* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, June 5, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Shows to Watch – The Advocate

    Must-See Shows You Can’t Miss!

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    ‘Sinners,’ starring Michael B. Jordan, is now streaming on Prime Video – About Amazon

    Experience the Thrills of ‘Sinners’ Starring Michael B. Jordan – Now Streaming on Prime Video!

    California Mid-State Fair announces entertainment lineups for Frontier and Mission stages – KSBY News

    Exciting Entertainment Lineup Unveiled for California Mid-State Fair’s Frontier and Mission Stages!

    Spotify & OpenAI: Will Gen AI ‘Hollow Out’ Entertainment? – Technology Magazine

    Will Generative AI Transform the Future of Entertainment

    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, UBS Group Analyst Says – MarketBeat

    UBS Analyst Predicts Surge in Micron Technology Stock Price!

    Domo to Participate in the D.A. Davidson Technology Summit – Business Wire

    Domo Set to Shine at the D.A. Davidson Technology Summit!

    When fiction becomes fact: 3 pieces of modern technology inspired by Star Trek – Redshirts Always Die

    From Screen to Reality: 3 Modern Technologies Inspired by Star Trek

    The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

    Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Shows to Watch – The Advocate

    Must-See Shows You Can’t Miss!

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    ‘Sinners,’ starring Michael B. Jordan, is now streaming on Prime Video – About Amazon

    Experience the Thrills of ‘Sinners’ Starring Michael B. Jordan – Now Streaming on Prime Video!

    California Mid-State Fair announces entertainment lineups for Frontier and Mission stages – KSBY News

    Exciting Entertainment Lineup Unveiled for California Mid-State Fair’s Frontier and Mission Stages!

    Spotify & OpenAI: Will Gen AI ‘Hollow Out’ Entertainment? – Technology Magazine

    Will Generative AI Transform the Future of Entertainment

    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, UBS Group Analyst Says – MarketBeat

    UBS Analyst Predicts Surge in Micron Technology Stock Price!

    Domo to Participate in the D.A. Davidson Technology Summit – Business Wire

    Domo Set to Shine at the D.A. Davidson Technology Summit!

    When fiction becomes fact: 3 pieces of modern technology inspired by Star Trek – Redshirts Always Die

    From Screen to Reality: 3 Modern Technologies Inspired by Star Trek

    The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

    Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Gen Z will pay dearly for this U.S. blunder on the massive debt that boomers, Gen X, and millennials are dumping on them, former White House economist warns

May 5, 2024
in Business
Gen Z will pay dearly for this U.S. blunder on the massive debt that boomers, Gen X, and millennials are dumping on them, former White House economist warns
Share on FacebookShare on Twitter

U.S. debt is soaring to record levels, and the Treasury Department squandered an opportunity to help ease the burden on Gen Z, a former White House economist warned.

That’s as Gen Z already has enough to worry about and has grown increasingly pessimistic. High borrowing costs have kept young adults out of the housing market, while some scholars are also pointing to social media’s impact on anxiety.

But Todd Buchholz, who served as White House director of economic policy under President George H.W. Bush, said “members of Gen Z must also worry about the irresponsible debt levels that baby boomers and Generations X and Y (millennials) are foisting onto their narrow shoulders.”

To be sure, U.S. debt levels have been surging for decades. But in recent years, it has topped key milestones. For example, gross federal debt as a share of U.S. GDP has exceeded the level reached in the immediate aftermath of World War II. In fact, the cost of servicing the debt is now expected to eclipse defense spending this year.

The likes of Fed Chairman Jerome Powell, JPMorgan Chase CEO Jamie Dimon, Bank of America CEO Brian Moynihan, and BlackRock CEO Larry Fink have sounded the alarm on U.S. debt recently. But Buchholz highlighted the consequences Gen Z in particular faces.

“Half of young adults don’t think they will ever afford a home, yet they will be asked to pay for their grandparents’ profligacy,” he wrote in an op-ed for Project Syndicate on Wednesday.  

The U.S. had an opportunity to improve the debt outlook, but passed up on it, Buchholz explained. For years after the Great Financial Crisis, the Federal Reserve’s monetary stimulus kept yields on Treasury bonds at rock-bottom lows, meaning the interest on U.S. debt was historically cheap.

The Treasury Department, which sells U.S. debt to global bond markets, could have locked in those low rates by issuing 50- or 100-year bonds, rather than durations that typically max out at 20 or 30 years.

“But the Treasury mostly stuck to short-term borrowing, with the average duration of bonds at just five years,” Buchholz said. “As a result, it is rolling over maturing debt at a steeper cost.”

In March 2021, when U.S. bond yields were still at low levels of around 1.5%, Treasury Secretary Janet Yellen said there were “no current plans” to issue super-long debt. That prompted hedge fund manager Stanley Druckenmiller last year to call it the “biggest blunder in Treasury history.” Today, yields are hovering near 4.5% after topping 4.7% late last month.

While the U.S. missed its chance to secure cheap debt, at least 14 countries as well as dozens of corporations and universities issued super-long bonds, Buchholz pointed out.

But he added there may be other opportunities in the future and suggested the Treasury Department should unleash a flood of super-long bonds whenever inflation-adjusted yields drop below the historical average of about 1.55%.

Still, that won’t tackle the massive federal deficits that are driving the surge in U.S. debt.

“Of course, the fundamental budget problem is too much spending,” Buchholz said. “President Ronald Reagan once joked that the government is like a baby: it has a big appetite at one end, and no sense of responsibility at the other. That quip is as true today as it was a half-century ago.”

Subscribe to the CFO Daily newsletter to keep up with the trends, issues, and executives shaping corporate finance. Sign up for free.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Fortune – https://fortune.com/2024/05/05/us-debt-crisis-gen-z-cost-boomers-gen-x-millennials-treasury-bonds/

Tags: Blunderbusinessdearly
Previous Post

Chinese President Xi Jinping begins charm offensive in Europe amid growing uncertainty about future U.S. support for allies

Next Post

President Marcos wants faster permit process for flagship infrastructure projects

Graphics: China’s ecological, environmental quality keeps improving steadily – news.cgtn.com

Graphics: China’s ecological, environmental quality keeps improving steadily – news.cgtn.com

June 5, 2025
The Forgotten History (and Slippery Science) of Canola Oil – Eater

The Forgotten History (and Slippery Science) of Canola Oil – Eater

June 5, 2025

The White House Gutted Science Funding. Now It Wants to ‘Correct’ Research. – The New York Times

June 5, 2025
Celsius targets active lifestyles in brand’s largest campaign to date – Marketing Dive

Celsius Unleashes Its Boldest Campaign Yet to Energize Active Lifestyles!

June 5, 2025
Here Are The WFDF World Under-24 Ultimate Championships Pools – Ultiworld

Exciting Matchups Ahead: Discover the Pools for the WFDF World Under-24 Ultimate Championships!

June 5, 2025
Iowa GOP Chair responds to report ranking Iowa as state with worst economy – KCRG

Iowa GOP Chair responds to report ranking Iowa as state with worst economy – KCRG

June 5, 2025
Shows to Watch – The Advocate

Must-See Shows You Can’t Miss!

June 5, 2025
Cattle Health Market Report 2025 – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030: Impacts of Technological Advancements, Disease Outbreaks, Traceability and Food Safety – Yahoo Finance

Unlocking the Future of Cattle Health: Insights on Market Trends, Opportunities, and Innovations for 2025

June 5, 2025
Michigan anti-discrimination law would explicitly ban antisemitism under new proposal – Detroit Free Press

New Proposal Aims to Strengthen Michigan’s Anti-Discrimination Law by Explicitly Banning Antisemitism

June 5, 2025
Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, UBS Group Analyst Says – MarketBeat

UBS Analyst Predicts Surge in Micron Technology Stock Price!

June 5, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (669)
  • Economy (683)
  • Entertainment (21,589)
  • General (15,266)
  • Health (9,725)
  • Lifestyle (686)
  • News (22,149)
  • People (684)
  • Politics (691)
  • Science (15,901)
  • Sports (21,187)
  • Technology (15,668)
  • World (669)

Recent News

Graphics: China’s ecological, environmental quality keeps improving steadily – news.cgtn.com

Graphics: China’s ecological, environmental quality keeps improving steadily – news.cgtn.com

June 5, 2025
The Forgotten History (and Slippery Science) of Canola Oil – Eater

The Forgotten History (and Slippery Science) of Canola Oil – Eater

June 5, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version