D.C.’s affordability headache has a silver bullet, new study shows: Tackling $40 trillion national debt would boost household income by $36,000
Source: Fortune ·
"Deficit reduction can further reduce inflation by lowering self-reinforcing inflation expectations to the extent it reduces the likelihood that future policymakers will aim to inflate away the national debt."
From the source
The cost to the U.S. government of servicing the $40 trillion national debt pile is not difficult to come by: The Treasury publishes its own data on interest payments. The costs to households and individuals are more difficult to pinpoint, but a new report from the Committee for a Responsible Federal Budget (CRFB) suggests deficit reduction is the key to solving an affordability crisis. Household costs have become a political lightning rod, both in the run-up to the 2024 presidential elections and again in 2026, ahead of the midterms. A July study from Pew Research showed the economy was the top-of-mind issue for voters, with 29% saying they wanted to hear plans to address price increases from Congressional candidates. A further 15% said affordability and the cost of living, specifically, were the key issues for them. The topic has become a problem for President Donald Trump, who is under pressure to normalize global oil supply chains, which are disrupted due to the U.S.-Iran…