The national debt now stands at more than $38 trillion. The tariff revenue we rake in is just a drop in the bucket compared to that amount.
As the government borrows more and more it makes it more expensive for U.S. consumers to borrow money for mortgages, cars, and more.
Under current debt projections, economists cannot even model out a functioning long-term economy.
A look back at the history of the national debt, and what the GOP’s new budget bill might mean for the debt going forward.
The Congressional Budget Office estimated that if the House bill were to pass as written, the deficit would increase by almost $3 trillion.
Historically, bond investors more or less swallow the debt the U.S. government takes on, but this time they may be less inclined to do so.
Republicans have a slim majority in the House of Representatives — and those from liberal states could throw their weight around.
The new administration hopes that energy dominance and government efficiency can bring down borrowing rates.
The Trump administration said the tax cuts would pay for themselves, but according to a study “that’s just not true at all.”
The US government is $36 trillion in debt. But who is owed all that money?
