New York Times report warns of rising debt, says it is a 'political problem' for Biden
Fox News
An article Tuesday in The New York Times reported on the "political problem" the record $31 trillion national debt represents for President Joe Biden.
In the piece, Rappeport and Tankersley warned that rising interest rates will make it more expensive for the federal government to borrow money, a departure from the comparatively cheap money it has been able to obtain in recent years due to low interest rates and inflation. Joe Silverstein is a production assistant for Fox News Digital.
"America’s gross national debt exceeded $31 trillion for the first time on Tuesday, a grim financial milestone that arrived just as the nation’s long-term fiscal picture has darkened amid rising interest rates," The Times reported.
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