Trillion-dollar deficits will hit sooner than expected
Source: CNN-Money
by Jeanne Sahadi @CNNMoney
February 7, 2018: 12:05 PM ET
Trillion-dollar-plus deficits were the hallmark of the financial and economic crisis a decade ago.
Now they'll be making a comeback -- this time during a very healthy economy -- and years sooner than expected.
It was only eight months ago that the Congressional Budget Office projected that deficits would again cross the $1 trillion threshold in 2022.
Now the Committee for a Responsible Federal Budget estimates that will happen next year.
In the meantime, the Treasury Borrowing Advisory Committee expects the federal government will need to borrow $955 billion in fiscal year 2018, which ends on September 30. That's nearly twice what it borrowed the year before.
Read more: http://money.cnn.com/2018/02/07/news/economy/rising-deficits/index.html?adkey=bn
SoCalMusicLover
(3,194 posts)All the stimulation provided by those Corporate tax cuts, and Estate Tax cuts, will help ease the pain.
LOL!!
SWBTATTReg
(22,174 posts)these supposed savings are going to disappear w/ the reappearance of inflation. Remember back in the '70s and '80s, the ugly specter of inflation? Interest rates are going to go up, as demand for money goes up, and w/ inflation, interest costs will go up, across the entire board. Stock Markets will see this and of course react.
UpInArms
(51,285 posts)🤦🏽?♀️
Freethinker65
(10,064 posts)bronxiteforever
(9,287 posts)tanyev
(42,632 posts)Egnever
(21,506 posts)This Is The Real Reason The GOP Doesn't Want To Do A Budget This Year
So why isn't the GOP going to do a budget? Because the vote on the 2019 budget the last one Congress will consider before the 2018 midterm elections will reveal that all the Republican promises on the deficit and debt, including its blind belief on dynamic scoring, were completely bogus.
https://www.forbes.com/sites/civicnation/2018/01/24/seven-mayors-championing-free-community-college/#3a8d75c4a02a