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DeepNewz, mobile.
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The United States is facing a significant national debt crisis, with the debt exceeding $34 trillion and rising by $1 trillion every few months. This unsustainable trajectory is highlighted by the issuance of $7 trillion in debt within a short period. Various politicians and analysts are calling for measures to control spending and address the growing debt burden.
The US fiscal deficit is on a rising trajectory relative to GDP growth. Trump wants more tax cuts & Biden seeks greater growth stimulus spending. Either choice means escalating fiscal deficits...until something bad happens https://t.co/NH7cXoLTED
The US issued lots of Treasury bills (red) when COVID hit, building a war chest in the Treasury general account (black). Normal. It rebuilt this account in 2023 from low levels, also with short-term debt. Normal. But it's still issuing mostly short-term debt even now. Not normal. https://t.co/SHlfm4spVM
America’s national debt is a ticking time bomb and it’s putting us all at risk! It’s time to get our fiscal house in order. $34 trillion is not the best our nation can do.
