Federal Deficits to Grow More Than Expected Over Next Decade, CBO Says

[abu afak]

Nothing like having a 100% GOP Govt pass a Tax cut for the rich..
While Chapter 11 Trump ponders/the Kills another for the Middle Class.
Then raise the debt ceiling with no qualms.
By Kate Davidson
Wall St Journal, Aug. 21, 2019

Federal Deficits to Grow More Than Expected Over Next Decade, CBO Says
CBO boosts 10-year forecasts for budget deficits by $809 billion, citing two-year budget deal
Federal Deficits to Grow More Than Expected Over Next Decade, CBO Says

Federal deficits are projected to grow much more than expected over the next decade thanks to the two-year budget agreement lawmakers and the White House struck last month, the Congressional Budget Office said Wednesday.

The agency increased its forecasts for deficits over the next decade by $809 billion, to $12.2 trillion, in updated budget projections released Wednesday. The increase primarily reflects higher federal spending under the new budget deal, partly offset by lower projected interest rates.

CBO said the new agreement, which increased spending roughly $320 billion over the next two years above previously enacted spending caps, will add roughly $1.7 trillion to deficits between 2020 and 2029. That reflects CBO’s assumption that federal spending will continue to grow at the rate of inflation after 2021.
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[abu afak]

Wow, GOP whiffs on deficit.. and responding to it.

 

[Natural Citizen]

Those who are informed in such matters expect it and have been saying so for some time.

Those who do not expect it should otherwise be deemed uninformed and dismissed from any discussion pertaining to it.

 

[pyetro]

Nothing like having a 100% GOP Govt pass a Tax cut for the rich..
While Chapter 11 Trump ponders/the Kills another for the Middle Class.
Then raise the debt ceiling with no qualms.
By Kate Davidson
Wall St Journal, Aug. 21, 2019

Federal Deficits to Grow More Than Expected Over Next Decade, CBO Says
CBO boosts 10-year forecasts for budget deficits by $809 billion, citing two-year budget deal
Federal Deficits to Grow More Than Expected Over Next Decade, CBO Says

Federal deficits are projected to grow much more than expected over the next decade thanks to the two-year budget agreement lawmakers and the White House struck last month, the Congressional Budget Office said Wednesday.

The agency increased its forecasts for deficits over the next decade by $809 billion, to $12.2 trillion, in updated budget projections released Wednesday. The increase primarily reflects higher federal spending under the new budget deal, partly offset by lower projected interest rates.

CBO said the new agreement, which increased spending roughly $320 billion over the next two years above previously enacted spending caps, will add roughly $1.7 trillion to deficits between 2020 and 2029. That reflects CBO’s assumption that federal spending will continue to grow at the rate of inflation after 2021.
[.....]
`

Republicans used to be fiscal Hawks.

 

[lennypartiv]

Certain things have to be done. Defense and military spending should be increased. The border wall must be built to make it impossible for Mexicans to get into America.