Criticism of sustained deficit spending prompted house Republicans earlier this year to pressure the White House to make budgetary concessions in the Fiscal Responsibility Act that aimed to address the nation's runaway spending. The debt service may soon exceed that of major allocations. Sustained deficit spending by the U.S. government helped push the national debt up to a jaw dropping $31.38 trillion in 2023, according to U.S. Treasury data. Fiscal watchdogs are now predicting that the interest alone on that debt will soon eclipse both entitlements and defense spending as a major component of the annual budget................To Read More....
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