The GOP-led House canceled votes ahead of the August recess without getting the 12 appropriations bills passed, breaking a promise to voters.
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Tag: Majority Whip Tom Emmer
Watchdog: Biden’s 2025 Budget Would Drive National Debt to $45 Trillion in 10 Years, 106 Percent of GDP
The Committee for a Responsible Federal Budget (CRFB) a budget watchdog group, found that President Joe Biden’s fiscal year 2025 budget would drive the national debt to $45.1 trillion or 106 percent of the U.S. Gross Domestic Product (GDP) by 2034, from $27.4 trillion or about 97 percent of GDP at the present time.
The organization noted that those calculations are based on the Biden administration’s own internal figures. The current $27.4 trillion debt figure is the debt held by the public, not the total national debt including intragovernmental holdings.
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