Federal government must stop spending

A major economic concern facing the newly-elected Biden Administration is the significant rise in the national debt. The administration's proposed $6 trillion budget for infrastructure and a variety of social programs will lead to a serious budgetary deficit. Even given the most optimistic scenarios that Biden will be successful in raising corporate taxes and taxing the country's highest earners would still leave a budgetary shortfall of nearly $2 trillion. As a result, the federal government will be forced to borrow money in the capital market – crowding out other borrowers (ie, corporations and individuals), in the process driving up interest rates.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.