Less than two months after acting to bail out the nation’s money markets because of a liquidity crisis that arose from a surge in U.S. government borrowing to fund its spending, Federal Reserve Chair Jerome Powell testified before the U.S. Congress that the federal government’s current course of debt-fueled spending is on an “unsustainable...
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The Congressional Budget Office has published its Long-Term Budget Outlook for 2019, projecting the U.S. government’s fiscal health will become much worse over the next 30 years in its baseline scenario.