House Budget Committee Republicans are proposing billions of cuts from wasteful EPA programs, Biden s student loan relief, and reducing fraud in food stamp programs, as budget fights loom.
Over $1T in COVID federal funds unspent: GAO foxbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foxbusiness.com Daily Mail and Mail on Sunday newspapers.
years gone by the credit rating was reduced. let there be no question, we will address the debt limit. eric: and we have jen psaki, play that, do we have jen psaki? i guess we support the passing of $2 trillion in tax cuts, that did not bear out the financial benefit he promised and also certainly added to the deficit. the president takes these issues seriously. he is focused on being a president who cares about the future of our the next generation. eric: you heard from both. they they have full faith and credit the united states won t be damaged and the president cares about future generations. your reaction? eric, that s hogwash. what we need now more than ever is fiscal restraint. the budget committee republicans, we ve proposed a number of common sense options that will prevent our country from defaulting including reducing our current deficit and future debt and ending the
Here we are on Friday night and let me say go woke, go broke.
According to the Congressional Budget Office, through June, total federal debt in the hands of the public is $21.7 trillion dollars.
Total debt itself, which includes intergovernmental transfers (like social security, trust funds), comes to $28.5 trillion dollars.
So, call it 100% of GDP. It s a nice round number and easy to remember. Under current law, the CBO estimates federal debt in public hands will be $35.8 trillion by 2031 in their 10-year forecast.
That is not including any of the new Biden spending proposals, which could be $3.5 trillion (or maybe $4 trillion or maybe $5 trillion) or maybe more if they really crank up the woke.