The Congressional Budget Office just released its most recent 10-year projections for federal spending and revenues.
Due to its spending addiction, the government will expend $4.6 trillion.
That's not enough to cover the $7.5 trillion the federal government will spend then, hence a projected budget deficit of $1.74 trillion.
Congress will evade rules meant to limit spending, and - as always - it will indulge in a bipartisan spending binge while refusing to let popular tax cuts expire.
There will be more spending and less revenue than projected.
I would not be surprised if the Democrats even manage to extract some spending increases for low-income Americans from the Republicans in exchange for extending these tax provisions.
Given an opportunity to adopt another bipartisan spending package that adds hundreds of billions of dollars to the deficits, politicians on both sides of the aisle will shamelessly expose their spending addiction.
https://spectator.org/uncle-sam-doubles-down-on-his-spending-addiction/
Due to its spending addiction, the government will expend $4.6 trillion.
That's not enough to cover the $7.5 trillion the federal government will spend then, hence a projected budget deficit of $1.74 trillion.
Congress will evade rules meant to limit spending, and - as always - it will indulge in a bipartisan spending binge while refusing to let popular tax cuts expire.
There will be more spending and less revenue than projected.
I would not be surprised if the Democrats even manage to extract some spending increases for low-income Americans from the Republicans in exchange for extending these tax provisions.
Given an opportunity to adopt another bipartisan spending package that adds hundreds of billions of dollars to the deficits, politicians on both sides of the aisle will shamelessly expose their spending addiction.
https://spectator.org/uncle-sam-doubles-down-on-his-spending-addiction/
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