8/22/19: More bad news for Trump and his Tea Party troops. The Congressional Budget Office estimates that the deficit for Fiscal Year 2020 will rise to $1.01 trillion dollars. Part of the problem is that tax revenues have fallen short of estimates in 2018 and 2019 by $430 billion.
The Trump Tax Cuts have not paid for themselves.
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“An unsustainable course, projected to rise even higher after 2029.”
CBO Director Phillip Swagel
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CBO Director Phillip Swagel warns that the United States could well be in trouble in the future.
The nation’s fiscal outlook is
challenging. Federal debt, which is already high by historical standards, is on
an unsustainable course, projected to rise even higher after 2029 because
of the aging of the population, growth in per capita spending on health care,
and rising interest costs.
Good luck millennials, and future generations, whatever you are
called. You are going to inherit a pile of orange poop.
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