Tag: debt

Jasmine Crockett’s Finances Exposed – Subject to Personal Liens While She Spends $50k-100k of Taxpayer Cash on Limos, Luxury Hotels Just This Year

If the new congressional maps enacted by Texas Republicans stand until 2026, which it appears that they will, Rep. Jasmine Crockett would likely be out of a seat.

To everyone else, this is pretty much a win-win; I’m going to assume that this includes Democrats, who must be tiring of her antics by now, particularly given her lack of substantive support to the party’s caucus in the lower house. For Crockett, it’s a big lose — because not only will she be out of the corridors of power, but out of ways to spend the taxpayer’s money, as well.

And boy, does she spend it. That’s why her Senate run is so important to her, and soon to be loathed by the Democrats. Not only does it put the left’s one big potential upset of 2026 out of reach for them, most likely, but it also means that Crockett’s profligate spending — while she had a three-grand lien on her condo, no less — is going to be front-page news for a while.

So, in case you missed it (no shade; keeping up on all things Jasmine-related has shaved at least 5 IQ points off my poor, addled brain), Rep. Crockett announced Monday that she was running for GOP Sen. John Cornyn’s seat in the upper chamber.

“Trump, I know you’re watching, so let me tell you directly,” Crockett at her announcement event, according to CNN. “You’re not entitled to a damn thing in Texas. You better get to work because I’m coming for you.”

Dun dun DUN! Be scared, Donald. Be very scared.

Actually, the environment is probably one of celebration rather than anxious celerity on the part of state Republicans. Unlike the usual Democratic saber-rattling about turning Texas purple, this time they looked like they actually had a shot. A divided GOP is likely to mean that Cornyn doesn’t emerge from his own primary as the nominee, with state Attorney General Ken Paxton leading the way in polls.

Paxton is a little bit more MAGA but a lot more controversial than the other Republican challengers, and while he does well in a GOP primary he’s not necessarily the candidate you want to go into a general election with.

On the other hand, pretty much every character issue you can bring up about Paxton goes out the window the moment Crockett gets the Democratic nomination — which she instantly becomes the favorite for. Paxton could be accused of the most abhorrent thing you can think of — do it on live TV, even — and he’d still be considered a near-lock to win the general election.

To that end, too, Crockett has shoved the one candidate who’s remotely electable out of the running — former U.S. Rep. Colin Allred — leaving Crockett to duel it out with James Talarico, a progressive state representative who once said during a floor speech that “God is nonbinary” and somehow managed to dodge the ensuing lightning bolt from the empyrean.

But let’s not talk about the gift that is Crockett’s statewide unelectability. Let’s instead take a look at the gift that is Crockett’s finances for a moment.

According to Fox News, the Dallas County Clerk’s website shows that Crockett — who makes $174,000 a year in her position as a congresswoman — is currently behind on her payments to the Westside Condominium Association by $3,047.79.

The unpaid lien notice dates from over a year ago.

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Another Scandal for Jasmine Crockett

Rep. Jasmine Crockett (D-Texas) has found herself in yet another scandal, and this time it involves unpaid bills on her own luxury condo while she burns through tens of thousands of dollars in campaign cash on five-star hotels and limousine rides. Dallas County records reveal that Crockett has been carrying an unpaid lien of more than $3,000 on her upscale condominium for over a year, raising fresh questions about her judgment as she flirts with a Senate run.

Fox News Digital reports, “Progressive firebrand and rumored Senate candidate Rep. Jasmine Crockett, D-Texas, has had an unpaid lien balance of over $3,000 against her luxury condo in Dallas for over a year, according to county records reviewed.”

A notice of a lien filed on April 11, 2024, which is publicly available on the Dallas County Clerk’s website, shows that Crockett owes the Westside Condominium Association a total of $3,047.79.

The notice said that Crockett “is in default in her obligation for payment of assessments and has failed and refused and continues to fail and refuse, despite demand upon her, to pay the Association assessments and related charges properly levied against the Property.”

The lien gives the Westside Condominium Association in Dallas a legal claim on the unit, preventing Crockett from selling or transferring the property until the debt is paid.

The Dallas County Clerk’s Office confirmed to Fox News Digital on Tuesday evening that there is no record of the lien being released, indicating Crockett has still not paid the overdue amount.

Crockett purchased the Dallas condo, located just north of downtown, back in May 2014, and it remains her registered voting address. HOA fees for the property reportedly range between $222 and $403. The complex boasts spa-like amenities, including a pool and clubhouse, all within a gated community. For someone pulling in a congressional salary of $174,000 a year, compared to the average Texan’s annual income of $52,885, you’d think paying a few hundred bucks a month in HOA fees wouldn’t be a problem.

But this is a Democrat we’re talking about after all.

Crockett’s latest FEC filings show she burned through nearly $75,000 in donor cash on luxury travel and security this year, hitting pricey hotels and chauffeured rides in cities far from her Dallas district. Her campaign shelled out more than $25,000 on upscale lodging and limousines alone, with charges at the Ritz-Carlton, the Luxury Collection, the West Hollywood Edition, the Times Square Edition, Las Vegas resorts, and multiple Martha’s Vineyard inns.

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Report: U.S. Is the World’s Largest Debtor to China — Thanks to Amazon, Disney, and Tesla

A report published on Tuesday by the AidData research lab at William & Mary university in Williamsburg, Virginia, found that the United States is the largest recipient of loans from China.

The report, entitled Chasing China: Learning to Play by Beijing’s Global Lending Rules, found that 1,193 Chinese banks, investment companies, and government institutions loaned $2.2 trillion to recipients in 179 countries between 2000 and 2023.

AidData researchers drew two surprising conclusions from their research: “China’s overseas lending portfolio is vastly larger than previously understood,” and its loans to the developed world are an order of magnitude larger than widely believed.

The common image of Chinese loans is banks pumping huge loans to Third World countries through China’s Belt and Road Initiative (BRI). The ostensible purpose of BRI was to help developing countries build vital infrastructure, but the projects are often criticized as unprofitable “debt traps” approved by spendthrift local governments that saddle the borrowing nations with debts to Beijing they can never repay.

Whatever the flaws of BRI might be, AidData determined that only about 20 percent of China’s titanic lending portfolio involves infrastructure projects in developing nations. Meanwhile, the amount China loans to developed nations “skyrocketed from 12% to 76%” between 2000 and 2023. Ten of the top 20 destinations for Chinese loans are “high-income” countries.

“Another major discovery is that Chinese state-owned creditors have bankrolled approximately 10,000 projects and activities in 72 high-income countries to the tune of nearly $1 trillion,” the report said.

“Much of the lending to wealthy countries is focused on critical infrastructure, critical minerals, and the acquisition of high-tech assets like semiconductor companies,” noted AidData’s lead author, Brad Parks.

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Trump’s Republican Party insists there’s no affordability crisis and dismisses election losses

Almost two weeks after Republicans lost badly in elections in Georgia, New Jersey, Pennsylvania and Virginia, many GOP leaders insist there is no problem with the party’s policies, its message or President Donald Trump’s leadership.

Trump says Democrats and the media are misleading voters who are concerned about high costs and the economy. Republican officials aiming to avoid another defeat in next fall’s midterms are encouraging candidates to embrace the president fully and talk more about his accomplishments.

Those are the major takeaways from a series of private conversations, briefings and official talking points involving major Republican decision-makers across Washington, including inside the White House, after their party’s losses Nov. 4. Their assessment highlights the extent to which the fate of the Republican Party is tied to Trump, a term-limited president who insists the economy under his watch has never been stronger.

That’s even as an increasing number of voters report a different reality in their lives.

But with few exceptions, the Trump lieutenants who lead the GOP’s political strategy have no desire to challenge his wishes or beliefs.

“Republicans are entering next year more unified behind President Trump than ever before,” Republican National Committee spokesperson Kiersten Pels said. “The party is fully aligned behind his America First agenda and the results he’s delivering for the American people. President Trump’s policies are popular, he drives turnout, and standing with him is the strongest path to victory.”

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US Debt Rose By $620 Billion During The Government Shutdown

“This package demonstrates that we can govern without surrendering to big spending or letting Democrats dictate priorities,” wrote the House Freedom Caucus in some talking points released to the media.

“We successfully stiff-armed a massive omnibus spending bill; locked in disciplined, flat spending levels; preserved President Trump’s policy priorities… and kept our leverage for the next round in January.”

People can say whatever they want, but I’m pretty sure our politicians closed the US government for a record 42 days and changed absolutely nothing. That’s quite an accomplishment. Sublime ineptitude. Congressional approval ratings supposedly declined 11pts to 15% during the period. Remarkable.

If a trader knew that 85% of his decisions were losers, he’d become the richest man on earth by simply doing the exact opposite of his instinct. I’m guessing Pelosi made good money trading the chop, but the broad equity market ended the shutdown period roughly a percent higher than where it started.

Extrapolating the recent pace of deficit spending, the Federal government accumulated another $600bln of debt during the shutdown, adding more leverage to the system, sustaining the economy, supporting asset values.

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New foreclosures jump 20% in October, a sign of more distress in the housing market

Foreclosure filings climbed again in October, after sitting at historic lows in recent years, according to new data released Thursday.

While the numbers are still small, the persistent rise in foreclosures may be a sign of cracks in the housing market.

There were 36,766 U.S. properties with some type of foreclosure filing in October — such as default notices, scheduled auctions or bank repossessions, according to Attom, a property data and analytics firm. That was 3% higher than September and a 19% jump from October 2024, and marked the eighth straight month of annual increases, Attom said.

Foreclosure starts, which are the initial phase of the process, rose 6% for the month and were 20% higher than the year before. Completed foreclosures, the final phase, jumped 32% year over year.

“Even with these increases, activity remains well below historic highs. The current trend appears to reflect a gradual normalization in foreclosure volumes as market conditions adjust and some homeowners continue to navigate higher housing and borrowing costs,” said Attom CEO Rob Barber in a release.

Florida, South Carolina and Illinois led the nation in state foreclosure filings. On a metropolitan area level, Florida’s Tampa, Jacksonville and Orlando had the most filings, with Riverside, California, and Cleveland rounding out the top five.

Looking specifically at completed foreclosures, Texas, California and Florida had the most, suggesting those states will see more inventory coming on the market at distressed prices. There is still very strong demand for homes, especially in lower price ranges, so it is likely those foreclosed properties will find buyers quickly.

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Report: Ilhan Omar ‘in Collection Proceedings’ for Her Student Loans, Is Seeking to ‘Bully’ Her Way Out of Payments

For most Americans, a U.S. lawmaker with onerous student loan debt pushing for debt forgiveness would be viewed as a conflict of interest.

For at least one U.S. representative, it’s apparently a non-issue — and the American Accountability Foundation is livid about it.

According to the Daily Wire, Democratic Minnesota Rep. Ilhan Omar has been accused by the watchdog group over a number of issues.

In a scathing letter sent to House Speaker Mike Johnson, American Accountability Foundation President Thomas Jones outed Omar’s dubious finances — and “bully” reputation.

“We are writing today to share serious concerns about abuse of office and abuse of government loans by a member of the House of Representatives, Representative Ilhan Omar,” Jones said.

According to Jones, Omar is actually in collection proceedings on her federally guaranteed student loans.

Citing her financial disclosures, Jones called out the fact that Omar “currently has between $15,001 and $50,000 in outstanding loans.”

Jones noted, “As you know, these loans are guaranteed by the United States Government and Representative Omar’s default would shift the cost of her student loans onto the U.S. taxpayer.”

“The fact that someone making $174,000 as a Member of Congress cannot pay their student loans is unconscionable and embarrassing.”

Jones wasn’t done, however, as he had more issues with Omar than just the poor stewardship of her money.

“Adding insult to injury, there are credible claims that she is using her influence as a Member of Congress to bully the Department of Education into not collecting the past-due payments,” Jones wrote. “We have promulgated a Freedom of Information Act request for correspondence from Representative Omar to fully understand the scale of her abuse of office.”

To ensure that the Treasury Department will not be on the hook for Omar’s defaulted student loans, Jones demanded a drastic move from Mike Johnson.

“We are calling upon you to instruct the Chief Administrative Officer of the House of Representatives to impound Representative Omar’s Congressional salary and pay it out to Nelnet, the servicer of her federal student loan, until such time as her payments are current.”

The Daily Wire posted the whole letter online, which can be read here.

Social media naturally had a field day with this news, especially those who are fed up with Omar’s far-left rhetoric.

But the discourse over Omar’s finances did not originate with this inquiry.

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American Household Debt at Record Levels, However Americans Continue to Spend

Household debt continues to rise as Americans keep spending. Increases in the cost of living have outpaced salary growth, while elevated interest rates have added to the strain.

The elimination of Biden-era benefits and loan forgiveness programs has also weighed heavily on many households that had grown accustomed to government relief and easy credit.

Total U.S. household debt reached a record $18.59 trillion in Q3 2025, an increase of $197 billion from the previous quarter. Household debt is distributed across several categories, with mortgages making up the largest share.

Mortgage balances rose by $137 billion to $13.07 trillion, while credit card balances climbed by $24 billion to $1.23 trillion, an all-time high, nearly 6% higher than a year earlier.

Student loan debt also reached a record $1.65 trillion, while auto loan balances remained steady at $1.66 trillion.

By category, total household debt includes $13.07 trillion in mortgages, $1.66 trillion in auto loans, $1.65 trillion in student loans, $1.23 trillion in credit card debt, $0.55 trillion in other debt, and $0.42 trillion in home equity lines of credit (HELOCs).

While the debt itself is problematic, a more worrying economic indicator is the rise in delinquencies.

About 4.3% of total debt is now more than 30 days past due, the highest level since early 2020 but still well below the 11% recorded during the 2009 financial crisis.

Nearly 10% of all student debt has been reported as 90 days or more delinquent, marking a record high for student loan delinquencies.

Liberal Democrat policies are partially to blame, as the spike stems in part from missed federal student loan payments that were not reported to credit bureaus between Q2 2020 and Q4 2024, which are now appearing in credit reports following the end of the pandemic payment pause.

Currently, 7.7% of aggregate student debt was reported as 90 or more days delinquent, compared to less than 1% in Q4 2024.

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America’s $30 Trillion Publicly Held Debt Is 42 Times Larger Than It Was in 1980

In 1980, America’s publicly held debt reached more than $712 billion (about $2.8 trillion in 2025 dollars), or roughly 25 percent of annual U.S. gross domestic product (GDP). Today, that figure is a little over $30 trillion, or around 100 percent of GDP. And as the federal debt grew 42 times larger over that span, the economy grew only tenfold. You can’t expand the numerator four times faster than the denominator for 45 years without courting economic danger.

That’s where we find ourselves. The U.S. is at peace, and despite President Donald Trump’s claims, there’s no national emergency. And yet we’ve only seen debt as a higher share of GDP during the years of 1945, 1946, 2020, and 2021. Then, Republicans and Democrats knew to scale back. Now, debt explodes during emergencies and continues to grow in peacetime.

In 1946, after World War II, debt-to-GDP was 106 percent. It declined to just 25 percent by 1980, not only because of inflation and economic growth but because of real fiscal discipline. With budgets nearly balanced, the fruits of a booming private sector could actually reduce the burden. Beginning in the Reagan era, discipline gave way to a new normal of chronic budget deficits.

Three forces made the shift possible.

First, and the main cause of the mess we are in, is that the entitlement state became enormous yet untouchable. The Social Security reforms of 1983 are a rare example of bipartisan structural reform of a major entitlement program in U.S. history. Since then, despite economic and societal changes, the program has never been reformed. Never mind that it faces insolvency and the potential for automatic benefit cuts of more than 20 percent in 2033. The same is true of our other major debt driver: Medicare. And Medicaid is growing far beyond its original intent.

Democrats, occasionally helped by Republicans, have worked to expand welfare programs meant for lower-income people to those in higher and higher income brackets. The most recent and extreme example is the COVID-19–era expansion of the Obamacare tax credit to wealthier taxpayers, a significant share of whom enjoy early retirement. The fight over its continuation is what the government shutdown is about.

Second, Republicans discovered that promising tax cuts without offsetting spending cuts was politically painless so long as one claims that they “pay for themselves.” There is one rare and recent exception: this year’s “One Big Beautiful Bill,” which included $1.5 trillion in spending reductions over 10 years to offset some of the tax cuts. It’s not enough, but it’s something. Meanwhile, the Democrats love to claim that debt wouldn’t be a problem if the rich paid their “fair share.” They already do pay an enormous amount in taxes. But the numbers still don’t add up.

Finally, the Federal Reserve, starting under then-Chairman Alan Greenspan in 1987, learned how to anesthetize the political pain of budget deficits by keeping interest rates artificially low and monetizing debt. Politicians concluded that they could borrow endlessly without suffering political consequences. The problem is that this only works insofar as investors don’t worry that they will be paid back with inflated dollars.

That illusion has vanished. Interest costs have surged from $372 billion annually just a few years ago to nearly $1 trillion today, surpassing what we spend on defense or Medicaid. Within a decade, yearly interest payments are projected to nearly double, reaching $1.8 trillion. Even without new programs, the built-in deficit would keep rising and outpace economic growth. And Washington keeps adding more deficit spending.

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