Deficit

The winner of the presidential election and majorities in Congress will face several looming fiscal deadlines for the national debt, spending levels and expiring tax cuts in 2025.

A new analysis by the Committee for a Responsible Federal Budget (CRFB) found that former President Trump's and Vice President Harris' economic plans would add trillions to the debt.

Gold prices have reached record highs this week amid uncertainty surrounding the upcoming election as well as the continued growth in the U.S. national debt and fiscal deficits.

Billionaire hedge fund manager and Trump fundraiser John Paulson said that former President Trump's economic plan would help lower inflation in part by curbing excess spending.

Treasury Secretary Janet Yellen touted increased enforcement of tax laws by the IRS as helping to close the budget deficit by addressing the tax gap with respect to unpaid tax debts.

The federal budget deficit exceeded an estimated $1.8 trillion in fiscal year 2024, the CBO reported. Budget watchdogs are warning that the U.S. needs to act to rein in budget deficits.

The federal government is on pace to run a $1.9 trillion budget deficit in FY2024, which would rank as the third-largest after even larger deficits were incurred in recent years.

Billionaire David Rubenstein warned that the surging costs of servicing the national debt now exceeding defense spending are a sign "the country is in trouble."

Government spending and immigration reform need to be addressed in the first year for whoever wins the White House in November, as both are key to the stability of the U.S. economy.

Vice President Harris released part of her economic agenda aimed at lowering costs for families, which the nonpartisan CRFB estimates would add $1.7 trillion to the national debt.

The U.S. national debt is growing rapidly to record-setting levels, and economist Brian Riedl proposes a bipartisan plan to stabilize the debt's growth to avert a future debt crisis.

The national debt surpassed $35 trillion for the first time just months after topping $34 trillion, as the federal government faces widening budget deficits and fiscal deadlines loom.

Former President Trump tapped Senator JD Vance of Ohio as his running mate and vice presidential nominee for the 2024 GOP ticket, which has put a spotlight on Vance's policy views.

The U.S. national debt is on pace to set a new record in 2027 when compared to the size of the economy as federal budget deficits are projected to widen in the years ahead.

The U.S. national debt is fast approaching a record level when compared to the size of America's economy after the Trump and Biden administrations added to the debt.