"Making President Donald Trump’s tax cuts permanent could send US debt held by the public above 200% of GDP in a few decades, according to the nonpartisan Congressional Budget Office."
Total US debt is $36 trillion, and debt held by the public is about $29 trillion. The cost to service US debt payments already tops $1 trillion a year, even more than the Pentagon’s budget, adding further to the debt.
President Donald Trump’s signature economic policy from his first term—the Tax Cuts and Jobs Act—is set to expire at the end of this year. Trump and top Senate Republicans have called for making the cuts permanent.
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Making President Donald Trump’s tax cuts permanent could send US debt held by the public above 200% of GDP in a few decades
Unusual WhalesHeretical_i hat dies geteilt