Government Spending Is Costing You: The 3 Ways Washington’s Debt Comes Home

Government borrowing is never free — and taxpayers ultimately pay the bill. The Center Square publisher Chris Krug and PhD economist Orphe Divounguy break down the three ways government debt can hit American households: higher taxes, higher interest rates and higher inflation. The discussion examines why massive government borrowing can put upward pressure on Treasury yields, mortgage rates, car loans and business borrowing — while rising interest costs consume an increasingly large share of federal spending. Federal spending reached roughly $5.52 trillion, compared with $4.15 trillion in revenue, while interest costs have become one of the largest components of the federal budget. What does America's debt mean for your household, mortgage, business and purchasing power? And can economic growth actually help the country grow its way out of the debt problem? Watch the full discussion to understand how government borrowing can ultimately affect the taxpayer. #GovernmentDebt #Inflation #Taxes #InterestRates #Taxpayers #Economy #FederalDebt #MortgageRates #Finance #economics Support this podcast: https://secure.anedot.com/franklin-news-foundation/ce052532-b1e4-41c4-945c-d7ce2f52c38a?source_code=xxxxxx Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.