US budget office says federal deficit will reach new highs in the next decade

US budget office says federal deficit will reach new highs in the next decade

An update from the US Congressional Budget Office (CBO) on Wednesday predicted average national deficits of $1.2 trillion every year through 2029, due in large part to recent budget and border security bills. The CBO report noted that, federal debt held by the public is projected to almost equal the US’ GDP due to its free-spending policies.

Tom A
Tom A
Watheverable GRAMPS
Watheverable GRAMPS 5 months

The Democrat candidates have plans for that, increasing it that is! Trillions to stop climate change™️ including farting cows, free money©️ for votes (yangang 2019) shitty public education and Healthcare for illegal aliens!

Reid McPherson
Reid McPherson 5 months

sounds accurate, whenever the two parties agree on something, it's always against working people.

michael zubas
michael zubas 5 months

cutting taxes will do that.

Julian
Julian 5 months

Thanks for kicking the can down the road to my generation.

Will Miller
Will Miller 5 months

this has to stop...they have to start functioning within a real budget. if they can't right now, then they need to start canceling programs.

Elder Millennial
Elder Millennial 5 months

I don’t trust this projection at all. While I do think that a recession of some degree is inevitable from Bush and Obama’s mismanagement, that it cannot be stopped or reversed by Trump, I DO think he has postponed it for years and has likely reduced the impact from becoming a plausible new Great Depression. This horse manure is propaganda designed to obfuscate that fact and MAYBE even an attempt to instigate a panic into a premature collapse by deliberately rocking the ship of state to tip it over, then blame it on HIM. Sabotaging the economy may be the ONLY way the Dems can win at this point. The worst thing that could happen to the Dems would be for this to fail now, and to also continue fail to through 2024. If this goes accordingly, I think the Republicans should let the Dems win the presidency that year and focus ENTIRELY on winning the house and senate. The collapse will likely happen a year in or so, then get blamed on whoever that poor schmuck will be, deflected from the Congress. Rendered a lame duck early, it will be easy for someone similar to Trump to then take back the White House in 2028, maybe a son or daughter, unless someone even better shows up. The Dems may collapse entirely after that.

Seekster
Seekster 5 months

We can't keep spending without a plan to control our debt. One day the bill will come due.

Mitchell
Mitchell 5 months

Does the debt really matter?

TruthLover2020
TruthLover2020 5 months

lol @ "DemonRats" tier stupidity on this platform. If you bitch about Democrats spending and think Republicans truly give a damn past getting elected, you're the biggest fool out of all of this. You mad because even Nancy Pelosi is more shrewd than you?

Crimson Jester
Crimson Jester 5 months

This is what will prevent Trump from reelection, if anything.

.Tet.
.Tet. 5 months

Calling it the Trump-Pelosi deficit is misleading with no context. Here: https://www.thebalance.com/deficit-by-president-what-budget-deficits-hide-3306151 Who will they blame? Congress? His predecessor, Obama? Pelosi herself? Because Trump has no say in the annual deficit. They put his name in it because he happens to be the President; or orange-man-bad. And probably put Pelosi's name there because she's acting against the far left's mascot, AOC.

A Forgiven Sage
A Forgiven Sage 5 months

You can cut all the taxes you want; if spending is out of control, all you do is increase the likelihood of a recession because the federal government is spending more money than it brings in through taxes. Trump and the Republicans are just as fiscally irresponsible as the Democrats. The only difference is that the Republicans pretend to be Reaganites while the Dems have shown their true (red) colors.

Brennan Ritchie
Brennan Ritchie 5 months

#TrumpRecession

Darth Quaint
Darth Quaint 5 months

I think this excerpt from the Fox link sums things up the best. The heads are too polarized and unwilling to find the best deal, so we had to make one all would at least agree to. [Sen. Rand Paul, R-Ky., was a vocal opponent of the budget bill, citing the effect it would have on the nation's fiscal health. He excoriated his colleagues for supporting a deal he claimed “marks the death of the Tea Party movement in America.” Paul said “both parties have deserted” the U.S. and “show no care and no understanding and no sympathy for the burden of debt they are leaving the taxpayers, the young, the next generation and the future of our country." Paul proposed an amendment to the bill, which would have imposed spending caps, but it failed after a 70-23 vote. Sen. Roger Wicker, R-Miss., however, claimed it was the best deal possible. “I want to know what better deal anybody could have crafted that got Nancy Pelosi’s sign-off in the House and Mitch McConnell’s sign-off in the Senate, along with McCarthy and Schumer,” Wicker said.]

Kevin McAlpin
Kevin McAlpin 5 months

yeah, tax cuts mean less revenue. we've achieved 5% of the growth required to make up for the tax scam.

Randy Whaley
Randy Whaley 5 months

The "Liberal Socialist" propaganda neglected to mention that the deficit was estimated to grow to over 2.6 trillion by 2030 under the Obama administration.

J. C.
J. C. 5 months

yet bonds are at record lows. could be much higher and not move the needle right now. people want USD debt

Stephen
Stephen 5 months

Who'd have thunk? You spend trillions on defective ideas and wars for a century and this should be considered the logical next step. SHEESH.

Stephen
Stephen 5 months

people if you want change you have to change the actors. You can't keep electing people like Moscow bitch etc. and expect a different result. That's the definition of insanity.

Rusty Shackleford
Rusty Shackleford 5 months

See; I’ve never really cared nor pretended to care about stuff like this. It is too much to have an effect on me, or for me to have an effect on. BUT - Are there any countries that aren’t in debt? I’m fairly sure every single country on earth is in debt, so who is the rich clunt with $eyes that laughs himself to sleep every night? Get rid of him/they and start again.

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