The Latest Breaking News from National Debt

Here’s a dirty secret: both Republicans’ debt hysteria and Biden’s proposed tax hikes are pure theater. Neither will happen

The national debt grew by more than $4 trillion in 2020 alone.

The Department of Finance said that it is one of the highest per capita debt burdens in the world.

Consumers and businesses aren’t the only ones feeling the pain of higher borrowing costs because of Federal Reserve rate hikes. Uncle Sam is too.

As our nation bumps up hard against a national debt north of $31 trillion, let’s start with the obvious: Our expenditures are greater than our revenue. And while this isn’t the crisis that Republicans imagine when a Democrat is in the White House, common sense suggests that bringing expenditures and…

For all the sound and fury about raising the nation's debt limit, most economists say federal borrowing is not at a crisis point

After he was elected speaker on the 15th ballot, Kevin McCarthy promised that the U.S. House under Republican leadership would protect the national economy, saying that the party was committed to “stop wasteful Washington spending, to lower the price of groceries, gas, cars, housing, and stop the rising national debt.”

Republicans have long claimed they are dedicated deficit hawks, blaming Democrats for growing deficits and debt. But two votes they cast after electing Kevin McCarthy as House speaker prove that Republicans are charlatans when it comes to deficit reduction.

Congressional Democrats last year showered the IRS with $80 billion in new funding in an effort to close an estimated $600 billion “tax gap,” the difference between income taxes actually owed and those actually collected. This was supposed to help pay for the Biden administration’s ongoing spendapalooza that has run…