Thanks to the Bipartisan Budget Act of 2019, which has been described as “the worst budget deal in history,” the U.S. government will spend $57.9 trillion over the next 10 years, with $12.2 trillion of that spending requiring new borrowing that will add to the U.S. government’s bloated $22.7 trillion national debt. Those already...
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Less than two months after acting to bail out the nation’s money markets because of a liquidity crisis that arose from a surge in U.S. government borrowing to fund its spending, Federal Reserve Chair Jerome Powell testified before the U.S. Congress that the federal government’s current course of debt-fueled spending is on an “unsustainable...
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The U.S. government’s total public debt outstanding has nearly reached $22.6 trillion with two weeks left to go in the government’s 2019 fiscal year.

The Treasury Department has recently revised and updated its estimates of who the U.S. government has borrowed from for its 2018 fiscal year.

For Americans troubled by the ongoing lack of fiscal discipline on Capitol Hill, nine other words are perhaps very scary: “We have actually now agreed on the spending numbers”.

If things go as analysts at the Bipartisan Policy Center expect, the U.S. government will face a heightened risk of defaulting on its $22 trillion debt in early September.

The U.S. government directly owes the nation of China over 1.1 trillion dollars.

Net interest on the national debt has become one of the fastest growing segments of federal spending.

The Congressional Budget Office has issued its Budget and Economic Outlook for 2019 through 2029, where it projects that for the next 10 years, the U.S. government’s spending and tax collections will each grow at an average annual rate of 5 percent a year.

The interest due on U.S. national debt has put the gov on a course to spend more on debt than national defense.