2min chapter

FiveThirtyEight Politics cover image

There's A Debt Ceiling Agreement ... For Now

FiveThirtyEight Politics

CHAPTER

The White House's Rounding Error on the Debt Cut

The debt for the United States is $31.5 trillion, 120% of GDP. We spend 7% of our annual budget servicing the debt paying off the interest. The president's top economic advisor Lael Brainerd was on Good Morning America and said this isn't really a big enough deal to have a significant impact on the economy.

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