1. Unless we can raise the kind of revenue we will have to downscale our public spending or borrow again to pay the debt and of course they try and it has experience with your relays and current interest rates to keep them at this level we need to show our creditors we are in good physical standing to tax policy reform is really a war best option
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Even before the pandemic, the federal deficit was large by historical standards and projected to rise. The sharp recession and the spending increases that Congress and the president approved in response has made the deficit even bigger. Big deficits mean a growing federal debt—the total the government owes—already at its highest point since World War II. Extraordinarily low interest rates allow the U.S. to shoulder a heavier debt burden, but the debt is on an unsustainable course and its size may limit the government’s ability or willingness to continue to fight the economic ill effects of the pandemic or future economic downturns.
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