Liberal Forum

jerrab » 9 minutes ago » wrote: ↑

9 minutes ago

the  results of this bill.

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Increased National Debt The Congressional Budget Office estimates that the bill would add $3.8 trillion to the national debt, exacerbating the existing $36 trillion debt burden [2]. This could lead to higher interest rates, making borrowing more expensive for individuals, businesses, and the government.Higher Interest Rates and Borrowing CostsAs investors become increasingly wary of the US debt, they may demand higher interest rates to compensate for the risk. This could result in higher borrowing costs for mortgages, car loans, and credit card debt, affecting consumers and businesses alike [3]. "The reason everyday Americans should care about fiscal sustainability is this is a long-running cost of living issue," said Ernie Tedeschi, director of economics at the Budget Lab at Yale [4].