President Joe Biden boasted during a press conference Friday that his administration supported the evacuation of the French embassy in Kabul while at the same time American citizens are being told the U.S. government cannot escort them to the airport.
The U.S. Embassy in Kabul informed American citizens on Thursday that the Biden administration “cannot ensure safe passage to the airport.” The message came one day after Defense Secretary Lloyd Austin said the U.S. military lacks the capability to escort Americans trapped behind enemy lines to the airport.
However, the Biden administration did have the capability to provide support to a convoy of hundreds of French people from their embassy to the airport, the president said Friday. Read More
Treasury Secretary Janet Yellen warned congressional leaders Friday that failing to raise the debt ceiling would risk “irreparable harm to the U.S. economy and the livelihoods of all Americans.”
In a letter, Yellen said that she did not know how long the Treasury Department could prevent the U.S. from defaulting on its debt, which could carry catastrophic economic consequences. The debt ceiling is set to expire on Aug. 1. Read More
The U.S. national debt is closer to $123 trillion, more than four times what the Treasury Department is reporting, Chicago-based Truth in Accounting calculates in its new annual analysis of the nation’s finances.
The federal government has $5.95 trillion in assets and $129.06 trillion worth of bills resulting in a $123.11 trillion shortfall, or a debt burden of $796,000 per U.S. household.
Because of this massive amount of debt and repeatedly poor financial decisions made by lawmakers, TIA gave the U.S. government an “F” grade for its financial condition. Read More
A former Treasury Department official pleaded guilty in federal court in New York City on Monday to leaking sensitive financial records of multiple Trump associates and figures in the Trump-Russia investigation to a reporter at BuzzFeed News. Read More