The US government’s decision to let its debt burden skyrocket in 2018 is part of a larger shift in how the government finances itself.
The US has been paying back more than $200 billion in debt since 2008.
Now, it’s just getting started.
The New York Times reports that the government has pledged to pay down its debt by about $1 trillion, with an expected payoff of about $300 billion in 2019.
But that’s not quite enough to fully bail out the US economy.
The country’s budget deficit is already projected to rise by more than a third, to $5.6 trillion in 2021, the Times reports.
That would require $2.5 trillion in additional debt payments.
That’s about the size of the economy today, which is roughly $13 trillion.
The Treasury Department’s budget for 2021, for instance, has a deficit of about one-third of the current size.
In other words, the US government will need to pay more than twice as much in interest to borrow money.
This means that we’ll need to increase our deficit more than three times in order to fully pay down debt in 2019, the New York Daily News reports.
What’s more, the budget for fiscal 2021 is projected to grow more slowly than its budget for 2020, and the government is likely to spend less money than it raises through the tax code.
The Federal Reserve expects to begin raising interest rates by the end of 2018, and that will add more uncertainty to the debt market.
For instance, it could mean higher interest payments to consumers and higher borrowing costs for banks and credit card companies.
And the Federal Reserve has hinted that interest rates could be higher in the future.
“The interest rate trend in 2018 and 2019 may be driven by the Fed’s decision in February 2018 to raise rates for longer periods of time, but longer periods are not an absolute certainty,” the Federal Open Market Committee said in a statement.
“We do not expect to raise interest rates beyond a range of 2 percent to 3 percent from the current range of 0.75 percent to 1.0 percent.
This could result in interest rates moving higher over time.”
As a result, policymakers may need to spend more money to pay for their debt.
The Times also notes that interest payments could increase faster than expected, with a $3.8 trillion increase in 2019 and a $4.7 trillion increase by 2026.
That means more people will have to borrow from the government, which could push up inflation.
The government will also need to cut spending to avoid a $1.9 trillion shortfall by 2021, which would put the US in a position of having to balance its budget on the backs of future Americans.
And, of course, we’re still not done with debt.
Interest payments on the government’s debt will rise in 2019 to about $17.4 trillion, the Washington Post reports.
As the debt-ceiling crisis continues, Congress may have to consider cutting spending further.
According to the WSJ, the government may have the opportunity to make a deal with lawmakers that allows it to cut the amount it spends on Social Security, Medicare, Medicaid, and other federal programs without raising taxes.
As a whole, the federal budget is projected by the Congressional Budget Office to shrink by $7.2 trillion in 2019 — about 1.8 percent of GDP.
And there’s no clear path for Congress to find the money to get back to balance.
Congress may not have the votes to raise taxes on the rich or the middle class, which are important parts of any budget.
But if there is to be an increase in the debt ceiling, we may need more money.
The WSJ says that the US Treasury could ask Congress to increase the debt limit by about 15 percent of its current budget, with the goal of raising the debt from about $16.8trn to $18.7trn by the time of a full-year congressional election.
That way, the debt would be raised without adding to the deficit.
The debt ceiling also means that the Treasury would be able to borrow at a lower interest rate than the Fed is currently able to.
So the government would be more able to pay back its debt, and it could help ease a recession that has been slowing down.
If the US were to get out from under the debt burden it is currently saddled with, we could be more competitive in the global economy.
We’d be more likely to keep our factories open and keep our industries competitive.
And our companies would be the ones that benefit the most.
We wouldn’t have to invest in overseas factories that aren’t in the US, which will hurt our domestic industries.
We could invest in the next wave of growth, and we’d be able grow our economy even faster.
But we would be left behind if we don’t start putting money back into our economy right now.
That will mean investing in our infrastructure, including our water, energy, and broadband infrastructure.
The next generation of American workers won’t be making $25