Federal Reserve Chairman Janet Yellen, referencing the Congressional Budget Office's long-term budget projections, told the Joint Economic Committee of Congress today that under current policies the federal government’s deficits “will rise to unsustainable levels.”
(Worthy News) - President Trump, like his predecessors, has done virtually nothing to stop America’s runaway debt train.
Borrowing, spending and budget deficits have soared during Mr. Trump’s first two years with a Republican-led Congress. The red ink for the current fiscal year is projected to reach nearly $1 trillion, up from a deficit of $833 billion in fiscal 2018.
The smallest federal budget deficit in the past decade was $458 billion, in 2015. Even that relatively good year came on the heels of four consecutive trillion-dollar-plus deficits under President Barack Obama. [ Source: Washington Times (Read More...) ]
Copyright 1999-2019 Worthy News. All rights reserved.
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.