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The U.S. national debt, currently over $36 trillion, will soon exceed its record high of 106% of GDP. ... Democrat lawmakers argued that Trump-era tax cuts only exacerbated the debt problem and ...
Of the $35 trillion in U.S. national debt, only about $8-9 trillion is held by foreign countries. China, the debt hawk’s No. 1 boogeyman, holds only $816 billion or 2.3 percent of this $35 trillion.
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 ...
If the average daily rate of debt growth over the past three years continues, the gross national debt will reach $37 trillion within 5 months, $39.2 trillion in 2026, and $40.95 trillion in 2027 ...
CBO projected in February 2013 that the debt held by the public will rise from $11.3 trillion in 2012 to $18.9 trillion in 2022 under its "baseline scenario," an increase of $7.6 trillion over 10 years. The total national debt will rise from $16 trillion in 2012 to $25 trillion by 2022, an increase of $9 trillion. [8]
Today, the federal government budget deficit is $1.8 trillion, and the outstanding government bonds and other forms of borrowing — the national debt — totals $36 trillion. And yet the republic ...
It publishes a monthly "Debt position and activity report" which includes the debt held by the public, the intra-governmental debt, and national debt ("Total public debt outstanding"). As of December 31, 2016, these amounts were: Debt held by the public: $14.43 trillion. Intra-governmental debt: $5.54 trillion. National debt: $19.97 trillion. [50]
The Bush tax cuts of 2001 and 2003. Addition to the debt: $2.2 trillion. The first tax cut George W. Bush signed into law in 2001 was a stimulus measure meant to boost the economy after the dot ...