It’s Past Time for a U.S. Federal Sovereign Wealth Fund
Given the U.S. penchant for deficit spending, it is necessary to find other sources of revenue for the government of the United States.
The United States currently has a debt of $27.4 trillion on its books. The debt payments on the national debt of the United States for fiscal year 2020 was $522.77 billion. The budget for the United States in fiscal year 2020 was $4.829 trillion. This would have produced a budget deficit of $966 billion, but with the Covid-19 pandemic, the budget deficit ballooned to an estimated $3.7 trillion deficit for 2020.
The Congressional Budget Office in November of 2019 estimated that the interest on the U.S. National Debt in 2028 would be $914 billion. These estimates on the interest payment on the national debt were done before the Covid-19 pandemic. The Congressional Budget Office has not yet published any changes to this estimation due to the Covid-19 pandemic.
EU Reporter
Published 3 months ago
It’s been a wild and unpredictable year in so many ways. Crypto currencies boomed with institutional investors flooding in. Bitcoin hit a new all-time high in December. Institutional investment in bitcoin was the headline news of 2020. Companies both big and small moved huge percentages of their cash reserves into bitcoin, including the likes of MicroStrategy, Mass Mutual, and Square. And if recent announcements are anything to go by, they’re only just getting started, writes Colin Stevens.
However, as exciting as it’s been to watch them pour into the space over the last year, the numbers are still relatively low. In 2021, the success, or not, of their decisions will become clear. This could motivate a whole new wave of institutional investors to follow their lead. MicroStrategy’s $425 million investment in bitcoin, for example, has already more than doubled in value (as of 18 December 2020). These are numbers that will interest any busi
Entitled
Five Years Lost: How Finance Is Blowing the Paris Carbon Budget (pdf), the report was coordinated by Germany-based environmental and human rights group Urgewald, with the participation of organizations including Rainforest Action Network, Friends of the Earth USA, Oil Change International, Re:Common, and Reclaim Finance.
The new paper details a dozen of the most devastating fossil fuel projects around the world, which together would use up fully three-quarters of the total remaining carbon budget, based on the Paris accord’s goal of limiting global warming to 1.5°C.
Furthermore, the report exposes the banks and investors that are financing leading fossil fuel companies, as well as the environmental and social costs associated with their projects. These include violation of Indigenous rights, negative health impacts, human rights violations, and expected CO2 emissions caused by each of the projects.
How Banks and Financial Firms Gambling Away Our Future by Bankrolling Oil and Gas Projects The only reasonable decision for investors redgreenandblue.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from redgreenandblue.org Daily Mail and Mail on Sunday newspapers.