According to Treasury Department data, the federal government has spent nearly quarter of its budget — 23% — on Social Security in fiscal year 2023.
House Speaker Kevin McCarthy is at loggerheads with members of his caucus who are demanding steep spending cuts and crackdowns on illegal immigration in return for their support for a short-term spending measure that would keep the federal government operating.
The US national debt continues to climb, according to data released by the Treasury Department on Monday.In fiscal year 2022, the federal government spent $6.27 trillion, which represents one-fourth of gross domestic product . Fitch said worsening political divisions around spending and tax policy was a key reason for its decision.
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US national debt surpasses $33 trillion for first timeThe grim milestone comes as Congress debates a new spending plan to avert the looming government shutdown.
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US national debt hits $33T for first time in historyThe U.S. national debt exceeded $33 trillion on Monday for the first time ever, setting off alarm bells over unprecedented levels of government spending.
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US national debt hits $33T for first time in historyThe U.S. national debt topped $33 trillion for the first time ever on Monday, crossing a critical milestone at a time when government spending is a...
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Treasury yields rise as investor attention turns to upcoming Fed meetingU.S. Treasury yields climbed on Monday as the focus shifted to this week’s Federal Reserve meeting and the latest interest rate decision.
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