The Trillions of Reasons Why America Is Headed for a Debt Crisis

A fiscal storm has been brewing over America for years, and things are only getting worse.

Publicly held debt—the debt the U.S. is borrowing from credit markets (as opposed to debt owed to federal trust funds like Social Security)—is at its highest level as a percentage of gross domestic product since World War II.

To address the problem, Congress and the president must work together to enact a responsible, pro-growth budget that puts spending and taxes on a sustainable path to balance.

Budget cuts in President Donald Trump’s proposal to Congress this week are a key step on that path.

…continue reading

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: