government debt

The Labor government is set to spend $215 billion more than it earns over the next five years.

America’s debt spiral could devolve into a fiscal crisis or hyperinflation, several economists say.

Blackstone CEO Steve Schwarzman said Friday that the decision by Fitch Ratings to downgrade the U.S. long-term credit rating is regrettable but justified, in large measure due to the out-of-control government spending that keeps adding the the federal debt load.