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Iraq war costs U.S. more than $2 trillion: study

Iraq War - Reuters

The U.S. war in Iraq has cost $1.7 trillion with an additional $490 billion in benefits owed to war veterans, expenses that could grow to more than $6 trillion over the next four decades counting interest, a study released on Thursday said.


US household wealth regains pre-recession peak

It took 5½ years. Surging stock prices and steady home-price increases have finally allowed Americans to regain the $16 trillion in wealth they lost to the Great Recession.


Deficit reduction target reached, but no one's happy

Barack Obama

As automated federal spending cuts take effect, projected red ink for the next decade has been reduced by about $4 trillion. But this wasn't how Democrats or Republicans wanted to do it.


Exclusive: China plans bond overhaul to fund $6 trillion urbanization - sources

China plans major bond market reform to raise the money the ruling Communist Party needs for a 40 trillion yuan ($6.4 trillion) urbanization program to buoy economic growth and close a chasm between the country's urban rich and rural poor.


Indonesia readies for $1 trillion trade talks

Indonesia may hold the key to a $1 trillion injection into the global economy. That's how much the World Trade Organization believes is riding on talks later this year in Bali, when trade ministers hope to cut through some of the red tape that slows global commerce.


US Treasury to take steps to avoid debt ceiling

The U.S. Treasury Department will begin taking steps this week to delay hitting the government's $16.4 trillion borrowing limit. The government is facing a crunch on the debt ceiling because the issue has become ensnarled in talks to avoid some $600 billion in tax hikes and spending cuts due to begin in early January. Failing to raise the debt ceiling could cause the government to default on its debt.


Exclusive: Study shows $1.2 trillion gap for public pensions

The largest 100 public pension funds have around $1.2 trillion of unfunded liabilities, about $300 billion above the nearly $900 billion they reported themselves, according to a new actuarial study to be released on Monday.


National debt hits $16T; GOP critical

The Treasury Department said Tuesday that the national debt has topped $16 trillion, the result of chronic government deficits that have poured more than $50,000 worth of red ink onto federal ledgers for every man, woman and child in the United States....


Republicans unveil 'national debt clock'

The Tampa Bay Times Forum has a new kind of scoreboard -- a "national debt clock" that is ticking up to $16 trillion. The ever-ticking clock, hanging above the delegates to the Republican convention, is designed to be "a compelling visual reinforcing the desperate need for new fiscal leadership in the White House," says the Republican National Committee.


Much at stake for US as tensions rise in China Seas

Vast oil reserves, trillion-dollar trade routes, fervent nationalist sentiments, competing territorial claims and bitter histories – the waters off the east coast of China are a sea of money and a sea of trouble.


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