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A major worry surrounding the current debt-ceiling crisis is how Social Security payments will be made should the ceiling not be raised. While some warn that payments would be jeopardized, a law...
At the end of March 2023, UK general government gross debt was £2,537.0 billion, or 100.5% gross domestic product. [ 2 ] Approximately a third of the UK national debt is owned by the British government due to the Bank of England 's quantitative easing programme, so approximately a third of the cost of servicing the debt is paid by the ...
For about 48 hours last week, it looked like a debt ceiling fight in 2025 would be averted, as ideas were floated to postpone the issue until 2027 or 2029 (or even forever). But it was not to be.
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Social Security is starting 2023 in the political crosshairs over proposals to raise the retirement age to help stabilize the program's finances. Now another battle is brewing over whether to cut...
For years, seniors have been bombarded with news reports highlighting how the Social Security Trust Fund will expire sometime in the 2030s. But a much more immediate threat is now on the horizon.
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in the past.