Economists say the latest debt numbers are cause for concern, despite President Joe Biden touting his efforts to cut the deficit this year. The president recently signed the so-called Inflation Reduction Act, in an attempt to tame the biggest price increases in 40 years caused by a variety of economic factors.
Owen Zidar, an economist at Princeton, said rising interest rates will exacerbate the nation’s mounting debt problems and make debt itself more expensive. The Federal Reserve has raised rates several times this year in an effort to combat inflation.
The Congressional Budget Office released a report on America’s debt load earlier this year, warning in its 30-year outlook that, if not addressed, the debt will soon climb to new highs and jeopardize the economy. from United States. (ANSA).
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
