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National Debt

What is national debt and how does it affect our economy?

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Breaking Ground

The New Deal history in LA's freeways

by Kai Ryssdal and Andie Corban
Jan 19, 2024
The backbone of Los Angeles' extensive highway system was built with the aid of FDR's historic public works program.
The first potion of the Arroyo Seco Parkway opened in 1940, connecting Pasadena and downtown Los Angeles.
AFP/Getty Images
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National Debt

Criticism, crashes, and crises: Revisiting three ghosts of debt ceiling battles past

by Stacey Vanek Smith
Dec 5, 2023
There have been about 80 debt ceiling battles since 1960. But those decades of drama have never led to an actual default.
The National Debt Clock shows the increasing U.S. debt, near an IRS office in New York City. When this photo was taken, on July 26, 2011, Congress was one week away from a debt ceiling deadline.
Stan Honda/AFP via Getty Images
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Israel-Hamas War

With a government shutdown averted, funding for Israel and Ukraine remains in the air

by Nancy Marshall-Genzer
Nov 17, 2023
A bipartisan group of Senators is working on a compromise on immigration that would be included in a broader package of aid for Ukraine and Israel.
Earlier this month, the House of Representatives also passed a $14 billion aid package for Israel, with no funding for Ukraine.
Stefani Reynolds/AFP via Getty Images
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National Debt

Why would China sell off its U.S. debt — if that's what it's doing

by Sabri Ben-Achour
Nov 7, 2023
There's a hot debate about what it's doing with its holdings, and the answer could affect how much it costs Americans to borrow money.
"We care about whether foreign governments or entities are buying U.S. Treasurys because it impacts the cost of borrowing in this country," said Jesse Wheeler of Morning Consult.
Mark Schiefelbein/POOL/AFP via Getty Images
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National Debt

With demand down, there's a new buyer of Treasurys in town

by Matt Levin
Nov 1, 2023
The Federal Reserve and major U.S. banks are buying fewer bonds than they used to. Hedge funds are picking up some of the slack.
The Treasury Department just released its quarterly refunding statement. Next week, it will auction off billions in bonds.
Mandel Ngan/AFP via Getty Images
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National Debt

Why the Treasury Department's borrowing plan may overshadow Jay Powell's news conference

by Nancy Marshall-Genzer
Nov 1, 2023
As the Fed wraps up its two-day meeting, economists are looking to the Treasury Department for details on how the federal government plans to borrow money through the end of the year.
Mandel Ngan/AFP via Getty Images
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National Debt

Federal Reserve losses contribute to federal deficit

by Sabri Ben-Achour
Oct 24, 2023
When the central bank makes money, it hands it to the Treasury. But now it's losing money as it pays interest to banks on their deposits.
The Fed is, among other things, a bank for banks, and it pays interest to those banks. Those interest rates have gone up. Above, the Eccles building, which houses Fed governors' offices.
Kevin Dietsch/Getty Images
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National Debt

Why don't we talk more about revenue when we talk about the U.S. budget deficit?

by Kimberly Adams
Oct 23, 2023
The vast majority of federal revenue comes from taxes, and the drop in 2023 revenue was mostly due to a drop in individual income taxes.
The vast majority of federal revenue comes from taxes.
Daniel Slim/AFP via Getty Images
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National Debt

Why the U.S. budget deficit grew so much in the last year

by Sabri Ben-Achour and Alex Schroeder
Oct 23, 2023
No surprise: Inflation, higher interest rates and the pandemic all play a role.
Chip Somodevilla/Getty Images
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National Debt

Federal government shutdowns cause economic distress for tribes

by Savannah Maher
Sep 28, 2023
The U.S. government is obligated by treaty to provide certain services to tribal nations. Shutdowns force tribes to take on those costs.
The headquarters of the Yurok Tribe in Northern California in 2021. During the government shutdown in 2013, the tribe had to furlough about 70 employees.
Justin Sullivan/Getty Images
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