US debt crisis

Latest data from the US Treasury Department shows that the federal government is sitting on $21.85 trillion of debt. At current pace it is likely to hit the $22 trillion mark next month.

Despite the 30-year decline in interest rates, US debt has been climbing almost exponentially faster with the latest budget deficit swelling by nearly a trillion dollars.

Moscow will continue dumping US debt, according to analysts who spoke to RT. Latest US Treasury Department data shows Russia cut its holdings by half in April.

More than a third of New York State’s food pantries have had to turn away people in need because they have run out of supplies. Food banks have been demanding an additional $16 million to replenish their stock.

The enormous outlay for overcrowded US federal prisons is forcing the White House to consider clemency and entreat non-violent, low-level felons serving terms for drug-related crimes to apply for early release.

The US Treasury on Friday was forced to enact ‘emergency measures’ after spending its borrowed time and money. By month’s end, Uncle Sam’s piggy bank will be down to just $50 billion, US Treasury Secretary Jacob Lew warned Congress.