The U.S. Congressional Budget Office reports that the federal government is borrowing far more this fiscal year than the year before even as inflation continues to rise.
The CBO released its deficit estimate which said the U.S. deficit hit about $1.5 trillion in the first 11 months of this fiscal year.
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Monday morning on The Tennessee Star Report, host Leahy welcomed the original all-star panelist Crom Carmichael to the studio for another edition of Crom’s Crommentary.
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Republicans who once criticized former President Barack Obama’s handling of U.S. debt quietly watched as the federal government debt hit $23 trillion for the first time in history.
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by Rachel del Guidice Restoring fiscal sanity to Congress is a matter of national security, the chairman of the House’s largest Republican caucus says. “It’s not a sustainable trajectory,” Rep. Mike Johnson, R-La., chairman of the Republican Study Committee, said of a national debt that has topped $22 trillion. “It’s not when we have military officials, the Pentagon officials, the top brass come in and testify to Congress under oath,” Johnson said. “They always say when they’re asked the question, ‘What is the No. 1 threat to national security?,’ they say debt is not a sustainable trajectory for the country. We have to address it.” Johnson, joined by Rep. Jim Banks, R-Ind., the RSC’s budget and spending task force chairman, spoke in a conversation Tuesday at the Rayburn Building on Capitol Hill moderated by Genevieve Wood, a senior adviser and spokeswoman at The Heritage Foundation. Banks said he believes the national debt can be decreased by reforming programs such as Medicare, Medicaid, and Social Security. “We have to find ways to reform those programs to, one, make them sustainable and allow them to survive into the future, but also make reasonable and responsible modifications,” Banks said. The Republican Study…
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