Rational Nation USA

The Trump administration is headed for a gigantic debt headache Debt levels are piling up in the government, pushing borrowing costs higher. The Treasury Department announced Wednesday that it will be increasing the size of its auctions to help pay for burgeoning budget deficits. While the Trump administration has said that economic growth would make up for shortfalls from tax cuts and spending increases, the early results do not bear that out. Swelling government debt levels are shaping up to be the biggest economic challenge for President Donald Trump, a problem that could spill into the stock market. This week's Treasury Department announcement that it would have to increase the amount of bond auctions over the next three months was a low-key reminder that the government IOU is only getting bigger and will start influencing interest rates sooner rather than later. The total U.S. debt just passed the $21.3 trillion mark, of which $15.6 trillion is owed by the public. Th...