Things are hot and heavy in Washington in the middle of summer with lots of action on issues affecting the budget and debt. The forecast calls for deficits and debt to rise considerably but the outlook for producing next year’s budget remains unclear. Here’s your fix for the latest developments on the federal budget and national debt.
Federal Reserve Chair Janet Yellen made it clear in congressional testimony that the national debt is on an unsustainable path that policymakers must address.
Just when federal budget dysfunction in Washington appeared to hit rock bottom, policymakers discovered new lows with this year’s process. And the affects will be widely felt.
The nonpartisan Congressional Budget Office (CBO) last week warned yet again that the United States faces rising budget deficits and national debt that will endanger the country and Americans’ pocketbooks. As politicians bicker over a budget, you have a chance to show how you would solve the problem.
The official budget watchdog of Congress issued its latest budget and economic forecast on Thursday, showing deficits and debt growing even higher than previously expected. It also repeated a now familiar warning that high and rising debt will negatively impact the economy, the country, and each of us.
National Debt and You