Financial Liabilities - The US borrowed and spent over $8 trillion, which is now worth $0 [1] - This resulted in a $400 billion annual Veteran's Affairs bill that grows approximately 2x tax receipts [1] Analogy - The situation is analogous to a company borrowing $8 trillion to buy an asset that becomes worthless [1] - The company is then left with a $400 billion/year asbestos liability that grows 5-10% annually [1]

Public Finance - Spain's central bank recommends lowering spending to reduce public debt [1] - Public debt exceeds 100% of Spain's economic output [1]

Government Shutdown Impact - The shutdown cost the country $0.5 trillion [1] - 20,000 flights were canceled or delayed due to the shutdown [4] - Over 1 million government workers were deprived of their paychecks [5] - Food stamp benefits were cut off for millions of Americans [5] - Tens of thousands of federal contractors and small businesses went unpaid [6] Political Stance - Republicans voted 15 times for a clean continuation of funding [1] - Democrats insisted on creating the longest government shutdown in American history for political reasons [2] - The speaker calls for a termination to the filibuster to prevent future shutdowns [6] Key Supporters - The speaker thanks Speaker Mike Johnson, Senate Majority Leader John Thune, House Majority Leader Steve Scalise, and Majority Whip Tom Emmer [3] - The speaker thanks the Teamsters, the American Federation of Government Employees, the Fraternal Order of Police, the National Small Business Association, the American Farm Bureau, and the American Trucking Association [3] - The speaker thanks Airlines for America, the Allied Pilots Association, and the National Air Traffic Controllers Association [4]

Government Spending & Climate Change - Most governments lack a clear understanding of their climate change expenditure [1] - Governments are ill-prepared to manage the escalating impacts of climate change [1]

Government Shutdown Resolution - A spending package passed the Senate to end the record-long government shutdown [1] - The Republican-led Senate needed Democratic votes to pass the measure [1]

The Senate passing legislation to end the government shutdown with support from a handful of Democrats. The bill now heading to the Republican controlled House. Joining us now is Bloomberg's Mike Shepard.Shep, just walk us through the progress we've made in the last 24 hours and the sequence of things over the next 24 hours. Well, we saw the Senate reach a breakthrough last night, Jon, with the chamber voting 60-40 to pass this interim spending measure that will keep most of the government open at least thr ...

Our national debt in America is currently $ 37 trillion. Our net interest payments are $900 billion per year. It is the interest is our second largest federal expenditure.When you look at America's debt situation right now, you talk about the big debt cycle. You talk about how countries go broke. How far along in the cycle are we. How far along is America.This year, the government will spend about $7 trillion and it will take in about $5 trillion. So, it will spend 40% more than it's taking in. And it reall ...

The markets know US and China depend on each other.The markets know interest rates have to come down.The markets know the government can’t stop printing money.The markets know asset prices are going higher. ...

The US was cut by one notch at Scope Ratings after more than three weeks of Washington stalemate over government spending triggered action by the European credit assessor https://t.co/AHulBg5PXA ...

All right, it is day 23. Day 23 of the government shutdown and the effects are hitting communities across the nation. From missed paychecks to threats to food services, millions of Americans are feeling the strain.But Donald Trump is focused on something else entirely. You know it, the White House itself. Donald Trump has torn down the entire east wing of the White House, which belongs to the American people, to add a ballroom named after himself.It's something President Barack Obama actually joked about 14 ...