Just one day after President Barack Obama signed into law a bipartisan deal to end the government shutdown and avoid default, the US debt surged a record $328 billion, the first day the government was able to borrow money. Fasten your seatbelt, because the US debt rate is racing out of control and nobody seems to know where or when the spending will end: The US debt now equals $17.075 trillion, according... 

If the US debt-ceiling debate goes past the eleventh hour, and the default of the world’s largest economy becomes a reality, leading central banks around the world are gearing up to minimize losses and keep the world economy functioning. If US lawmakers don’t reach a budget consensus and raise the debt ceiling by Thursday October 17, the US will become the first Western power to default since... 

With the US debt ballooning to a new record of $16.7tln and the deadline to fix the ‘debt ceiling’ expiring on October 1, a default threat looms over the world’s largest economy. Experts agree the government will broaden its borrowing limit. The latest warning to Congress comes from the International Monetary Fund, who urged the US Congress to reach an agreement to raise its debt ceiling and... 

The United States might officially be the worst neighbor on Earth: the US now owes its allies $5.2923 trillion, the most money the country has ever been indebted to its foreign friends in the history of the nation. Statistics released this week by the US Treasury indicate that, as of June 2012, the United States has borrowed bucks from most of the world’s major countries and has accumulated a debt... 

An astounding report prepared by the Ministry of Finance for President Putin today estimates that up to $35 Trillion in assets owned by what are estimated to be the 10 million individuals classified as “global elites” has been lost to global tax havens over fears that President Barack Obama is about to “shatter” the United States “permanent war economy” that has been in place since 1944. The... 

Drones, kill lists, computer viruses and administration leaks are all the rage in the current political debate. They indeed merit serious scrutiny at a time when the rules of war, and technologies available for war, are changing fast. That said, these issues are not the foreign policy centerpiece of the 2012 presidential race. Economic renewal and fiscal reform have become the pre-eminent issues,... 

A grim Ministry of Finance report circulating in the Kremlin today states that the shocking record rise this past week of the United States outstanding debt to $15.692 trillion (just $600 billion short of their debt ceiling) has pushed the world’s most powerful economy into a situation of its outstanding obligations now being 101.5% of its entire gross domestic product (GDP), which when coupled... 

The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. As of the close of business on Oct. 3, the total national debt was $14,837,099,271,196.71—up about $44.8 billion from Sept. 30. That means that in the less-than-three-years Obama has been in office, the federal debt has increased by $4.212 trillion–more than the total... 

The International Monetary Fund said on Wednesday that the US debt burden is perilously unsustainable but warned against too-sharp fiscal adjustments that would slow the fragile economy. In its annual assessment of US financial strengths and weaknesses, the IMF also said that if the government does not hike its debt ceiling soon to accommodate current spending commitments, the impact could wreak havoc... 

President Obama‘s budget, released Monday, was conceived as a blueprint for future spending, but it also paints the bleakest picture yet of the current fiscal year, which is on track for a record federal deficit and will see the government’s overall debt surpass the size of the total U.S. economy. Mr. Obama‘s budget projects that 2011 will see the biggest one-year debt jump in history, or nearly... 

The United States just passed a dubious milestone: Government debt surged to an all-time high, passing $14 trillion – $45,300 for every person in the country. That means Congress soon will have to lift the legal debt ceiling to give the almost maxed-out government an even higher credit limit or dramatically cut spending to stay under the current cap. Either way, a fight is ahead on Capitol Hill,... 

The Congressional Budget Office (CBO) forecasts the U.S. budget deficit will hit $1.3 trillion this year. An astronomical figure, to be sure, but that’s lower than was projected in March. It’s also less than last year’s record $1.41 trillion deficit, which was close to 10% of GDP. And, that’s the good news. As the deficit grows so does the national debt, which is currently more than...