The U.S. Congress began imposing debt limits in 1776. When the Continental Congress authorized its very first loan from France, it instructed U.S. commissioners to borrow a “sum not exceeding two million sterling.” Congress continued to permit the Treasury to borrow only up to bond-by-bond specific limits until 1917. Prior to then, U.S. Treasury secretaries actually operated under multiple debt limits, authorized bond by authorized bond. The single, aggregate debt limit we’re more familiar with today was first adopted by the U.S. in 1939.
The consumer health company features a range of leading brands, a relatively cheap valuation, a solid balance sheet, consistent earnings, and a healthy dividend yield. It’s no tech unicorn, a good thing in 2023.
Americans spent 53 billion hours on TikTok last year, according to one Wall Street estimate. If the service is banned in the U.S., much of that time could go to Meta, YouTube, and Snap. What it all means for stocks.
Wall Street Journal (March 28, 2023) – While many people often aspire to accumulate around a million dollars in retirement savings, most people wind up with far less than that. WSJ retirement reporter Anne Tergesen spoke to retirees on how they’re making do, and she joins host J.R. Whalen. Photo: Mikaela Martin
Video timeline: 0:00 The typical family’s 401k and IRA account balance 1:05 How retirement funds should depend on lifestyle choices 1:51 How retirees who save less than $1 million are getting by 3:53 Steps to take to ensure you have enough retirement savings
Many Americans dream of saving $1 million for retirement. Most fall far short of that.
The typical family’s 401(k) and IRA-type accounts come to less than half that goal in the years approaching retirement age, according to the nonprofit Employee Benefit Research Institute. Total household balances in retirement accounts for those 55 to 64 years old are $413,814 on average, according to its estimates based on 2019 data, the most recent available.
Some economists say the Federal Reserve must pause its interest-rate-rising campaign to help bolster banks, while other economists say that such a pause would indicate the Fed isn’t serious about taming inflation.