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. […]