How big of a problem is the amount of US debt and the deficit?
Radio Spot Broadcast via Texas State Networks on April 24, 2024Dr. Perryman discussses the amount of US debt and the deficit for this year and the implications.
- Tags:
- debt,
- deficit,
- budget,
- United States
Debt
Column Published in syndication October 09, 2024The federal deficit for the past fiscal year was $1.8 trillion. While there have been times when it was that high (inflation-adjusted), they were during major wars or the pandemic. The fact that we are near record levels when the economy is growing is alarming, particularly given that (1) the Congressional Budget Office projects it at $2.9 trillion in 10 years if we remain on this trajectory and (2) both presidential candidates are backing proposals that would add more red ink.
- Tags:
- federal spending,
- debt,
- deficit