Trump's economic plans face significant hurdles due to the staggering federal debt of $36 trillion and rising servicing costs that crowd out essential government spending.
With debt service costs now consuming about 1 in 5 federal dollars, the government finds itself constricted, inhibiting investments in crucial sectors like infrastructure and education.
The spike in inflation has driven borrowing costs higher, presenting a political challenge for Trump as inflated costs burden many Americans, complicating efforts in the housing market.
Akabas emphasized that the federal debt's burden is not just a fiscal issue but a social one, impacting households through increasing costs of living and mortgage rates.
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