2 years, 4 months ago
Report: Federal debt lower in 2022; still poised to climb
Associated PressThe Congressional Budget Office said Wednesday that the end of pandemic-era spending, fast economic growth and higher tax revenues have caused the federal debt this year to be lower than forecast. GOP lawmakers have also stressed the importance of containing federal debt, yet annual deficits worsened during the tenure of former President Donald Trump. This year’s budget deficit is equal to 3.9% of GDP, but annual federal borrowing will average nearly twice that level — 7.3% — over the next 30 years. They say the current path of federal debt could slow growth, increase interest payments to foreign nationals, heighten the odds of a fiscal crisis and make the economy more vulnerable to rising interest rates.
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History of this topic
1 day, 20 hours ago
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10 months, 2 weeks ago
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11 months, 3 weeks ago
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1 year, 2 months ago
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1 year, 3 months ago
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1 year, 5 months ago
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1 year, 7 months ago
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1 year, 10 months ago
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1 year, 10 months ago
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3 years, 9 months ago
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3 years, 9 months ago
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4 years, 2 months ago
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4 years, 5 months ago
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