Politicians Are Keeping Their Debt Promises.

Because that deficit was much smaller than the ones in the previous two years, which included trillions in Covid spending, the 2022 deficit was celebrated by the Biden administration and probably treated too kindly by most in Washington. About two-thirds of the projected increase in borrowing costs is due simply to interest-rate increases, and one of the reasons that the CBO cites for an increase in interest rates is the ballooning federal debt. ARTICLES At his State of the Union address in February, President Biden got a bipartisan round of applause when he urged Republicans and Democrats to promise not to reform Social Security or Medicare. [Extracted from the article]

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