11 Charts That Show How Our National Debt Grew in 2019
Here are eleven charts that tell America’s fiscal story for 2019 — and show how our outlook went from bad to worse over the last 12 months.
Read MoreDebt Is Expected to Grow Faster in the United States than Anywhere Else in the World
The United States leads the world in an unfortunate category: the pace of growth in its debt.
Read MoreTwo Years Later, What Are Economists Saying about the Tax Cuts and Jobs Act?
As more time passes since enactment, and as more data become available, economists continue to weigh in with analyses of the TCJA’s effects.
Read MoreDeficit to Rise Nearly 30% over Last Year, According to New White House Projections
The deficit could reach $1 trillion this year, according to the Office of Management and Budget (OMB), which released its annual mid-session review on Friday.
Read MoreCBO: Recent Budget Deal Will Add $1.7 Trillion to the National Debt over the Next 10 Years
The budget projections released by the Congressional Budget Office (CBO) reaffirm the perilous path of deficits and debt expected over the next decade.
Read MoreDeficits Much Larger Than Projected Just Three Months Ago
CBO projects that the deficit for 2019 will be $960 billion. That’s $63 billion (or 7 percent) above its estimate from just three months ago.
Read MoreWhy the 2019 Long-Term Budget Outlook Is More Bad News
This year’s report demonstrates why lawmakers should focus their attention toward improving our nation’s debt path as soon as possible.
Read MoreCBO Warns: Historic Debt Levels Pose Substantial Risks
Federal debt will rise to 144 percent of GDP within 30 years — far exceeding its all-time high, and nearly doubling today’s level.
Read MoreFive Key Takeaways from the CBO Long-Term Outlook
Interest costs are projected to triple. As the debt grows, the cost of paying interest on the debt is projected to increase rapidly.
Read MoreHigher National Debt Means Higher Interest Rates for the Federal Government
The amount spent by the federal government on interest is large and growing. Net interest will become the third largest “program” in the budget by 2025.
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