A raging virus, a struggling economy and a fast-growing mountain of debt.
What President Biden Inherits
Issues: deficits
Mnuchin Spins Pre-COVID Path to Debt Reduction
An analysis by the Congressional Budget Office contradicts Treasury Secretary Steven Mnuchin’s claim that before COVID-19 hit, the U.S. was experiencing “extraordinary” economic growth that “would pay down the debt over time.”
Buttigieg Gives Trump Too Much Blame for Debt
Democratic presidential candidate Pete Buttigieg blamed tax cuts backed by President Trump for creating the nation’s debt problem. But while those tax cuts are worsening the nation’s debt, spiraling deficits and debt over the next decade were projected even before those tax cuts were enacted.