The CBO came out with its deficit projection for the fiscal year.
It’s massive.
And for the first time since World War II, the national debt held by the public will exceed 100 percent of GDP.
A lot of people will just blame this on the coronavirus pandemic and move on. But borrowing and spending was a problem long before coronavirus reared its ugly head.
For Further Reading
Smashing Records: June Monthly Budget Deficit Bigger Than All Years Except Five
Trump Administration Runs Obamaesque Budget Deficit Over $1 Trillion in 2019
Smoke and Mirrors: The “Greatest Economy” is Built on Spending and Debt
Michael Maharrey [send him email] is the Communications Director for the Tenth Amendment Center. He is from the original home of the Principles of '98 - Kentucky and currently resides in northern Florida. See his blog archive here and his article archive here.He is the author of the book, Our Last Hope: Rediscovering the Lost Path to Liberty., and Constitution Owner's Manual. You can visit his personal website at MichaelMaharrey.com and like him on Facebook HERE
Latest posts by Mike Maharrey (see all)
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