The Rise of America's Debt Ceiling has been visualized below using data from various sources, including the World Bank, U.S. Department of the Treasury, and Congressional Research Service.
Every few years the debt ceiling...
When the United States goes bankrupt, one consequence would be the loss of the US dollar as the global reserve currency, leading to the return of dollars held in many national reserve banks back to the US.
While testifying at a Senate Defense Appropriation hearing, US Defense Secretary Lloyd Austin and other senior Pentagon officials warned of the "Chinese threat" in the event of a US default.
US Defense Secretary Lloyd...
According to the Buenos Aires-based consulting firm 1816 Economia & Estrategia, Argentina is on the brink of financial collapse as it has depleted all of its liquid international reserves and has reportedly spent an additional estimated $1...
Chris Edwards, an economic analyst at the Cato Institute, said that as the U.S. owes a whopping $7 trillion to foreigners, the federal government would be forced to either hike taxes or cut spending immediately to be...
The Federal Reserve purchased large amounts of government bonds and mortgage bonds to support the economy and financial markets during the COVID crisis, which has led to concerns that it is technically bankrupt.
Behind...
According to data from the US Treasury, California owes the most debt at $18.6 billion and has defaulted on it.
California's recent decision not to pay back some $20 billion borrowed from the federal...
Holders of dollars will see their purchasing power plummet, which is not a good thing for ordinary Americans if the US loses reserve currency status, and the fault will lie with the decades of monetary and fiscal...
With the national debt of the world's reserve currency soon expected to exceed $32 trillion, some are predicting a potential $20 trillion dollar global financial collapse.
According to the Department of the Treasury, the current US national debt is $31.4 trillion, which is visualized below.
