Congressional Republicans blamed the US national debt reaching $40 trillion on socialist policies, while economists pointed to tax cuts and military spending.
Congressional Republicans blamed "unaffordable socialist policies" and out-of-control spending for the US national debt reaching $40 trillion, according to statements following the milestone.
Economists and policy analysts offered a different assessment, attributing the debt explosion primarily to Republican policy decisions. They cited massive tax cuts for the rich and wars of choice in the Middle East as key drivers.
The Federal Reserve issued a consent prohibition order against a former Banco Popular de Puerto Rico employee over the misappropriation of customer funds.
Norman A. Bailey, who served as a strategist in the Reagan administration's Cold War efforts, died in North Carolina at 95.
Researchers are studying how wealthy residents near a former nuclear research facility in California respond when proximity to environmental contamination cannot be avoided regardless of income.