Marketplace Time for a national debt history lesson
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Jul 1, 2025 A recent Senate bill is set to skyrocket the national debt by over $3 trillion, raising eyebrows among economic experts. Dive into the history of the U.S. national debt, tracing its roots from the Revolutionary War to today. The construction sector faces a downturn, with a slump in apartment starts driven by rising financing costs. Meanwhile, Home Depot is shifting strategies to enhance its wholesale business. The stock market remains volatile, responding to various economic developments, while climate issues affect local wildlife and industries.
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FTZ Boosts Local Business Revenue
- Micro Commercial Components uses a Foreign Trade Zone (FTZ) warehouse to store imported semiconductors tariff-free near the Port of Long Beach.
- This FTZ strategy boosted revenue by 30% over five years and attracted more firms interested in tariff savings.
FTZs Transform Local Economies
- Cities like Phoenix use Foreign Trade Zones to attract manufacturing industries, transforming economies from consumption-based to production-based.
- This shift creates jobs, raises salaries, and increases tax revenue for community investments.
Origins and Growth of US National Debt
- The national debt has grown to $36.2 trillion, fueled by wars, tax cuts, and crises like the 2008 recession and COVID-19 stimulus.
- Debt itself isn't bad; governments borrow for essential functions and crisis responses, but unchecked growth leads to unsustainable interest burdens.