In April, the Congressional Budget Office released its updated budget projections, and the outlook is grim.
The annual federal deficit is projected to rise to over $1 trillion by 2020 and to top $1.5 trillion by 2028. In the next decade, debt is projected to skyrocket to over 96 percent of the economy.
This is an abysmal and unsustainable budget course for the country to be on.
Thankfully, there is a solution that Congress can implement this year and sharply reverse the projected course.
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And as my dear departed father used to say..." and if a bullfrog had wings he wouldn't bump his but." In other words it ain't gonna to happen. The government will barrow and print until hell freezes over.
ReplyDeleteA couple of other troublesome issues here would be what is their projected rate of growth? Usually they pick some wild unattainable number like 6 or 7% growth for 10 years.
Another issue is the Federal Reserve which allows the Federal government to continue it's theft via inflation and debt manipulation.
How long will the 'party' go on? Anyone who can tell us that could also make us very rich.
Y'all have a nice day.
Anyone who can tell us that could also make us very rich.
DeleteIndeed.