House, Trump and US Debt
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US government debt is soaring and foreign investors are getting nervous. We don’t really know where the tipping point is.
2don MSN
Ray Dalio, Ken Rogoff, and Niall Ferguson are among those who are worried about a potential meltdown.
The federal government now spends more on servicing its debt than it does on defense. The GOP's new tax bill could ratchet that higher, experts say.
The debt ceiling is the limit placed by Congress on the amount of debt the government can accrue. In order to pay its bills to those it borrowed from and dole out money for everything from Medicare benefits to military salaries, the government needs more money, so the debt ceiling has to be raised.
An intriguing thing has been happening in Washington. After years — decades, really — when concerns about the growing federal debt were largely set aside, it’s actually become part of the debate.
Concerns about the national debt from Elon Musk and some Republican lawmakers is complicating the path to passage for Trump's "One Big Beautiful Bill Act."
The United States of America is never going to default, that is never going to happen,” said U.S. Treasury Secretary Scott Bessent on June 1. History suggests that, when it comes to defaults, politicians should never say never.
Governor Albert Bryan Jr. on Tuesday issued a fiscal impact analysis highlighting the financial implications of legislation recently approved by the 36th Legislature that raises the minimum annual salary for government workers from $27,000 to $35,000. The mandated increase is scheduled to take effect on October 1, 2025.