While examining how either Vice President Kamala Harris or former President Donald Trump’s policy and spending proposals could impact the national debt, Committee for a Responsible Federal Budget (CRFB) President Maya MacGuineas weighs in on what 2025 will mean for the US federal debt.
2025 will kick off in January with the return of the debt ceiling. We’ll have a number of months where they they don’t do deal with it. And they shuffle around some money in trust funds with extraordinary measures. But we are going to have to lift that debt ceiling. And the question is, will we, as we did last time, attach some kind of fiscal improvements along with lifting it?” MacGuineas ponders.
“Or will they, as in past years, actually include additional legislation that would make the debt worse?”
MacGuineas goes on to comment on the biggest burdens within US spending as the economy begins to exit from a high-interest rate environment.
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