Debt

The outbreak of the Israel-Hamas war in October led to a doubling of Israel's borrowing in the past year, with the state raising 160 billion shekels in debt.

Yesh Atid MK Mickey Levy, head of the Knesset State Control Committee, called on Prime Minister Benjamin Netanyahu to immediately resign, warning of an economic disaster.

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This week we read, “You have enough, circle the mountain, and turn to the north [tzafonah]” (Devarim 2:3).

The US debt crisis is far more serious. But for us who live in Israel, our borrow-spend-borrow habit spells big trouble.

Bipartisan concessions from Joe Biden and Kevin McCarthy averted the debt ceiling crisis, sparking anger from the extremes of both parties. Could this be a precedent?

Biden and McCarthy held a 90-minute phone call earlier on Saturday evening to discuss the deal.

The White House is considering scaling back its plan to boost funding at the Internal Revenue Service to hire more auditors and target wealthy Americans, the official said.

"The greatest near-term danger to the dollar's position stems from the risk of confidence-sapping policy mistakes by the US  authorities themselves," Moody analysts wrote.

Iran's increased isolation only contributes to the nation's economic downfall.

Two opposing sides of the US government appear to have different ideas of how debt ceiling conversations are going.