![](https://investmentwaveupdates.com/wp-content/uploads/2023/05/debt20deal202023-RcXjTg-728x400.png)
Congress is considering the Biden‐McCarthy debt‐reduction deal. The Fiscal Responsibility Act of 2023 would reduce deficits by $1.5 trillion over the coming decade.
The reduction would be a start at righting the federal government’s fiscal ship, but just a small start.
The $1.5 trillion in savings would take a very modest bite out of the $20 trillion in cumulative deficits and $80 trillion in cumulative spending expected over the coming decade.
Once congress gets this budget battle behind it, it can move on to larger reforms.
What's your reaction?
Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0