CBO projects booming deficits

[Yo_Mama_Been_Loggin]

This year's federal budget deficit will rise to $804 billion and is projected to nearly hit $1 trillion in 2019, largely because of the GOP tax cuts and the bipartisan $1.3 trillion spending package approved last month, according to updated projections released Monday by the Congressional Budget Office (CBO).

The $804 billion deficit this year would be a $139 billion increase over 2017, with the total representing 4 percent of gross domestic product (GDP).

In 2019, deficits would rise to $981 billion before peaking at 5.4 percent of GDP in 2022, according to the CBO's "Budget and Economic Outlook" report.

Deficits would hover around 5 percent through the end of the decade.

http://thehill.com/policy/finance/382309-budget-deficit-to-hit-804b-after-tax-cuts-spending-hikes#comment-3846775512

The King of Debt meets trickle on economics

[SHRED]

1. That's what Republicans do

They leave the next Democratic Party administration a huge debt.

[shirleye]

2. that's if the economy keeps riding a wave imagine if we hit a slump!

[spanone]

3. And the punchline is.....The Party of Fiscal Responsibility

[onethatcares]

4. I should get a $256K paycheck from congress

hell, I knew the debt was going to grow as soon as the pukes took over the 3 branches of government.

and I'm just a carpenter.

[Skittles]

5. Mission Accomplished

now they will start whacking SS and Medicare