The national debt of the United States is the total national debt owed by the federal government of the United States to Treasury security holders. The national debt at any point in time is the face value of the then-outstanding Treasury securities that have been issued by the Treasury and other federal agencies. The terms "national deficit" and "national surplus" usually refer to the federal government budget balance from year to year, not the cumulative amount of debt. In a deficit year the national debt increases as the government needs to borrow funds to finance the deficit, while in a surplus year the debt decreases as more money is received than spent, enabling the government to reduce the debt by buying back some Treasury securities. In general, government debt increases as a result of government spending and decreases from tax or other receipts, both of which fluctuate during the course of a fiscal year. There are two components of gross national debt:
Mark Steyn is a Canadian author and a radio, television, and on-line presenter. He has written several books, including The New York Times bestsellersAmerica Alone, After America, and Broadway Babies Say Goodnight. In the US he has guest-hosted the nationally syndicated Rush Limbaugh Show, as well as Tucker Carlson Tonight on Fox News, on which he regularly appeared as a guest and fill-in host. In 2021, Steyn began hosting his own show on British news channel GB News. He left GB News in early February 2023, saying that the channel wanted him to pay fines issued by the UK media regulator Ofcom, which was investigating complaints of COVID-19 vaccination scepticism aired on The Mark Steyn Show. He has since moved his show to his own website.
In economic policy, austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. There are three primary types of austerity measures: higher taxes to fund spending, raising taxes while cutting spending, and lower taxes and lower government spending. Austerity measures are often used by governments that find it difficult to borrow or meet their existing obligations to pay back loans. The measures are meant to reduce the budget deficit by bringing government revenues closer to expenditures. Proponents of these measures state that this reduces the amount of borrowing required and may also demonstrate a government's fiscal discipline to creditors and credit rating agencies and make borrowing easier and cheaper as a result.
A balanced budget amendment or debt brake is a constitutional rule requiring that a state cannot spend more than its income. It requires a balance between the projected receipts and expenditures of the government.
Armageddon 2419 A.D. is a science fiction novella by Philip Francis Nowlan that first appeared in the August 1928 issue of the pulp magazine Amazing Stories. A sequel called The Airlords of Han was published in the March 1929 issue of Amazing Stories. Both stories are now in the public domain in the U.S. according to the Project Gutenberg website. In the 1960s, Nowlan's two novellas were combined by editor Donald A. Wollheim into one paperback novel, titled Armageddon 2419 A.D.
Richard Miniter is an American investigative journalist and author whose articles have appeared in Politico, The New York Times, The Washington Times, The Washington Post, The Wall Street Journal, The Atlantic Monthly, Newsweek, The New Republic, National Review, PJ Media, and Reader’s Digest. A former editorial writer and columnist for The Wall Street Journal in Europe, as well as a member of the investigative reporting team of the Sunday Times of London, he is currently the National Security columnist for Forbes. He also authored three New York Times best-selling books, Losing bin Laden, Shadow War, Leading From Behind, and most recently Eyes On Target. In April 2014, Miniter was included by CSPAN's Brian Lamb in his book Sundays At Eight, as one of Lamb's top 40 book author interviews of the past 25 years for Miniter's investigative work on 9/11 mastermind Khalid Shaikh Mohammed.
The United States budget comprises the spending and revenues of the U.S. federal government. The budget is the financial representation of the priorities of the government, reflecting historical debates and competing economic philosophies. The government primarily spends on healthcare, retirement, and defense programs. The non-partisan Congressional Budget Office provides extensive analysis of the budget and its economic effects. CBO estimated in February 2024 that Federal debt held by the public is projected to rise from 99 percent of GDP in 2024 to 116 percent in 2034 and would continue to grow if current laws generally remained unchanged. Over that period, the growth of interest costs and mandatory spending outpaces the growth of revenues and the economy, driving up debt. Those factors persist beyond 2034, pushing federal debt higher still, to 172 percent of GDP in 2054.
The history of the United States public debt began with federal government debt incurred during the American Revolutionary War by the first U.S treasurer, Michael Hillegas, after the country's formation in 1776. The United States has continuously experienced fluctuating public debt, except for about a year during 1835–1836. To facilitate comparisons over time, public debt is often expressed as a ratio to gross domestic product (GDP). Historically, the United States public debt as a share of GDP has increased during wars and recessions, and subsequently declined.
America Alone: The End of the World as We Know It is a 2006 non-fiction book by the Canadian newspaper columnist and writer Mark Steyn. It forecasts the downfall of Western civilization due to internal weaknesses and Muslim population growth in Western countries and the world generally. Based on his own observations, Steyn says that the fall of the Western world is caused by three factors: demographic decline, unsustainability of the advanced Western social democratic state, and exhaustion of civilization. By 2007, Steyn's America Alone, had already convinced many American conservatives that there was an imminent and inevitable Muslim invasion. The Canadian Islamic Congress (CIC) filed Human rights complaints against Maclean's magazine—in which they accused the magazine of Islamophobia—with the Canadian Human Rights Commission, the British Columbia Human Rights Tribunal and the Ontario Human Rights Commission, based partly on Maclean's publication of a chapter from Steyn's book, "The Future Belongs to Islam".
The Case Against Barack Obama: The Unlikely Rise and Unexamined Agenda of the Media's Favorite Candidate, by author David Freddoso, is an American non-fiction book published in late 2008, providing a critical examination of the life and opinions of the then United States presidential candidate and Senator Barack Obama.
The economic policy of the Barack Obama administration, or in its colloquial portmanteau form "Obamanomics", was characterized by moderate tax increases on higher income Americans designed to fund health care reform, reduce the federal budget deficit, and decrease income inequality. President Obama's first term (2009–2013) included measures designed to address the Great Recession and subprime mortgage crisis, which began in 2007. These included a major stimulus package, banking regulation, and comprehensive healthcare reform. As the economy improved and job creation continued during his second term (2013–2017), the Bush tax cuts were allowed to expire for the highest income taxpayers and a spending sequester (cap) was implemented, to further reduce the deficit back to typical historical levels. The number of persons without health insurance was reduced by 20 million, reaching a record low level as a percent of the population. By the end of his second term, the number of persons with jobs, real median household income, stock market, and real household net worth were all at record levels, while the unemployment rate was well below historical average.
To Save America: Stopping Obama's Secular-Socialist Machine is a 2010 non-fiction book by former Speaker of the House and conservative activist Newt Gingrich, offering a critical view of supposed secular and socialist influences on American liberalism and the Democratic Party. It was a New York Times bestseller.
In 2011, ongoing political debate in the United States Congress about the appropriate level of government spending and its effect on the national debt and deficit reached a crisis centered on raising the debt ceiling, leading to the passage of the Budget Control Act of 2011.
Political debates about the United States federal budget discusses some of the more significant U.S. budgetary debates of the 21st century. These include the causes of debt increases, the impact of tax cuts, specific events such as the United States fiscal cliff, the effectiveness of stimulus, and the impact of the Great Recession, among others. The article explains how to analyze the U.S. budget as well as the competing economic schools of thought that support the budgetary positions of the major parties.
Deficit reduction in the United States refers to taxation, spending, and economic policy debates and proposals designed to reduce the federal government budget deficit. Government agencies including the Government Accountability Office (GAO), Congressional Budget Office (CBO), the Office of Management and Budget (OMB), and the U.S. Treasury Department have reported that the federal government is facing a series of important long-run financing challenges, mainly driven by an aging population, rising healthcare costs per person, and rising interest payments on the national debt.
Addison Wiggin is an American writer, publisher, and filmmaker. He is the host of the YouTube show The Wiggin Sessions, covering financial markets, the economy and politics. He writes the financial daily The Daily Missive. Addison is also the host and editor of The Essential Investor, a resource for individuals who manage their own money.
End This Depression Now! is a non-fiction book by the American economist Paul Krugman. The book is intended for a general audience and was published by W. W. Norton & Company in April 2012. Krugman has presented his book at the London School of Economics, on fora.tv, and elsewhere.
The United States fiscal cliff refers to the combined effect of several previously-enacted laws that came into effect simultaneously in January 2013, increasing taxes and decreasing spending.
The New New Deal: The Hidden Story of Change in the Obama Era is a 2012 book about the Obama administration and its response to the world financial crisis written by journalist Michael Grunwald. He describes the discussions and debates that led to the government's anti-recession measures such as the American Recovery and Reinvestment Act of 2009 (ARRA). Taking a positive review of the President's efforts, Grunwald defends the economic measures as full of important, long-term investments while charging Republican Party opponents as being hypocritical and self-serving. The book was published by Simon & Schuster on August 14, 2012.
The economic policy of the Donald Trump administration was characterized by the individual and corporate tax cuts, attempts to repeal the Affordable Care Act ("Obamacare"), trade protectionism, immigration restriction, deregulation focused on the energy and financial sectors, and responses to the COVID-19 pandemic.
