We’re coming up on the sixtieth anniversary of the old Soviet Union’s launch of its Sputnik satellite next month and the U.S.’ first successful launch of a satellite into Earth orbit in response one failed attempt and three months later. Since then, the U.S. has been to the Moon, launched dozens of probes across…
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According to CNBC, Apple Computer has loaned the U.S. government over $52.6 billion, where if the company were a foreign country, it would rank 22nd among the major foreign holders of the publicly-held portion of the U.S. government’s total public debt outstanding. That amount is just 0.2% of the entire public debt outstanding as…
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The U.S. government’s total public debt outstanding finally surpassed the grim milestone of $20 trillion on September 8, 2017, following President Trump’s surprising deal with Congressional Democrats to suspend the statutory debt ceiling through December 15, 2017. On that Friday, the national debt jumped by $317.6 billion to reach $20.16 trillion. The total public…
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The government in question is that of Venezuela, which is nearing default as it is running out of resources to pay back the money it owes to its Russian creditors according to the terms it accepted when it chose to borrow money from them. MOSCOW, Sept 8 (Reuters) – Russian Finance Minister Anton Siluanov…
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Following up President Trump’s surprising deal with Congressional Democrats to suspend the U.S. government’s statutory debt ceiling through December 15, 2017 as part of providing funding to support hurricane damage relief in Texas, Louisiana and Florida, President Trump also appears to have reached a “gentleman’s agreement” to permanently eliminate the statutory debt ceiling altogether….
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While it won’t be news to MyGovCost readers, President Trump did indeed tie together aid to fund the recovery to large-scale damage caused in Texas and Louisiana by Hurricane Harvey with an increase in the U.S. government’s statutory debt ceiling. What may be surprising however is who he reached the deal to do both…
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In 2001, the U.S. Congress passed the “No Child Left Behind” Act, which promised to improve the academic performance of the nation’s K-12 schools in part by holding elementary and secondary school administrators to a higher level of accountability while also pouring up to $23 billion of federal spending annually into poorly performing local…
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Putting together a package of federal aid to assist the Americans who have been displaced from their homes and jobs in the destructive aftermath of Hurricane Harvey—and increasing the statutory debt ceiling of the U.S. government—would appear to be two entirely separate jobs for the U.S. Congress, but political realities will force the two…
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The ongoing saga of Dallas’ failing government employee pension fund for its police officers and firefighters is continuing to play out to the detriment of the Texas city’s residents. When MyGovCost last checked on the story, the city’s mayor had rejected new property taxes to finance a taxpayer bailout of the insolvent pension fund….
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It’s official! The 2017 edition of Government Shutdown Theater, which MyGovCost hinted was coming less that two weeks ago, was initiated by President Trump at a speech in Phoenix, Arizona on Tuesday, August 22, 2017. The Hill‘s Mike Lillis reports on the now increased chance that the U.S. government will be partially shut down…
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