Higher Interest Rates and the National Debt
Higher short- and long-term Treasury rates mean that the federal government's borrowing costs will also rise.
The search found 852 results in 0.286 seconds.
Higher short- and long-term Treasury rates mean that the federal government's borrowing costs will also rise.
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
“America’s fiscal outlook is more dangerous and daunting than ever, threatening our economy and the next generation."
“Voters understand the urgency of our fiscal challenges, and that’s why they want lawmakers to take concrete steps to secure our future,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/06/fci-press-release
Increasing the debt ceiling allows the Treasury to borrow funds to pay for government obligations that have already been incurred as the result of laws and budgets approved by the President and Congress.
When the debt limit is close to being breached, or when a suspension of the ceiling is nearing, lawmakers would have to act to avoid serious economic and budgetary consequences.
https://www.pgpf.org/blog/2023/06/how-the-lack-of-action-on-the-debt-ceiling-can-hurt-the-economy
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for April 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-april-2023
If lawmakers do not agree on raising or suspending the debt limit before the extraordinary measures are exhausted, there would be severe consequences.
https://www.pgpf.org/analysis/2023/06/debt-ceiling-update-whats-at-stake
“As the national debt grows continually while the ceiling deadline inches closer, voters have an unprecedented level of concern about our fiscal outlook,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/05/fci-press-release
“Today’s CBO report is a timely reminder that as lawmakers work to raise the debt ceiling, they should also address the underlying problem of our rapidly growing national debt."
https://www.pgpf.org/press-release/2023/05/peterson-foundation-statement-on-cbo-report