The former U.S. Comptroller General said Congress’ failure to address the federal debt burden was “irresponsible.”
David Walker, former Comptroller General of the United States and a member of the Main Street Economics Advisory Board, said recent economic data should prompt lawmakers to take action before the debt problem gets worse.
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Federal data released Friday showed that inflation remains elevated. The figures came out on the heels of other data showing the U.S. Gross Domestic Product underperformed in the first quarter of this year.
Both the inflation and GDP data points raised concerns among economists and renewed criticism of President Joe Biden among Republicans.
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The U.S. trade deficit continued to grow in December as the import-export gap widened to record highs in 2021, the Census Bureau reported Tuesday.
The trade deficit grew by 1.8% in December 2021 to $80.7 billion, the Census Bureau announced Tuesday, $1.4 billion above the revised figure from November 2021.
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