The U.S. national debt has reached $36T. Will the DOGE help fix it?

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The U.S. national debt has reached $36T. Will the DOGE help fix it?

seekingalpha2024-11-25

Greggory DiSalvo The United States is closing out the year with a lot of red ink as the national debt surpassed $36T for the first time. Gloomy fiscal milestones are now happening every several months...

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Gloomy fiscal milestones are now happening every several months...</p>\n\n<a href=\"https://seekingalpha.com/news/4329183-the-us-national-debt-has-reached-36t-will-the-doge-help-fix-it\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The U.S. national debt has reached $36T. 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Will the DOGE help fix it?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-25 20:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4329183-the-us-national-debt-has-reached-36t-will-the-doge-help-fix-it><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Greggory DiSalvo The United States is closing out the year with a lot of red ink as the national debt surpassed $36T for the first time. Gloomy fiscal milestones are now happening every several months...</p>\n\n<a href=\"https://seekingalpha.com/news/4329183-the-us-national-debt-has-reached-36t-will-the-doge-help-fix-it\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://seekingalpha.com/news/4329183-the-us-national-debt-has-reached-36t-will-the-doge-help-fix-it","article_id":"2486083375","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1692247451/image_1692247451.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486083375","pubTimestamp":1732536890,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Take the poll here and share how it might impact markets in the comments section. More on the national debt  SA Sentiment: Debt is the top economic issue Trump’s pick for Treasury seen as welcome ‘safe bet’: Societe Generale National debt: Powell says the U.S. is on an unsustainable fiscal path The National Debt: What It Means For Investors","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"美国国债已达36T美元。总督会帮忙修理吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TBF":0.9,"TBT":0.9,"TLT":0.9,"TMV":0.9,"TTT":0.9},"content_text":"Greggory DiSalvo The United States is closing out the year with a lot of red ink as the national debt surpassed $36T for the first time. Gloomy fiscal milestones are now happening every several months, according to the Treasury Department, with the deficit hitting $35T in late July and $34T earlier this year. It's also helping shift the conversation from talk into action, with the next administration making it a priority as it gears up to take the helm at the White House. The DOGE plan: The hardest area to tackle has been popular entitlement programs like Medicare, Medicaid and Social Security, which have been major contributors to the deficit. With no easy solutions there, President-elect Trump has tasked Elon Musk and Vivek Ramaswamy to head up the newly formed Department of Government Efficiency, or DOGE, to \"cut the federal government down to size.\" The new mission will also focus on the \"sheer magnitude of waste, fraud and abuse\" despite the \"onslaught from entrenched interests in Washington.\" \"DOGE will help end federal overspending by taking aim at the $500B+ in annual federal expenditures that are unauthorized by Congress or being used in ways that Congress never intended, from $535M a year to the Corporation for Public Broadcasting and $1.5B for grants to international organizations to nearly $300M to progressive groups like Planned Parenthood,\" Musk and Ramaswamy wrote in a WSJ op-ed. \"Many federal contracts have gone unexamined for years. The Pentagon recently failed its seventh consecutive audit, suggesting that the agency’s leadership has little idea how its annual budget of more than $800B is spent.\" Up next: While interest rates are coming down due to the Fed's new easing cycle, cutting spending is never easy, with Trump adding $8.4T to the national debt (including $4.8T in COVID relief) during his first term in office. Even if DOGE gets on the case, expect legal battles centering around executive overreach, statutory protections and regulatory reversals. Other factors include how the 119th Republican-controlled Congress will handle the reinstatement of the debt ceiling and the expiration of the Tax Cuts and Jobs Act, as well as plans from other ranking officials, such as nominee Russell Vought as White House budget office director and Scott Bessent as head of the U.S. Treasury. Wall Street Breakfast survey: What is the most realistic way to address the U.S. budget deficit? Take the poll here and share how it might impact markets in the comments section. More on the national debt  SA Sentiment: Debt is the top economic issue Trump’s pick for Treasury seen as welcome ‘safe bet’: Societe Generale National debt: Powell says the U.S. is on an unsustainable fiscal path The National Debt: What It Means For Investors","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}