Post by No. 1 son on Jan 29, 2019 10:44:23 GMT -5
I'm glad the CBO report 'splained it.
From Boston globe "The American economy is projected to grow by 2.3 percent in 2019, the Congressional Budget Office said in a report on Monday, as the temporary boost from the Republican tax law and other new federal spending begins to fade."
also "Meanwhile, the US Treasury Department is set to maintain elevated sales of long-term debt to finance the government’s widening budget deficit, with new issuance projected to top $1 trillion for a second-straight year.
"
Clearly, the amount of growth you have is limited only by how much debt you are able to incur. Cool
From Arkansas online "WASHINGTON -- A government report predicts the U.S. budget deficit will hit $897 billion this year, up $118 billion from last year's $779 billion deficit.
However, the budget deficit will not hit $1 trillion until fiscal 2022, two years later than previously projected, thanks in large part to planned budget cuts, according to the Congressional Budget Office, a nonpartisan arm of Congress."
I guess this is a resounding success.
And, "Meanwhile, unemployment is expected to fall to 3.5 percent in the second half of this year, its lowest point since the 1960s." Sounds good, except federal workers can't seem to go without a paycheck for 2 weeks.
Also "Because of persistently large deficits, federal debt held by the public is projected to grow steadily, reaching 93 percent of GDP in 2029 -- its highest level since just after World War II," and "In addition, there is the expense of maintaining a debt. Over the next decade, the U.S. government will spend about $7 trillion just to service the nation's debt, according to the budget office."
But I think this summarizes the whole thing, even though it is the opinion of the writer, I think it is dead on.
-However, neither Trump nor Democrats controlling the House are expected to make curbing the deficit a priority.-
From Boston globe "The American economy is projected to grow by 2.3 percent in 2019, the Congressional Budget Office said in a report on Monday, as the temporary boost from the Republican tax law and other new federal spending begins to fade."
also "Meanwhile, the US Treasury Department is set to maintain elevated sales of long-term debt to finance the government’s widening budget deficit, with new issuance projected to top $1 trillion for a second-straight year.
"
Clearly, the amount of growth you have is limited only by how much debt you are able to incur. Cool
From Arkansas online "WASHINGTON -- A government report predicts the U.S. budget deficit will hit $897 billion this year, up $118 billion from last year's $779 billion deficit.
However, the budget deficit will not hit $1 trillion until fiscal 2022, two years later than previously projected, thanks in large part to planned budget cuts, according to the Congressional Budget Office, a nonpartisan arm of Congress."
I guess this is a resounding success.
And, "Meanwhile, unemployment is expected to fall to 3.5 percent in the second half of this year, its lowest point since the 1960s." Sounds good, except federal workers can't seem to go without a paycheck for 2 weeks.
Also "Because of persistently large deficits, federal debt held by the public is projected to grow steadily, reaching 93 percent of GDP in 2029 -- its highest level since just after World War II," and "In addition, there is the expense of maintaining a debt. Over the next decade, the U.S. government will spend about $7 trillion just to service the nation's debt, according to the budget office."
But I think this summarizes the whole thing, even though it is the opinion of the writer, I think it is dead on.
-However, neither Trump nor Democrats controlling the House are expected to make curbing the deficit a priority.-
