#national-debt-crisis

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#fiscal-policy #defense-spending #iran-conflict #budget-deficit #fiscal-policy-preparedness
US politics
fromFortune
1 day ago

'The conflict in Iran demonstrates why we need to keep our national debt at a reasonable level': think tank sees economic emergency around the corner | Fortune

The Committee for a Responsible Federal Budget warns that America's high national debt poses a critical vulnerability, urging fiscal restraint in war funding as the U.S. faces potential $50 billion emergency defense requests.
US politics
fromFortune
4 days ago

America's never had such high national debt heading into an economic shock. We need a 'break glass' plan, think tank warns | Fortune

U.S. national debt now equals 100% of GDP, the highest since World War II, leaving the country severely unprepared for the next economic crisis with limited fiscal capacity to respond.
fromFortune
1 week ago

Interest on the $38.8 trillion national debt has tripled since 2020 and it already costs taxpayers more than defense and Medicaid | Fortune

The United States is now paying nearly $970 billion a year just to service the interest on its $38.8 trillion national debt - a figure that has nearly tripled since 2020 and already exceeds what the federal government spends on national defense or Medicaid, according to a February analysis by the Committee for a Responsible Federal Budget (CRFB).
Retirement
fromwww.mediaite.com
2 weeks ago

How Broken Is the Media? Just Look at the Coverage of Trump's Exploding Debt Crisis

In mid-February, the nonpartisan Congressional Budget Office (CBO) released a shocking report calculating that at the current rate of increase, the national debt is set to hit $64 trillion by 2036. Sixty-four trillion dollars is such an eye-popping number—double the national debt in 2023 and triple where it stood in 2018—that it would mean the public would owe over 120% of overall GDP, crushing the previous record of 106% in 1946.
US politics
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