If there is a recession within the next 2 years, something that is almost guaranteed to happen, the deficit will skyrocket even more.
If one assumes that a recession is likely to arrive within the next two years, and that such a recession will reduce government revenues and increase spending by at least 20%, the federal deficit would easily exceed $2.5 trillion in fiscal year 2019 or 2020, not the $1 trillion currently being forecast.
Congress and the Whitehouse have chosen to greatly increase the federal deficit. As a result, if a recession arrives in the next couple of years, the government will be in a weak fiscal position to respond with stimulus. Even if a recession doesn’t arrive, the government is ensuring that an ever increasing percentage of tax revenues will go towards debt interest expenses and not actual government services and programs.
http://thesoundingline.com/taps-coogan/
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