Primary Country (Mandatory)

United States

Other Country (Optional)

Set News Language for United States

Primary Language (Mandatory)
English
Other Language[s] (Optional)
No other language available

Set News Language for World

Primary Language (Mandatory)
English
Other Language(s) (Optional)

Set News Source for United States

Primary Source (Mandatory)
CNN
Other Source[s] (Optional)

Set News Source for World

Primary Source (Mandatory)
AajTak
Other Source(s) (Optional)
  • Countries
    • India
    • United States
    • Qatar
    • Germany
    • China
    • Canada
    • World
  • Categories
    • National
    • International
    • Business
    • Entertainment
    • Sports
    • Special
    • All Categories
  • Available Languages for United States
    • English
  • All Languages
    • English
    • Hindi
    • Arabic
    • German
    • Chinese
    • French
  • Sources
    • India
      • AajTak
      • NDTV India
      • The Hindu
      • India Today
      • Zee News
      • NDTV
      • BBC
      • The Wire
      • News18
      • News 24
      • The Quint
      • ABP News
      • Zee News
      • News 24
    • United States
      • CNN
      • Fox News
      • Al Jazeera
      • CBSN
      • NY Post
      • Voice of America
      • The New York Times
      • HuffPost
      • ABC News
      • Newsy
    • Qatar
      • Al Jazeera
      • Al Arab
      • The Peninsula
      • Gulf Times
      • Al Sharq
      • Qatar Tribune
      • Al Raya
      • Lusail
    • Germany
      • DW
      • ZDF
      • ProSieben
      • RTL
      • n-tv
      • Die Welt
      • Süddeutsche Zeitung
      • Frankfurter Rundschau
    • China
      • China Daily
      • BBC
      • The New York Times
      • Voice of America
      • Beijing Daily
      • The Epoch Times
      • Ta Kung Pao
      • Xinmin Evening News
    • Canada
      • CBC
      • Radio-Canada
      • CTV
      • TVA Nouvelles
      • Le Journal de Montréal
      • Global News
      • BNN Bloomberg
      • Métro
MoreBack to News Headlines
How the Debt Could Hamstring Trump’s Agenda

How the Debt Could Hamstring Trump’s Agenda

The New York Times
Wednesday, January 22, 2025 5:37 PM GMT

Republicans are hunting for ways to pay for President Trump’s expensive plans while avoiding a freakout on Wall Street.

When House Republicans gathered behind closed doors on Capitol Hill last week to hash out their plans for cutting taxes, Representative David Schweikert, an Arizona Republican, sounded a note of caution.

The United States’ fiscal problems were at risk of spiraling out of control, Mr. Schweikert told his colleagues. He warned that investors on Wall Street were starting to think twice about lending to the United States, a potential loss of confidence in Washington’s tax and spending plans that could ripple across the economy.

“This ain’t a game,” Mr. Schweikert, a member of the House Ways and Means Committee, said in an interview. “This needs to temper both how we approach policy and how we communicate that policy.”

Mr. Schweikert’s view, echoed by other lawmakers at the meeting, was an early sign of the stark economic and political challenge that America’s $36 trillion debt will pose for President Trump.

Concerns about elevated interest rates and a growing deficit have bogged down Republican efforts to quickly pass Mr. Trump’s agenda into law. The impending return of the debt limit risks a default that could upend global financial markets, and investors and rating agencies are on edge about the fiscal outlook.

“Categorically, absolutely the market is more focused and concerned about U.S. fiscal and the implications for issuance and debt levels than was the case a decade ago,” said Nathan Sheets, the chief economist at Citigroup and a former Treasury official.

Read full story on The New York Times
Share this story on:-
Run 3 Space | Play Space Running GamePlay Run 3, the ultimate space tunnel running game with 300+ challenging levels!Adv.
Traffic Jam 3D | Online Racing GameTraffic Jam 3D is a game where you’ll be driving through heavy traffic.Adv.
Duck Hunt | Play Old Classic GamePlay the classic 1984 light gun shooter game Duck Hunt on your browser.Adv.
More Related News
Parking Slot | Free Parking GamePlay Parking Slot, the best online 3D car driving and parking game.Adv.
Slope Ball Run - Play OnlineSlope Game takes you on an exciting journey of a ball on special paths.Adv.
© 2008 - 2025 Webjosh  |  News Archive  |  Privacy Policy  |  Contact Us