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“US national debt surpasses $31 trillion for the first time in history” The US national debt has passed $31 trillion for the first time in history. Treasury Department data released Tuesday showed that the total national debt was $31.123 trillion as of Monday. The new milestone was reached even as the federal government’s insatiable spending has slowed considerably as…
“Amid Hunter’s ongoing scandals, Biden is going soft on China” It took a certain bloodless chutzpah for the president to place his scandal-ridden son front and center at a White House function last week. Hunter Biden, 52, popped up at Thursday’s Medal of Freedom ceremony, to glad-hand and network from his front-row perch even as…
“Janet Yellen recognizes ‘unacceptable levels of inflation’ in US” Treasury Secretary Janet Yellen acknowledged Tuesday that inflation has reached “unacceptable” heights, even as she defended Biden administration-backed spending bills that Republican lawmakers allege have contributed to the problem. “We currently face macroeconomic challenges, including unacceptable levels of inflation,” Yellen told the Senate Finance Committee three days…
“Three press officers leave White House amid reports of strife” The beleaguered White House press office suffered another blow this week with the departure of three key staffers for other positions in the executive branch — as a series of reports depict the West Wing in a constant state of chaos. Mike Gwin, who has…
“Americans are likely facing a deeper-than-normal recession” Tolstoy famously wrote that all happy families resemble one another, but each unhappy family is unhappy in its own way. He might have said the same about unhappy economies — and added that there are all too many signs the US recession now in the works will likely…
“Janet Yellen calls for crypto regulations to cut risks, fraud” Treasury Secretary Janet Yellen says more government regulation is needed to police the proliferation of cryptocurrency and other digital assets and to ward off fraudulent and illicit transactions. In practice, one result would be that users would get documentation of their crypto dealings for use in filing…
“#Five centrist Dems oppose Biden’s pick for bank regulator” Five centrist Democratic senators have reportedly told the White House that they’ll oppose the nomination of Saule Omarova, President Joe Biden’s controversial lefty pick for head of the Treasury Department’s Office of the Comptroller of the Currency. The opposition from both Republicans and, now, some of…
“#Biden’s pick for Treasury post sought end to banking ‘as we know it’” President Biden’s controversial pick to be the Treasury Department’s comptroller of the currency is a USSR-born and educated professor who has praised the former Soviet Union’s lack of a gender pay gap while recently advocating for ending banking “as we know it”…
“#Ambitious SEC boss Gensler cultivates Sen. Elizabeth Warren” If Gary Gensler sounds a lot like Elizabeth Warren, it’s not by accident but by design. He needs the powerful progressive senator in his corner to fulfill his ultimate, career-fulfilling goal, which, according to sources, is having his signature on the dollar bill as treasury secretary. Gensler…
“#Meme investors should heed ‘manic’ lesson of Fannie-Freddie collapse” The smart money thinks it’s only a matter of time — weeks, maybe days — before the meme-stock craze finally evaporates. But if history is any guide, this mania hasn’t quite run its course. For proof, look no further than the strange, decade-plus-long investment mania over…