E202 - US Debt To Hit 175% of GDP by 2056 — Expert Says Taxes Won't Come Close to Fixing It | The States

Congress debates budget reform, taxes can't make up U.S. deficit according to the Tax Foundation, New Orleans' prosecutor drops charges against Louisiana AG, and Nashville places moratorium on data centers.

The House Oversight and Government Reform Committee examined proposals to prevent government shutdowns, including a bipartisan Lankford-Hassan bill that would require Congress to stay in session seven days a week focused solely on appropriations until funding is resolved.  Tax Foundation Chief Economist William McBride said the U.S. is spending more than $1 trillion annually on debt interest with debt-to-GDP near 100% and projected to reach 175% by 2056, driven p...