight of their own excesses, and the U.S. may be hurtling toward that precipice. For over a century, the United States has held the mantle of global economic supremacy, but the cracks in this financial facade are becoming increasingly apparent. The nation’s fiscal policy, debt management (or lack thereof), and…
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Elon Musk Warns ‘America is Going Bankrupt’ as Interest Payments on US Debt Ate Up 76% of June’s Income Tax Revenue
In a stark warning that has sent ripples through financial markets and policymakers alike, Elon Musk has raised alarms about the fiscal health of the United States. According to Musk, the nation is on a trajectory towards bankruptcy, driven by the staggering proportion of income tax revenue consumed by interest payments on national debt. As…