The United States relies on taxes and debt for much of its spending — but what would spending cuts look like? Just last year, the U.S. took on over a trillion dollars in debt.
WSJ explains how much the Treasury relies on debt, where it goes and what happens when the Treasury hits the debt ceiling.
0:00 The U.S. took on $1.4 trillion of debt last year
1:33 Where did the American government spend the money?
2:40 What happens when the U.S. debt ceiling is hit?
3:51 How to reduce the national deficit
Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day’s biggest stories into bite-size pieces to help you make sense of the news.
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