Debt Is Expected to Grow Faster in the United States than Anywhere Else in the World
The United States leads the world in an unfortunate category: the pace of growth in its debt.
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The United States leads the world in an unfortunate category: the pace of growth in its debt.
While deficits will decline over the next few years as the pandemic wanes and the economy recovers, the nation will remain on an unsustainable fiscal trajectory due to a structural mismatch between spending and revenues.
The President’s budget for fiscal year 2022 calls for a large increase in nondefense discretionary spending next year as well as substantial spending for infrastructure and social programs over the upcoming decade.
The budget would achieve some deficit reduction on paper under the administration's calculations, but it fails to address the key drivers of our debt.
Although a return to a normalized interest environment is a good sign for the strength of the economy, rate increases will make it more expensive to borrow.
The report highlights the structural misalignment in the country’s budget and the resulting unsustainable fiscal trajectory.
Setting a higher minimum wage would affect family incomes in a variety of ways, including increasing earnings for most low-wage workers and lifting some families out of poverty.
Seven in ten voters from across the political spectrum say the record national debt will be an important factor in their vote in next week's Midterm Elections.
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
On March 15, 2018 the federal government passed an unfortunate milestone: $21 trillion dollars in gross federal debt.
https://www.pgpf.org/blog/2018/04/the-national-debt-grew-by-1-trillion-in-just-six-months