The federal deficit is growing by $2 trillion each year. Americans are grappling with affordability amid the Iran war and President Trump's tariffs. Economics Editor at The Bulwark Catherine Rampell and University of Michigan Professor of Economics Betsey Stevenson join Ali Vitali to provide more insight.
Bond yields soared on the news, which comes as the U.S. national debt clears $40 trillion.
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.
The debt surpassed $40 trillion just ahead of the upcoming November midterm elections that will determine if Republicans keep control of Congress for the second half of Trump’s final term.
The relative indifference to the news that the U.S. government now owes $40 trillion demonstrates how drastically the politics of deficit spending has changed.
American Thinker AI By Vince Coyner Some laughed, thinking it impossible to destroy the American economic juggernaut, but decades later, we’re $40 trillion in debt.
President Trump’s plan to raise the debt limit through the end of his presidency before Republicans likely lose control of Congress is on shaky ground because of rising concerns over the national debt — which has reached $40 trillion. The president is quietly pushing Senate Majority Leader John Thune (R-S.D.) and House Speaker Mike Johnson (R-La.) to use a third budget reconciliation package to extend the debt limit through 2029 — the end of Trump’s term — to avoid the prospect of a difficult negotiation with Democrats next year if they win control of the House or both chambers of Congress. Read More: https://thehill.com/homenews/senate/6050623-trump-debt-limit-bond-market-republicans/ #trump #debt #senate #politics #congress
The U.S. has reached a national debt of $40,000,000,000,000, but what does that mean to you? Chris Stirewalt breaks it all down. #nationaldebt #debt #economy #politics
In the ancient world, debt forgiveness was a regular tool to control the economy. Why have we forgotten it?
WASHINGTON, D.C. — Though the U.S. national debt officially surpassed $40 trillion this week, Congress was quick to assure Americans that the issue could be easily fixed by spending more money.