Why does Washington care more about Russian "Collusion" with the Trump campaign than they do the national debt, which just passed $21 trillion on Friday?
Federal borrowing has been on the rise again since February, when Congress passed legislation to suspend the debt ceiling.
At its current pace, the government is on track to add at least $1 trillion to the national debt by then.
The debt grew by more than half a trillion dollars in the six weeks since the debt ceiling was lifted on Feb. 9.
A large part of the national debt reflects the federal budget deficit, or the amount of spending above the revenues collected by the government.
The massive debt means that as the Federal Reserve raises interest rates, servicing that debt begins to skyrocket.
If interest rates merely return to 1990s levels, the resulting costs would raise the 2027 budget deficit from $1.4 trillion to $2.2 trillion.
https://pjmedia.com/trending/washington-cares-collusion-21-trillion-national-debt/
Federal borrowing has been on the rise again since February, when Congress passed legislation to suspend the debt ceiling.
At its current pace, the government is on track to add at least $1 trillion to the national debt by then.
The debt grew by more than half a trillion dollars in the six weeks since the debt ceiling was lifted on Feb. 9.
A large part of the national debt reflects the federal budget deficit, or the amount of spending above the revenues collected by the government.
The massive debt means that as the Federal Reserve raises interest rates, servicing that debt begins to skyrocket.
If interest rates merely return to 1990s levels, the resulting costs would raise the 2027 budget deficit from $1.4 trillion to $2.2 trillion.
https://pjmedia.com/trending/washington-cares-collusion-21-trillion-national-debt/
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