Deficits
America’s $30 trillion publicly held debt is 42 times larger than it was in 1980
In 1980, America's publicly held debt reached more than $712 billion (about $2.8 trillion in 2025 dollars), or roughly 25 percent of annual U.S. gross domestic product (GDP). Today, that figure is a little over $30…
Despite DOGE cuts, federal spending rose by $300 billion last fiscal year
President Donald Trump returned to the White House with a promise to slash spending by trillions of dollars and balance the federal budget. But, as the first fiscal year of his second term came to a close, progress had not…
Shutdown Livestream: This Won't Fix Trillion-Dollar Deficits
Reason's Peter Suderman and Eric Boehm discuss the government shutdown live at 3 p.m. Eastern time today. Join the livestream here. The government has shut down—but don't get too excited. Taxes are still being taken…
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