National debt crosses $40 trillion in grim milestone
National debt crosses $40 trillion in grim milestone.
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Summary
National debt crosses $40 trillion in grim milestone. Total US public debt surpassed US$40 trillion for the first time, and has now surged by a third in less than five years, as US lawmakers continue to shrug off calls to contend with historically wide financial deficits. The national debt exceeded $40 trillion for the first time in history, leading economists to warn that the United States is staring down a fiscal reckoning.
Furthermore, Affordability and cost-of-living challenges are the biggest issues for voters heading into the midterm elections. Republicans have long opposed revenue-raising tax increases, while both parties have been loath to sign on to politically toxic cuts to healthcare and retirement benefits for seniors.
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National debt crosses $40 trillion in grim milestone.
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Total US public debt surpassed US$40 trillion for the first time, and has now surged by a third in less than five years, as US lawmakers continue to shrug off calls to contend with historically wide financial deficits.
according to South China Morning Post — WorldThe national debt exceeded $40 trillion for the first time in history, leading economists to warn that the United States is staring down a fiscal reckoning.
according to Washington ExaminerAffordability and cost-of-living challenges are the biggest issues for voters heading into the midterm elections.
according to Washington ExaminerRepublicans have long opposed revenue-raising tax increases, while both parties have been loath to sign on to politically toxic cuts to healthcare and retirement benefits for seniors.
according to South China Morning Post — World
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