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How America ran up its debt, and who should be blamed
The nonpartisan foundation’s signs argue that federal spending and recent tax cuts have fueled the debt, while experts debate who bears responsibility.
- Rising federal fiscal imbalances stem primarily from increased costs in mandatory spending programs and enacted tax cuts, according to the Mercatus Center at George Mason University.
- Spending growth in Medicare, Medicaid, Affordable Care Act subsidies, and Social Security creates nearly three-quarters of the imbalance, with Charles Blahous, Mercatus Center senior research strategist, noting these costs have expanded since the 1960s.
- Legislation like the 'One Big Beautiful Bill' accounts for roughly 30% of the deficit, compounding pressure from mandatory spending increases enacted over recent decades.
- Both political parties bear responsibility, as administrations from Ford to the present have added to the fiscal imbalance and neither has consistently restrained spending or offset tax cuts.
- The Peter G. Peterson Foundation emphasizes that without moderating spending on major programs and stopping tax cuts, federal debt will continue rising unaddressed.
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36 Articles
36 Articles
Shoreline Media GroupReposted by 
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ItemliveCommentary: How the federal debt happened
The federal government is drowning itself in red ink, caused by its spending far more than the revenues it collects. Economists agree that the debt explosion raises Americans’ borrowing costs, inhibits economic growth, and makes us all poorer. Yet our…
Journal Gazette & Times-Courier+33 Reposted by 33 other sources
How America ran up its debt, and who should be blamed
The federal government is drowning itself in red ink, caused by its spending far more than the revenues it collects. Economists agree that the debt explosion raises Americans’ borrowing costs, inhibits economic growth and makes us all poorer.
Coverage Details
Total News Sources36
Leaning Left4Leaning Right1Center30Last UpdatedBias Distribution86% Center
Bias Distribution
- 86% of the sources are Center
86% Center
11%
C 86%
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