The most recent debt ceiling debacle is the latest chapter in the nation’s decades-long political contest over federal spending and taxation. In the view of many conservatives, the ballooning federal debt is a crisis of runaway government spending. But the federal debt is more properly viewed as a crisis of taxation. The debt represents the failure of government to raise the revenue it needs, especially from the wealthiest Americans, to advance our most vital national priorities: a vibrant and inclusive economy, a safe and clean environment, and the equality that is foundational to a functional, multiracial democracy.
This article first appeared in insidephilanthropy.com on June 7th, 2023.
Related Updates
Feb 04 2025
Press Releases
Solving Global Hunger: New Report Highlights School Meal Programs as Drivers of Change
More Feb 04 2025
Grantee Impact Story
A Big Bets Fellow Tackles Climate ― and Seaweed
More Jan 28 2025
Press Releases
Rockefeller Foundation Invests US$15.9 Million to Expand Electricity Access at Mission 300 Africa Energy Summit
More