The U.S. Congress has been reckless and irresponsible for many years with regards to budget deficits and federal debt.
National debt now is at 123% of GDP!
Reforms like balanced budget requirement are urgently needed!
"Sustained deficit spending by the U.S. government helped push the national debt up to a jaw dropping $31.38 trillion in 2023, according to U.S. Treasury data. Fiscal watchdogs are now predicting that the interest alone on that debt will soon eclipse both entitlements and defense spending as a major component of the annual budget. ...
At the same time that the national debt is at a record high, interest payments in mid-2022 stood at just under $600 billion ..."
At the same time that the national debt is at a record high, interest payments in mid-2022 stood at just under $600 billion ..."
No comments:
Post a Comment