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Between 1989-2020, the national debt soared by more than 800% as Congresses and presidents from both parties approved massive spending increases and massive tax cuts at the same time.
The U.S. national debt broke a new record after crossing the $36 trillion mark for the first time as the federal government's mounting budget deficits cause the debt to surge.
Today, silly people like Biden and Sen. Elizabeth Warren (D–Mass.) say we can "fix" our deficit by taxing the rich. Since the stock market's risen almost 30,000 points in 15 years, there are a ...
The national debt was up to $80,885 per person as of 2020. [153] The national debt equated to $59,143 per person U.S. population, or $159,759 per member of the U.S. working taxpayers, back in March 2016. [154] In 2008, $242 billion was spent on interest payments servicing the debt, out of a total tax revenue of $2.5 trillion, or 9.6%. Including ...
A country's gross government debt (also called public debt or sovereign debt [1]) is the financial liabilities of the government sector. [2]: 81 Changes in government debt over time reflect primarily borrowing due to past government deficits. [3] A deficit occurs when a government's expenditures exceed revenues.
Nine specific government actions during the last 25 years pushed the national debt toward today's crisis levels. Blame Republicans, Democrats — and voters.
Bearish forecasters note that the government is spiraling deeper into debt, and there's no sign the trend will reverse. Publicly held debt is projected to reach 122.4% of GDP by 2034, up from 97.3 ...
This is a list of countries by government debt. Gross government debt is government financial liabilities that are debt instruments. [1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and ...