Tags: treasury | malpass | debt | deficit

Treasury's Malpass: Rising US Debt, Deficit 'Troubling'

Treasury's Malpass: Rising US Debt, Deficit 'Troubling'
(Eduardo Huelin/Dreamstime)

Thursday, 22 February 2018 01:36 PM EST

A senior U.S. Treasury official said he wants to see a multiyear effort to narrow the federal budget deficit, as he warned the nation’s mounting debt is "troubling."

"I am troubled by the deficit; and troubled by the national debt, and I think we need a three-year program to deal with it," David Malpass, the Treasury’s undersecretary for international affairs, said during a recent interview on Fox Business Network. "It’s a very challenging environment."

Malpass said President Donald Trump’s administration doesn’t anticipate another government shutdown next month when the current short-term spending measure expires. He said there are government programs that "simply aren’t needed" and cited a "challenging" budget process on Capitol Hill.

He was speaking ahead of the release of a 700-page report that he said would focus on growing the U.S. economy, though he declined to "get ahead of the president" by laying out its specifics.

"What we will see, I think, is spending that sprawls too widely," he said.

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Economy
A senior U.S. Treasury official said he wants to see a multiyear effort to narrow the federal budget deficit, as he warned the nation’s mounting debt is "troubling."
treasury, malpass, debt, deficit
162
2018-36-22
Thursday, 22 February 2018 01:36 PM
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