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


Concordia res parvae crescunt


Small things grow great by concord...

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