In truth, the surprise trillion-dollar deficit for the first 11 months of fiscal 2019 really isn’t much of a surprise.
What would it take to balance the U.S. government’s budget over the next 10 years?
The government’s budget deficit through the first 10 months of its 2019 fiscal year now exceeds the full year deficit of $777 billion recorded in 2018.
For Americans troubled by the ongoing lack of fiscal discipline on Capitol Hill, nine other words are perhaps very scary: “We have actually now agreed on the spending numbers”.
The Tax Cut and Jobs Act of 2017 appears to be delivering an unexpected benefit to state governments: It is lowering their cost of their borrowing.
If things go as analysts at the Bipartisan Policy Center expect, the U.S. government will face a heightened risk of defaulting on its $22 trillion debt in early September.
The one thing politicians and bureaucrats can absolutely do well is to spend exactly as much money as they say they will.
Government regulation contributes to stifling effective competition in the free market which leads to price gouging and excessive inflation.
Where the primary cause of the U.S. government’s growing deficits and national debt is concerned, it’s the spending, stupid!
Net interest on the national debt has become one of the fastest growing segments of federal spending.