Congressional Budget Office director Phillip Swagel analyzes where lawmakers stand to slow down debt growth.
The astronomical rise in the U.S. national debt poses “significant risks” to the global economy and threatens to continue fueling high inflation, according to a new warning from the International Monetary Fund.
In its latest Fiscal Monitor, the Washington-based institution said that it expects the U.S. to record a fiscal deficit of 7.1% in 2025 – more than triple the level in other advanced economies.
“Loose fiscal policy in the United States exerts upward pressure on global interest rates and the dollar,” Vitor Gaspar, director of the IMF’s fiscal affairs department, told reporters. “It pushes up funding costs in the rest of the world, thereby exacerbating existing fragilities and risks.”
US NATIONAL DEBT TRACKER FOR APRIL 17, 2024: SEE WHAT AMERICAN TAXPAYERS (YOU) OWE IN REAL TIME
The Capitol Building in…
