Month: October 2020

Both Trump And Biden Plans Would Pile On National Debt, But Trump A Little Less

Forbes, Sarah Hansen October 7, 2020   TOPLINE In a new analysis of President Trump’s and former Vice President Joe Biden’s campaign policy proposals, the Committee for a Responsible Federal Budget found that a Biden presidency would add $5.6 trillion to the national debt over ten years while a Trump presidency would add just under $5 trillion. […]

A U.S. Debt Crisis: From Denial to Reality

On September 21st, the Congressional Budget Office released a long-term outlook on government debt. In a dire warning the CBO projects that in 2050 the debt will equal 195 percent of GDP. A debt explosion of this magnitude should rightfully send shivers through the country. This is a mounting national crisis that transcends party lines […]

U.S. government debt will nearly equal the size of the entire economy for first time since World War II, CBO finds

Report comes after huge increase in the deficit this year as government attempted to limit coronavirus fallout By Jeff Stein, Washington Post – September 2, 2020 at 3:15 p.m. MDT For the first time since World War II, the U.S. government’s debt will roughly equal the size of the entire American economy by the end of […]

Federal Borrowing Amid Pandemic Puts U.S. Debt on Path to Exceed World War II

Federal debt, as a share of the economy, hit 98 percent in the 2020 fiscal year. Many economists are pushing lawmakers to add even more to it. By NYT – Jim Tankersley-  September 2, 2020 WASHINGTON — A surge in government borrowing in the face of the pandemic recession has put the United States in a […]