It’s been a little over a week since the Committee for a Responsible Federal Budget sent a letter to Kamala Harris and Donald Trump suggesting the two presidential candidates get serious about “skyrocketing” national debt, which now exceeds $35 trillion.
Washington is spending $1.8 trillion more than it collects annually.
“Our publicly held debt will soon surpass the entire size of the U.S. economy, and debt is projected to exceed its previous record, 106% of gross domestic product, in 2027,” the organization’s letter to Harris and Trump warned. “At a projected cost of $892 billion this year, our nation already spends more on interest on the debt than we do on both national defense and all federal spending on children.”
“The costs and promises just keep coming,” Maya MacGuineas, head of the Committee for a Responsible Federal Budget, observed…
