Debt-Ceiling Rhetoric Obscures America’s Harrowing Fiscal Reality
In the next 10 years, the federal government will spend more than $80 trillion, most of it on three programs, while it will only collect $60 trillion as revenue.
If you read news coverage about the brewing battle over raising the debt ceiling, you might think it’s a fight between demons and angels. On one side, you have Republicans who are willing to risk a default on the government’s debt unless they get spending cuts that will starve people.
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