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
The Fed Held Its Target Range After Reducing the Short-Term Rate Three Meetings in a Row
High interest rates on U.S. Treasury securities increase the federal government’s borrowing costs.
How Does the United States’ Fiscal Position Compare to Other Countries’?
The United States has higher budget deficits and spends more on interest costs than its peers.
Top 10 Reasons Why the National Debt Matters
At $38 trillion and rising, the national debt threatens America’s economic future. Here are the top ten reasons why the national debt matters.