The Growing Concern of Federal Debt in a Shifting Economy As the new year begins, the U.S. grapples with a daunting $34 trillion federal debt, surpassing the country’s annual economic output. This situation, a result of tax cuts by Republicans and expansive climate and health initiatives by Democrats, along with pandemic relief efforts, marks a significant shift from the previous decade. Once deemed manageable due to low interest rates and inflation, this debt is now viewed with increased concern. Moody’s recent downgrade of U.S. debt outlook to “negative” and Treasury Secretary Janet Yellen’s admission of potential sustainability issues underscore this change in perspective, echoed by economist Paul Krugman’s call for serious deficit reduction. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Signs of an Impending 2024 Recession, Says Citi's Top Economist READ MORE Gold Prices Waver as Markets Await Inflation and Fed Signals READ MORE Fed's Daly: Cooling Inflation May Warrant One or Two Rate Cuts in 2024 READ MORE 56% of Americans Unable to Cover $1,000 Emergency Costs READ MORE New Billboard in Times Square Sounds Alarm on $34 Trillion National Debt Crisis READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment