"Doom Loop" Engaged: US Debt Hits $40 Trillion As Treasury Enters The Endgame
4 Articles
4 Articles
The only solution to our $40 trillion debt problem is a value-added tax
As the U.S. national debt reaches $40 trillion, Peter J. Tanous argues that the massive deficit can only be addressed through a significant revenue-generating measure like a Value-Added Tax rather than through insufficient spending cuts.
"Doom Loop" Engaged: US Debt Hits $40 Trillion As Treasury Enters The Endgame
It took the US 200 years to reach its first $1 trillion in debt. It took 95 days to add its last. After several weeks of build up, today the Treasury announced that total public debt surpassed $40 trillion for the first time, after jumping by over $60 billion in one day, and has now surged by […]
The United States, which for years set the rules of the global economy with its dollar and financial power, is now facing a debt of nearly $40 trillion; a debt that has almost quadrupled since the beginning of the Obama administration, and now the cost of maintaining this power has become one of Washington's biggest problems.
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