The United States' national debt has reached $40,000,000,000,000, doubling what it was just nine years ago. What has contributed to it, why isn't it slowing down, and who's to blame? NewsNation’s Elizabeth Prann, with analysis from Ted Jenkins and NewsNation's Steven Joachim, breaks down the U.S. debt ceiling and offers suggestions to start paying it back. How will President Trump's $5k payment vow factor into this continued increase? 0:00 - What is the debt ceiling? 6:45 - Who is the U.S. paying? 12:31 - Washington's favorite political weapon 15:19 - What happens if Congress doesn't act? NewsNation National Correspondent: Elizabeth Prann Executive Producer: Andy Gipson Editorial Producer: Meagan Ourada Segment Producer: Christine…
Douglas Elliman agent Michelle Griffith warns that New York business owners and job creators feel targeted by Mayor Mamdani's new surcharge, arguing City Hall needs to focus on reducing spending rather than taxing wealth generators.
The national debt has blown past $40 trillion for the first time, and the interest alone now costs taxpayers more than $1 trillion a year, a bill that budget experts warn will crowd out defense, drive up borrowing costs, and drag down wages for a generation. The milestone arrived in August, just five months after […] The post America's $40 trillion debt tab lands on every taxpayer's doorstep appeared first on American Almanac .
The national debt has blown past $40 trillion for the first time, and the interest alone now costs taxpayers more than $1 trillion a year, a bill that budget experts warn will crowd out defense, drive up borrowing costs, and drag down wages for a generation. The milestone arrived in August, just five months after the debt crossed $39 trillion in March. Five months before that, it had hit $38 trillion. Each trillion-dollar jump is coming faster than the last, a pace that AP News reported has left the United States ranked dead last in fiscal health among developed countries, according to OECD data. That $40.047 trillion figure is not an abstraction. It works out to roughly $120,000 for every American taxpayer and nearly $300,000 per…Open
Douglas Elliman agent Michelle Griffith speaks to Fox News Digital about latest developments around NYC’s secondary home taxes and other ‘crisis’ indicators. #FoxNewsDigital #FOXBusiness #realestate #nyc #Mamdani #piedaterre #taxes #nychousing #nycrealestate
Newsom says tax dollars go toward public programs, including early childhood development, youth substance abuse prevention, medical research and environmental recovery projects.
Climbing borrowing costs have become a headache for Treasury Secretary Scott Bessent. But the United States is not the only country grappling with the potentially destabilizing consequences of soaring government debt.
