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.
Changes to health care face an uncertain future as a vote on the Senate bill to replace “Obamacare” was delayed. But it is clear that whatever happens will significantly affect the national debt.
National Debt and You