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...) ]
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