Month: February 2021

Economists Warn We Can’t Keep Ignoring the National Debt  Forever

Economists interviewed by FEE warned that when the dust settles after COVID-19, we’ll still have a major problem on our hands. With COVID-19 ravaging the country and government pandemic lockdowns devastating our economy, the national debt has understandably slipped to the back of many Americans’ minds. But the federal government continues to fall deeper into […]

The National Debt Makes our Inequality Problem Worse | Opinion

For many Americans, the national debt—now approaching $30 trillion—is an afterthought that must always take a backseat to the social and economic problems of the day. Now, it’s the COVID-19 pandemic and recovery. Before that, it was the 2008 recession. Before that, wars in Iraq and Afghanistan. While people are suffering, who can be so callous as […]

Rep. Stewart proposed plan to address national debt

Today, Congressman Chris Stewart (UT-02) introduced the Debt Control Through Budget Reconciliation Act of 2021. This legislation establishes annual debt-to-GDP targets that would gradually reduce the public debt over the next 30 years to approximately 50 percent of GDP (the average annual debt-to-GDP level over the past 30 years). The CBO projects that the nation’s debt to GDP ratio […]

Deep Dive: US debt hits 100% of GDP. Should the credit markets care?

The nonpartisan Congressional Budget Office recently released its publication, The Budget and Economic Outlook: 2021 to 2031, highlighting that during 2020 the U.S. national debt held by the public rose to 100% of GDP for the first time since the end of the Second World War. Will such high levels of U.S. debt, so worrisome in […]

CBO: U.S. National Debt To Hit $30T, Exceed Size Of U.S. Economy This Year

The U.S. is nearing a fiscal meltdown amid a rising national debt and federal spending due to coronavirus lockdowns. The Congressional Budget Office said the national debt is on track to exceed the size of the U.S. economy this year. This may result in an even higher interest to be paid on the existing U.S. […]

How the National Debt Affects Your Investments

Rising federal budget deficits and national debt could eat into stock market returns. By Paulina Likos and Coryanne Hicks USNEWS Jan. 25, 2021 How the National Debt Affects Investors The rising U.S. federal debt is now larger than the country’s gross domestic product. THE NATIONAL DEBT MAY seem as far removed from your investments as your parents’ debt is from your bank […]

Opinion: We already went ‘big’ on coronavirus relief. More of the same won’t solve the problem.

Opinion by Steve Scalise and Tim Phillips Washington Post – Feb. 19, 2021 at 3:57 p.m. EST Steve Scalise, a Republican, represents Louisiana’s 1st Congressional District and is minority whip of the U.S. House. Tim Phillips is president of Americans for Prosperity, a grass-roots advocacy group. President Biden says the risk of coronavirus relief legislation is not in going too big […]

U.S. federal debt to exceed size of economy even before Biden stimulus is approved, CBO says

Economic Policy CBO’s deficit projections come the day after the Federal Reserve chair warned that unemployment remains very high By Jeff Stein Washington Post  Feb. 11, 2021 at 6:56 p.m. EST America’s federal debt is set to exceed the size of the entire U.S. economy this year for only the second time since the end of […]