America’s long-term national debt problem could lead to economic Armageddon. The misguided belief that we are actually paying down our debt is giving this administration a false sense of security.
We can have all the growth we can muster in our GDP but if we are spending more than what’s coming in, the debt will only keep building. The days of growing our way out of debt were lost $5 trillion ago. This week the CBO announced that for the first four months of the government’s fiscal year ending in January we had created a deficit of $1.2 trillion. As a matter of fact, we have had some of the best GDP numbers in over a decade prior to President Trump coming into office. We also had unexpected income in the billions of dollars from tariffs and we have even seen some cuts in several government department budgets. But still, almost month after month, we see deficits........To Read More......
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