February 17, 2021: Donald Trump Balloons the Deficit, of Course

 

2/17/21: One of the great failures of Donald J. Trump relates to his incompetence in handling the growing federal debt. 

Last week, the Congressional Budget Office estimated that the deficit for Fiscal Year 2021 would hit $2.3 trillion, without additional stimulus spending. 

So, we’re going to give the Trumpster a break. Normally, on this blog, we would put all of FY 2021 on his tab since most policies are already set when a new president comes into office. 

So, for example, we counted all deficit spending in FY 2017 to President Obama’s “account.”

 

That means we can now total up Trump’s deficits, and we won’t count any new spending that may occur as Biden policies kick into place. 

FY 2018:  $   779,000,000,000

FY 2019:  $1,004,000,000,000

FY 2020:  $3,140,000,000,000

FY 2021:  $2,300,000,000,000

 

Even worse, the federal deficit is expected to swell to more than $35 trillion in 2031, the largest debt-to-GDP ratio in U.S. history. 

And that’s essentially before Biden blows his nose.