One expert calls it “a truly depressing achievement.”
The national debt, which measures what the U.S. owes its creditors, has reached new heights after hitting $34 trillion — but this is most certainly not a cause for celebration.
In fact, it’s a “truly depressing achievement,” according to Maya MacGuineas, president of the watchdog group Committee for a Responsible Federal Budget. In a statement, she cited political leaders’ unwillingness to make tough fiscal decisions as a reason for this tough situation, and she offered a call for lawmakers to devise a plan to address the ballooning budget.
“We remain hopeful that policymakers will take further measures to reduce our borrowing either by raising taxes, reducing spending, or creating a fiscal commission — or ideally by doing all of the above,” MacGuineas said in a statement.
This immense financial burden can be…
