Citing the CBO’s forecast of the Federal Deficit (and at these reates it deserves to be capitalized) , WaPo reports that the Deficit will increase by $80o Billion MORE than expected over the next 10 years.
The United States’ annual deficit will come close to hitting $1 trillion in 2019, an unusually high number during a period of economic growth, the CBO added. Driving that number is spending as well a large tax cut in corporate and individual income taxes passed by Republicans in 2017.
“We all know we are already on a troubling fiscal path, but today’s CBO report shows us that our leaders [and by leaders he has to be talking about the Orange one’s White House and Moscow Mitch’s Republican Congress that passed the tax cuts that have led to the increased deficit numbers] are making things considerably worse,” said Michael A. Peterson, chief executive of the Peter G. Peterson Foundation, which advocates for lower deficits.
It figures that somehow the government under the Orange Clown’s leadership (where can I get one of those baby blimps by the way?) has gotten into a deficit fix that precludes SFB finally doing something that would benefit working folks – reducing or eliminating the payroll tax.