With U.S. Interest Costs Skyrocketing, Voters Overwhelmingly Call for Fiscal Commission
As a new House Speaker takes the helm and Congress faces another looming government shutdown deadline, U.S. voters are focused on big-picture fiscal challenges, including the growing burden of interest costs.
New polling by Democratic firm Global Strategy Group and Republican firm North Star Opinion Research shows that voters are deeply concerned about interest costs eating up more and more of the federal budget. Moreover, there is overwhelming bipartisan support for the creation of a dedicated commission to recommend fiscal solutions.
On Capitol Hill, as Congress has drifted from one fiscal crisis to the next, there is growing momentum for a dedicated process to tackle our debt with lawmakers on both sides of the aisle expressing support. Late last month, a bipartisan group of leaders introduced legislation to establish a commission to recommend a comprehensive package of spending and revenue reforms to stabilize our fiscal outlook.
Further Reading
What’s the Difference Between the Trade Deficit and Budget Deficit?
The terms “budget deficit” and “trade deficit” can be conflated, but they are distinct measurements of important fiscal and economic concepts.
The Federal Government Has Borrowed Trillions. Who Owns All that Debt?
Most federal debt is owed to domestic holders, but foreign ownership is much higher now than it was about 50 years ago.
The Fed Reduced the Short-Term Rate Again, but Interest Costs Remain High
High interest rates on U.S. Treasury securities increase the federal government’s borrowing costs.