America's debt tops $34 trillion, but a commission to address it appears dead in Congress
America's debt tops $34 trillion, but a commission to address it appears dead in Congress
A promising start has given way to challenging political realities for supporters of a bipartisan commission to tackle the federal government’s growing debt challenges.
For Mike Johnson it was effectively a Day 1 priority.
It’s well past time, the newly elected House speaker said in October, to establish a bipartisan commission to tackle the federal government’s growing $34.6 trillion in debt. “The consequences if we don’t act now are unbearable,” he said, echoing warnings from his predecessor and other House Republicans.
More than six months later, the proposal appears all but dead, extinguished by vocal opposition from both the right and the left.
The collapse underscores an unyielding dynamic in Washington, with lawmakers in both parties loath to consider the unpopular tradeoffs that would be necessary to stem the nation’s swelling tide of red ink — particularly in an election year. Facing the reality that any fiscal commission would almost certainly suggest that Americans pay more or get less from their government, lawmakers have time and again done what they do so well: punt the problem to the next Congress. And they seem poised to do so again.
ha, wow. this really highlights how out of whack the conservatives are. the debt is usually the club they use to beat the dems into submission when they do not control the whitehouse. when conservatives have the white house, the debt is never, ever an issue.
You’re spot on. Called the two Santa Clauses theory.
Ah, the regular "America's debt is $___" article, which never seems to make a difference in my life.
That's a lot of money and the most in the world, but USA is also the worlds biggest economy. The better way to measure is by % of GDP, and when you look at it that way, USA is number 45, with 95% as of December. With a few countries with bigger debt percentage, that are considered very strong and healthy economies like for instance Norway and Denmark.
https://en.wikipedia.org/wiki/List_of_countries_by_external_debt
Funny how the national debt only ever comes up when Republicans want something
We keep lowering taxes on the wealthiest and then wondering why we can't afford our budgets. How stupid are we? The national debt will get solved the moment we start making corporations and people earning 7 figures (US$) a year pay their fair share instead of spending it on megaprojects and megayachts.
Republicans plan to bleed the country dry and let it fall. Wake up.
Wow, who the hell cares? It's literally made up money. I've watched the debt climb year after year, with zero impact to day to day life.
Well, if people don't like inflation -- a source of major popular complaint -- paying down the national debt will tend to tamp down on it, I suppose.