Legislation passed in December and other developments have set the stage for higher deficits and national debt. Trillion-dollar deficits could now return as early as next fiscal year and the debt could exceed the size of the economy within a decade. We have a rundown on what could run up the debt and other happenings related to the federal budget.
Health care returned to the spotlight as Republicans tried one last time to replace Obamacare and many Democrats rallied around legislation to make the federal government the sole health care insurer.
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.
If we needed any reminder that the national debt is a serious problem that needs fixing, we got several this week. Here’s a quick recap of the recent developments and what they mean.
Washington faces a packed agenda aimed at growing the economy, with important areas such as health care and tax reform on the table. At the same time, the new administration and Congress face historically high and rising national debt. That’s why we published a timely guide for reducing the debt while growing the economy.
National Debt and You