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While there are many factors, the three most important are these: 1) We've convinced ourselves that deficits do not matter; 2) partisan politics and the collapse of lawmaking have turned deficits ...
Hint: It doesn't have to. ... America's national debt is well over $33 trillion — but here's why the country won't pay it down. Lou Carlozo. November 25, 2023 at 8:30 AM.
The gargantuan national debt is finally starting to matter. Usual wobbles in the market for Treasury securities suggest the US government may finally be issuing more debt than investors can absorb ...
The U.S. government will pay close to $900 billion this year just in interest payments on the national debt. The national debt is over $34 trillion. It’s time to tell the truth about the U.S ...
Today, the national debt actually exceeds the GDP of the entire U.S. economy, hitting $33.84 trillion. In the past few years, the national debt has risen dramatically due to increased spending on ...
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 ...
After weeks of debates and delays, the U.S. Senate passed bipartisan legislation to lift the federal debt ceiling just days before the June 5 deadline set by the Treasury Department. Though...
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.