It’s a $984 Billions…
Anybody out there have a check book THAT unbalanced?
And Trump and Republicans have hinted at a another possible tax cut?
The government ran a budget deficit of just under $1 trillion in the just-closed fiscal year, the Congressional Budget Office said Monday.
The $984 billion deficit tally for 2019 came in more than $200 billion more than last year’s, despite very low unemployment and continuing economic growth.
Many mainstream economists have long taken the position that deficits and the nation’s $22 trillion national debt are unsustainable. CBO noted that deficits have been growing faster than the size of the economy for four years in a row, ending 2019 at 4.7 percent of gross domestic product.
Others say deficits are manageable and note continued low interest rates despite steadily growing debt.