In truth, the surprise trillion-dollar deficit for the first 11 months of fiscal 2019 really isn’t much of a surprise.
The Treasury Department has recently revised and updated its estimates of who the U.S. government has borrowed from for its 2018 fiscal year.
What would it take to balance the U.S. government’s budget over the next 10 years?
The commercial war between the world’s superpower and the Chinese dictatorship has affected the U.S. economy, which has dropped from an annual rate of growth of 4 percent to 2 percent.
The sale of U.S. Treasuries in a relatively short period of time appears set to cause problems in global credit markets.
As in 2009 and 2010, it is unlikely that we will see greater prosperity in the future as a result of the 2019 budget deal.
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.
The U.S. national debt has nearly reached $22 trillion, rising by nearly $500 billion since the U.S. government’s 2018 fiscal year ended on September 30, 2018.
Despite collecting record levels of revenues from taxes, somehow the Gov. is managing to increase its spending even more.