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www.keithhennessey.com | ||
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www.gao.gov
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| | | | | Increased federal spending in response to COVID-19, as well as rising interest rates, have added to our nation's financial woes. At $2.8 trillion, the FY 2021 budget deficit was the second largest in history-just short of the FY 2020 deficit of $3.1 trillion. These historically large deficits were due primarily to the economic disruptions caused by COVID-19-which decreased revenues in FY 2020-and the additional spending by the federal government in response to help the nation recover from the pandemic. | |
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www.pgpf.org
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| | | | | Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world in 2023. | |
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en.mercopress.com
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| | | | | Moody's Ratings decision last week to lower the US credit rating to Aa1 from Aaa, (the highest investment-grade position) triggered strong reactions and criticisms from President Donald Trump and his political advisor. | |
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www.pew.org
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| | | The federal government and nearly every state with an income tax offer the student loan interest deduction. This provision allows taxpayers to subtract interest paid on student debt from their taxable income to help families reduce the cost of borrowing for higher education. The maximum federal deduction, $2,500, has not changed since 2001, but between 2007 and 2016, student loan balances increased by 106 percent in real terms and the cost to the federal government of the deduction more than doubled-rising 107 percent, after adjusting for inflation. | ||
