By Steve Brawner, © 2019 by Steve Brawner Communications, Inc.
There’s nothing more annoying than someone saying, “I told you so,” and it gives me no pleasure to do so. Well, maybe a little, but I’d much rather be wrong.
This bittersweet moment is inspired by March’s wholly foreseeable news that the federal government’s February budget deficit was the biggest ever for that month – $234 billion.
For the year, the Trump administration projects the deficit will be $1.09 trillion, a number last seen in 2012. (The Congressional Budget Office earlier projected $897 billion.) One trillion is about $3,300 for each of us, and it all will be added to the $22 trillion national debt. Your share of that amount is a little more than $67,000 – and growing by the minute.
In fact, the Trump administration projects $1 trillion deficits for each of the next four years, but even that may be a rosy scenario. Now that we’ve reached this plateau, there’s no plan to bring us down.
Last year’s deficit was $779 billion, which was bad enough. So how’d we get from there to here? Continue reading Surprise! Money did not grow on trees