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US Democrats face severe fiscal reality after election sweep

The Guardian · 23h ago · 1 views
US Democrats face severe fiscal reality after election sweep

Democratic lawmakers face a massive federal debt and soaring budget deficits as they push to fund ambitious social welfare programs.

Following recent election gains, Democratic lawmakers have advanced proposals to support children, parents, and expand healthcare programs including Medicare for All and Obamacare subsidies. However, these ambitious goals collide directly with a federal deficit running at roughly 6.2% of GDP and a national debt that has reached $40tn, exceeding 120% of GDP. Experts note that reversing previous budget cuts to Medicaid, food stamps, and health insurance will cost trillions over the coming decade. At the same time, the social security trust fund is projected to run out of money in under six years, threatening automatic benefit cuts unless lawmakers find substantial new funding.
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