Federal deficit expected to swell by $800 billion over next decade, new CBO report projects

Dec 2015
12,380
7,601
In Your Heart!
#1
Federal deficit expected to swell by $800 billion over next decade, new CBO report projects
CBO also estimated that the deficit for 2019 is now $63 billion more than it was when it issued its projection this past May.
By Dartunorro Clark


"The federal deficit is expected to balloon $809 billion more than previously thought due to legislative packages passed by Congress and signed into law by President Donald Trump, the nonpartisan Congressional Budget Office said in a report released Wednesday."
"The agency increased its projections for deficits over the next decade — from $11.4 trillion to $12.2 trillion — in this updated version of its May budget forecast. The agency said the increase is largely driven by a two-year budget deal Trump signed into law last month that increased government spending and suspended the debt ceiling, which is the statutory limit on how much the government can borrow. The 2020 fiscal year begins Oct. 1."
"The Treasury Department is expected to borrow more than $1 trillion for the second straight year, according to borrowing estimates released by the department earlier this year. "









################################################################################
Yet Trump continues to say that the economy is doing great. Yeah right. LOL. Only it isn't showing any signs of doing that and is actually heading in the opposite direction spiraling downward. The deficit is expected to reach 1 TRILLION in 2020, election year.
 
Likes: HayJenn
Apr 2015
15,303
2,846
Katmandu
#2
1566439162881.png


Yet Trump continues to say that the economy is doing great. Yeah right. LOL. Only it isn't showing any signs of doing that and is actually heading in the opposite direction spiraling downward. The deficit is expected to reach 1 TRILLION in 2020, election year.
The Treasury Department borrowed $1.4 trillion in FY 2016, so yeah, that is an improvement over Obama.
 

Attachments

Dec 2015
12,380
7,601
In Your Heart!
#3
The Treasury Department borrowed $1.4 trillion in FY 2016, so yeah, that is an improvement over Obama.
The point being that Trump always likes to tout HIS work on bringing DOWN the deficit no matter what size it may have been before. But his tax cuts, China, etc. are only ADDING to it.
 

HayJenn

Moderator
Jul 2014
70,035
60,035
CA
#4
The Treasury Department borrowed $1.4 trillion in FY 2016, so yeah, that is an improvement over Obama.
Guess you missed that part about the deficit rising 27% from LAST YEAR alone.

And good luck with trying to cut SS and Medicare.