Tax Cuts From The Bush And Trump Eras Have Cost The Government $10 Trillion It Now Owes
Portfolio Pulse from Natan Ponieman
The U.S. government's debt has reached a record $33 trillion, with tax cuts from the Bush and Trump administrations costing an additional $10 trillion in revenue by the end of this year, according to the Center for American Progress. The current debt crisis could potentially affect the stock market and several industries. The government's debt is now over 12 times the market cap of Apple, the world's most valuable public company. If borrowing continues at the same pace, the debt could reach $50 trillion by the end of the decade.

September 25, 2023 | 8:58 pm
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The U.S. government's debt is now over 12 times the market cap of Apple, indicating the scale of the debt crisis. This could potentially affect investor sentiment towards Apple and other large-cap stocks.
While Apple is mentioned in the article, it is used as a comparison to illustrate the scale of the U.S. government's debt. The debt crisis could potentially affect investor sentiment towards large-cap stocks like Apple, but the direct impact on Apple's stock price is uncertain.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50