China’s total debt has risen tremendously in just a couple of years. Here’s why that matters.

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Earlier this month, Rep. Pete Sessions (R-TX) questioned Secretary of the Treasury Janet Yellen on the national debt during a House Financial Services Committee hearing.

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Former Treasury Secretary Lawrence Summers says the Federal Reserve may need to get involved in fiscal policy and weigh in on the US government’s $33.5 debt mountain because of its implications for interest rates. Summers, a Harvard University professor and paid contributor to Bloomberg TV, speaks on “Wall Street Week” with David Westin.

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The United States has a $27 trillion dollar problem. An addiction to government Debt and one which is growing by the day.

US Debt has grown by over 800% since 1990, accelerating its unfavourable title of having the largest debt by value in the world.

But does America’s Debt really matter? Well this depends on who you ask.
Ultimately its addiction to debt is a consequence of tax cuts, an ageing population, and how cheap it has become to borrow ever larger sums.

#USDebt #NationalDebt #GovernmentSpending

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The National Debt Mediation Association has warned over-indebted consumers who are under administration to be aware of unscrupulous administrators, who abuse the process by taking advantage of the lack of knowledge of consumers. Magauta Mphahlele from National Debt Mediation Association is in studio to give more information.

As the federal debt reaches record levels, more and more economists are asking if it’s really a problem. Republican strategist Leslie Sanchez and Democratic strategist Lynda Tran join CBSN with more.

In this acclaimed work, available here for the first time in paperback, Herbert E. Sloan examines Thomas Jefferson’s complex and obsessive relationship to debt—its roles in his life and political career, and in the formation of republican ideology. As party leader in the 1790s, and later as President of the United States, Jefferson led a crusade against public debt, which he felt robbed the people of a future rightly theirs. Yet as a private person, he was plagued by debt, never free of it throughout his life. In this respect, Sloan argues, Jefferson was representative of his social class—most of the Virginia gentry had similar problems with debt, and similar feelings about it.

Taking as the central exposition of Jefferson’s political vision his famous letter to James Madison on the rights of the living generation, Sloan explores in detail the events of 1789–90, when Jefferson acceded to Hamilton’s plans for the national debt. The consequences of this decision would haunt Jefferson until the day he died.

Eloquently written and exhaustively researched, Principle and Interest provides a unique perspective on a range of topics—revolutionary ideology, political economy, the mechanics of party organization—central to an understanding of the period.

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