OP 02 February, 2022 - 06:39 AM
Quote:Total public debt outstanding is now above $30 trillion, according to Treasury Department data. Interest costs alone are projected to surpass $5 trillion over the next 10 years and will amount to nearly half of all federal revenue by 2051. Rising borrowing costs will limit how much money Washington can spend on other priorities like climate change, climate change. The national debt has skyrocketed in recent decades, driven up in part by the 2008 financial crisis and then the pandemic. Two-thirds of Americans in a CNN poll in December said government spending is a major problem.
Source: https://edition.cnn.com/2022/02/01/econo...index.html
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