US Edition
Can Trump fix the national debt? Republican senators, many investors and even Elon Musk have doubts
- President Donald Trump faces skepticism from Republican senators, global investors, voters, and Elon Musk over his multitrillion-dollar tax breaks package passed by the House last month.
- This skepticism stems from concerns that the proposed tax and spending reductions could increase the national debt by over $5 trillion within the next ten years, with differing opinions on the extent to which economic growth might counterbalance these deficits.
- The national debt has exceeded $36.1 trillion, with yields on 10-year Treasury notes climbing to approximately 4.5%. Meanwhile, the administration's economic advisors predict stronger growth over the next four years—around 3.2% annually—surpassing the Congressional Budget Office’s forecast of 1.9%.
- Critics including economists and senators warn growth alone will not reduce deficits and expect higher debt to sustain elevated interest rates, while the administration credits tariff revenues and growth to manage deficits.
- The unresolved deficit issue is causing political backlash, with some senators threatening to block legislation until serious spending reductions occur, while Trump continues to seek votes to enact his fiscal agenda.
171 Articles
171 Articles
North Platte Nebraska's Newspaper
Skepticism grows over Trump's ability to fix debt
WASHINGTON — President Donald Trump faces the challenge of convincing Republican senators, globa investors, voters and even Elon Musk that he won' bury the federal government in debt with his multitrillion-dollar tax breaks package.
Central Maine News
Portland Press HeraldBalancing the national budget will require discipline, sacrifice
We the people have a big problem right now. The national debt is climbing again to $37 trillion and the interest that taxpayers will pay this year is $952 billion. Some are thinking, “That’s not real money, it’s not on me!” Actually, that is real money. It will be paid this year and it will […]
The response of the financial markets to the court assessed in several billion dollars has been marked by cecicism. A proposal approved in the House of Representatives will be discussed in the Senate.
Coverage Details
Bias Distribution
- 65% of the sources are Center
To view factuality data please Upgrade to Premium
