fiscalpolicy
In this week's The Reason Roundtable, editors Matt Welch, Katherine Mangu-Ward, Nick Gillespie, and Peter Suderman lament the latest dire forecast from the Congressional Budget Office (CBO) last week forecasting a $2 trillion budget deficit in 2024. 02:31—$2 trillion federal budget deficit 21:17— Joe Biden vs. Donald Trump on immigration 37:02—Weekly Listener Question 46:23—Revisiting Anthony Fauci and COVID-19 origins 55:18—This week's cultural recommendations Mentioned in this podcast: "Federal Budget Deficit Forecast Jumps $400 Billion, Fueled by Student Debt Forgiveness," by Emma Camp "The...
Reason
Many Americans are unhappy about years of higher-than-normal inflation that have sapped buying power and reduced standards of living. Now, the Congressional Budget Office (CBO) demonstrates that a difficult culprit will make you feel poorer over the next few decades: The nearly $35 trillion (and growing) national debt. At its current trajectory, the rising national debt—and the increasing burden of making interest payments on it—will reduce Americans' future income growth by 12 percent over the next 30 years, the CBO projects in a new report. That means the average person will earn about $5,00...
Reason
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