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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.
Once a routine and unexciting part of the market, debt issuance by the Treasury is now a hot Wall Street topic as investors plot how to avoid losses — or capture profits — from this new source ...
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 ...
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 ...
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 ...
Debt of a sub-national government is generally viewed as less risky for a lender if it is explicitly or implicitly guaranteed by a regional or national level of government. When New York City declined into what would have been bankrupt status during the 1970s, a bailout came from New York State and the United States national government. U.S ...
When Trump was last in the White House in 2020, the federal government was spending $345 billion annually to service the national debt. It was possible to run up the national debt with tax cuts ...
On January 19, 2023, the United States hit its debt ceiling, leading to a debt-ceiling crisis, part of an ongoing political debate within Congress about federal government spending and the national debt that the U.S. government accrues. [1] [2] In response, Janet Yellen, the secretary of the treasury, began enacting temporary "extraordinary ...