#National Debt

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There’s a familiar ring to the latest report by the Government Accountability Office (GAO) on the nation’s fiscal health, and that is not a good sign. The new report reiterates GAO’s past warnings about the federal government’s budget problems and…


Federal budget projections are already quite alarming, with the national debt high by historical standards and rising rapidly. The fiscal picture looks even worse, however, if one takes into account federal insurance programs and other activities that transfer financial risks…


With many lawmakers in both parties acting as if the high and rising national debt doesn’t matter, Federal Reserve Chairman Jerome Powell has provided a timely reminder that it does. Powell delivered that message to Senate and House committees last…


Last week the national debt hit $22 trillion and the president declared an emergency. Too bad the two things were not related. Even as the debt continues its upward climb, policymakers seem remarkably unconcerned. In fact, most of the leading…


How do high and rising federal deficits hurt ordinary Americans? With the Treasury Department’s recent announcement that the deficit had climbed to $779 billion in the fiscal year that just ended -- a 17 percent increase over the previous year…


Lawmakers made noteworthy progress last week on spending bills for the coming year, at least as far as timeliness is concerned. Congress approved three bills and negotiators announced a bipartisan agreement on a much larger package that could avoid a government…


A few weeks ago, we discussed a Congressional Budget Office (CBO) report that showed its standard projections, which assume current laws remain in place, likely understate the projected path of debt and that if Congress continues certain recent policies, the…


While the White House celebrates the economy’s strong second-quarter showing, it is important to keep in mind that economists generally consider this a temporary phenomenon rather than a harbinger of higher growth levels over the coming decade. The U.S. Commerce…


Large majorities of business economists said in a recent survey that current U.S. fiscal policy is overstimulating the economy and should be aimed at reducing the federal deficit rather than increasing it. The National Association for Business Economics said 81…


The federal budget is currently on an unsustainable path, and that path has been made worse by recent congressional action. Yet a new Congressional Budget Office (CBO) analysis shows that its standard projections, which assume current laws remain in place,…


President Trump’s claim this week that his tariffs will enable the government to start "paying down" large amounts of the federal debt is wrong for a very simple reason: It is impossible to reduce debt while you are still adding to it.…


Ben Bernanke, Henry Paulson and Timothy Geithner played central roles in dealing with the financial crisis 10 years ago that stunned the nation and threatened economic disaster. The three former policymakers recently discussed some of the lessons to be learned…

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