Apr
12

Diabolical Debt

 The non-partisan Congressional Budget Office forecasts that the recently passed deficit-financed tax cuts and spending increases will boost the national debt by $1.9 trillion through 2027. Thus, debt held by the public will rise from 78% today to 96.2% of GDP by 2027 compared to 91.% before the latest fiscal changes and higher than any time since 1946. Until now, debt/GDP ratios this high only occurred during recessions or wars.

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