Category Archives for "The Economy"

The Catastrophic Consequences of a U.S. Default on Its Debt

The potential default by the U.S. government on its debt has been a looming threat with far-reaching consequences, both domestically and internationally. A default would have significant impacts on the global economy, which relies on the relative stability of the United States. Interest rates would increase, and investment into Treasury securities would stop, impacting people’s […]

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The US Approaches the Debt Ceiling: Biden Negotiates with Republicans Amidst Growing Backlash from Progressives

As the US government approaches the debt ceiling, negotiations between Democrats and Republicans have intensified, with President Joe Biden meeting with top congressional leaders to try to broker a deal. However, the talks have hit a snag, with Republicans pushing for steep spending cuts in exchange for raising the debt ceiling, something Democrats have rejected. […]

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The High-Stakes Standoff over the Debt Ceiling: Biden’s No-Negotiation Stance and the Implications of a Potential Default

President Biden’s no-negotiation stance on the debt ceiling has been met with criticism from some who feel it is neither realistic nor sustainable.[0] This stance was born of past experience when Republicans dragged out debt talks with the Obama administration to the brink of default, resulting in a downgrade of the U.S.’s credit rating.[1] However, […]

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G7 Finance Ministers and Central Banks’ Governors Express Concerns Over Iran and North Korea’s Activities and Discuss Transfer of Seized Russian Assets

The Group of Seven (G7) Finance Ministers and Central Banks’ Governors have expressed concern over the risks posed by Iran and North Korea. Specifically, the officials meeting in Japan have warned about North Korea and its “illicit activities” related to “proliferation of weapons of mass destruction” and recent ballistic missile launches.[0] The G7 also voiced […]

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