Tag Archives: America just took on trillions in debt and we need a plan to pay it

The White House and Congress quickly authorized more than $2 trillion debt-financed spending in response to the emerging recession. No clear explanations of the long-term costs or principled limit on emergency borrowing could be heard among the voices claiming credit and promising relief. Treasury Secretary Steven Mnuchin summarized the prevailing attitude: “we’ll deal with [the debt] later.” This week Congress …

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