See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

To tame the deficit, America needs a national sales tax

Posted on AllSides October 6th, 2023
From The Center
Philip Cheung for The Washington Post

Amid the chaos of another Republican meltdown in Washington, the party’s deficit hawks correctly point to a serious underlying issue: the federal debt. Total debt is now more than $33 trillion, the deficit is over 7 percent of gross domestic product, and this year’s net interest payment on the debt will probably be over $650 billion — which is not far off from defense spending. For almost a generation, policymakers have been able to avoid seriously confronting deficits because interest rates were so low and financing debt was easy. But with interest rates where they are now, the...

Read full story
Some content from this outlet may be limited or behind a paywall.

AllSides Picks

More News about Taxes from the Left, Center and Right

From the Left

From the Center

From the Right