- The Fiscal
- What We're
- What You
Today, Congress passed wide-ranging tax reform legislation that will add substantially to the national debt according to all independent analyses, even when factoring in economic growth. Our national debt is already projected to grow rapidly in the coming years, and piling on more debt can harm our economy by crowding out private investment, reducing our fiscal flexibility, increasing the risk of a sharp jump in interest rates, and lowering confidence and certainty.
Specifically, why should Americans care that the tax cut package passed at the end of 2017 will expand the debt?
Image credit: Getty Images/iStockphoto