Debt as a share of the United States economy is on track to blow through the previous World War II-era record within two decades and keep rising from there, the Congressional Budget Office said in its annual long-term budget report.
President Trump’s proposed budget would add $2.3 trillion more to deficits over the next decade than the White House estimated, the Congressional Budget Office said Thursday.
The US ratcheted up pressure on Venezuelan President Nicolas Maduro on Monday by further tightening economic sanctions against the cash-starved leftist regime.
Global debt hit its highest levels ever and governments should take actions to reduce their indebtedness while the going is still good, the International Monetary Fund said.
Republicans’ tax cuts and the new spending bill Congress approved last month will send the economy surging this year to 3.3 percent growth -- but will also send the deficit soaring back to the record levels of the early Obama years, the Congressional Budget Office said Monday.