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But good luck doing that with china. so one thing the government can do is take a hard stance and say we are going to buy this debt from the list bondholders and we are going to offset against the debt that we owe china. that almost offsets that would save the u.s. government about $95 million interest rate about $33 billion by safety china are going to assume this debt were going to wipe it out. we re going to stop a new interest on the debt we owe you but that s what tactic the u.s. government could take there s others as well but that s a big one. arthel: good luck with that. meanwhile that 95 million interest we are paying as taxpayers. every day. arthel: let me take a look at this. these are nations of the largest debt precut the u.s. with 32.4 trillion. china 14 trillion. japan 10 trillion. france 3.1 trillion. and italy 2.8 trillion. ....
i think in the end if it can help individuals who are physically compromised and need of assistance and willing to help themselves at the same time i think that s good funding. these pilot programs are trial balloons for a universal basic income. if the government were to give every american adult $1 thousand a month the tab $3.1 trillion per year. proponents say equity is the north star regardless of the cost and who pays for it or the repercussions of it like crime. john: we ll see how far it goes. lauren, thank you. gillian: florida s governor ron desantis is taking heat from powerful teachers unions accusing him of trying to destroy public schools. could it help republicans politically on the key issue of education? we have karl rove on tap next hour. we may soon know more about where and how the covid pandemic started. this after president biden just heeded gop calls to sign ....
With job creation layout policy priorities that will not fly the new republican-controlled house at the same time his address will be seen as a kick off point for the 2024 campaign season. according to a new nbc washington post poll it will be a hard sell for the president. 58% of democratic voters want someone else to run. 31% like him seeking reelection. secretary pete buttigieg was presented with these numbers and came to the swift defense of his boss. do i want him to run again? a large number of democrats say they don t want him to run ag again. he is an absolutely historically successful president. and i want to see that continue. let s take a look back fiscal year 2023. almost 718,000 migrant encounters at the border, $13.1 trillion spending under the president and seven days of vacation but 22 press ....
Bucket in the grand scheme of things. also it is being offset by the student debt relief. which the cbo said is boosting the deficit by $400 billion. wiping out the improvement in the deficit from the inflation reduction act. and let s put this all into perspective. clearly deficits are coming down slarply. in 2020 this was a record high. $3.1 trillion it has been cut in half during the most recent fiscal year. that is a big deal. but also why is that happening? because there is not as much covid emergency spending. there is no bailouts or stimulus checks or rescues of small businesses. also because the economy is doing better. but when you really zoom out, clearly deficits are still very high. they ve come down in recent years. but they re way higher than they have been at almost any other point and we haven t had a fiscal surplus since 2001. clearly i think we could say that the budget deficit is improving but it is far to early ....
Trillion budget deficit for 2022. todd: cheryl casone is here. cheryl: massive amount of debt the u.s. hold surpassing $31 trillion, first time in history that has happened. jumping during the covid pandemic and continues to balloon under biden admini administration. there are many examples here. the government spent $3.1 trillion more than it received back in 2020. for 2022, that number expected to be around $1 trillion. so republicans arguing voters are ready to see less spending and the programs are adding to record high inflation. fed expected to raise rates again in november, consensus we ll see 75-basis point hike at the meeting in november. carley: big news of the day is that opec meeting happening ....