Joint Economic Committee report looks at threat of rising interest rates
A new report from the Congressional Joint Economic Committee (JEC) examines the growing threat that rising interest rates pose to the nation's fiscal stability. The report, titled “Federal Interest Spending Could Now Exceed Half of Available Tax Receipts in Ten Years,” says that rising rates could consume more than half of available federal tax receipts by 2036, among other key findings. It warns that rising borrowing costs, compounded by the nation's growing debt, could trigger a fiscal ...
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