Deficits Don’t Matter

by | Oct 11, 2019

Deficits Don’t Matter

by | Oct 11, 2019

Until they do.

The federal budget deficit for 2019 is estimated at $984 billion, a hefty 4.7 percent of gross domestic product (GDP) and the highest since 2012, the Congressional Budget Office (CBO) said on Monday.

The difference between federal spending and revenue has only ever exceeded $1 trillion four times, in the period immediately following the global financial crisis.

Estimates for the year are predicting the deficit to exceed $1.0 trillion.  The CBO keeps warning about this, but they expect the same people that cause this to fix it.  I’m not optimistic.

The CBO has warned that the nation’s debt is on an unsustainable path. Higher levels of debt increase borrowing costs, make it harder for the government to battle economic downturns and increase the share of future spending devoted to paying off interest costs.

more at The Hill

Steven Woskow

Steven Woskow

Steve Woskow is an entrepreneur and was President of Agtech Products, Inc., a research and development company specializing in animal agriculture. He has a Ph.D. in Nutrition and Food Science from Iowa State University. He is retired and lives with his family in Northern Nevada.

View all posts

Our Books

Shop books published by the Libertarian Institute.

libetarian institute longsleeve shirt

Our Books

cb0cb1ef 3fcb 417d 80d8 4eef7bbd8290

Recent Articles

Recent

Anti-War Blog – Apparently, not evil. Just War.

Anti-War Blog – Apparently, not evil. Just War.

In the past those of us distant from war could only see it in the print media and television. It was curated with the intent to gain sympathy, or conceal the brutality of those who we were supposed to be sympathetic for. As censored as it was at times graphic, though...

read more
Special Episode

Special Episode

In this special episode my wife joins me to discuss South African farm attacks and my son jumps on to discuss life as a young man trying to find his way. ALP

read more

Fat Amy Performs as Expected

The F35 continues to shine as a boondoggle and taxpayer nightmare fuel. Taiclet’s boasts to investors about the program were quickly tempered by real world events the same day when video circulated of an out of control Air Force F-35 tumbling to a fiery crash in...

read more

Pin It on Pinterest

Share This