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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 ...
Balancing the budget is virtually impossible, and even stabilizing the long-term debt at today's 100 percent of GDP requires wildly unpopular changes to Social Security and Medicare (and will ...
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 ...
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.
As of September 30, 2014, debt held by the public was approximately $12.8 trillion. Intra-governmental debt, such as the Social Security trust fund, was at $5.0 trillion, giving a combined public debt or national debt of $17.8 trillion or about 105% GDP. [9] The debt-to-GDP ratio is projected to continue rising if the U.S. continues current ...
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 ...
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]
In March 2017 they wrote of rising national debt, "Both parties have contributed to the problem, and leaders in both are unwilling to ruffle feathers and make the tough choices needed." [ 6 ] They said of gross national debt exceeding $22 trillion in February 2019, "This milestone is another sad reminder of the inexcusable tab our nation's ...
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