The Congressional Budget Office says that U.S. debt could reach 118% of the economy by 2035 because of rising borrowing and an aging population. Trump’s plan to extend the 2017 tax cuts could make the debt worse, adding trillions to the deficit. While his budget includes cuts to government programs, experts say these won’t fix the long-term debt problem. The U.S. debt, which is currently at $36 trillion, is a result of years of spending and revenue issues and there are growing worries about economic instability and higher borrowing costs. Though Social Security and Medicare are facing funding problems Washington is more focused on tax cuts and spending cuts than fixing these programs.
https://www.nytimes.com/2025/03/27/business/trump-debt-tax-us.html
2 comments:
I wonder if any president will ever get the national debt down. It seems like every administration promises it but it just goes up more. When will they end up reaching the breaking point?
It seems like every year the national debt increases; how much does it impact the U.S. economy. If our debt seems to be a problem, why don't we focus on trying to decrease it rapidly or does it not matter?
Post a Comment