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The nation’s fiscal outlook looks ever bleaker, thanks in part to deficit spending during President Donald Trump’s first term, Congress’ nonpartisan budget scorekeeper projected Tuesday.
Within 16 years, the federal deficit is expected to be the largest in history, outpacing even the fiscal shortfalls that followed World War II, according to Congressional Budget Office estimates.
Debt is projected to reach 78 percent of GDP by the end of this year — the highest level since about 1950.
At this rate, that debt would actually exceed the size of the economy within a decade breaking the historic record of 106 percent
"I ran for office because I was critical of President Obama's trillion-dollar deficits," Paul said at the time. "Now we have Republicans hand-in-hand with Democrats offering us trillion-dollar deficits."
Sen. Bob Corker, R-Tennessee, called the national debt the "greatest threat to our nation" when it exceeded $20 trillion for the first time in September.
President Donald Trump and his administration are undoing the government’s rampant spending that occurred under former President Obama’s watch.
According the U.S. Treasury’s direct record, a surprising amount of money has been saved over the course of seven months. On January 20th, the day Trump was inaugurated, the total debt was $19,947,304,555,212.49. On July 30th, seven short months later, it’s at $19,844,938,940,351.37. Overall the debt has decreased by $102,365,614,861.12.
national debt level under the Obama administration, when it jumped from $10.6 trillion to $19.9 trillion, nearly doubling
My issue here is that the investors are taxpayers.
78 percent of GDP
originally posted by: Oldtimer2
a reply to: soberbacchus
So far he has already decreased the debt,you liberals don't realize that some do stay aware of facts,and you can put all your bseless articles,but they contridict your post
originally posted by: smkymcnugget420
a reply to: theantediluvian
1.2 trilling in 2 years in office vs...... $7.917 trillion in seven years. This was the fifth-largest increase, percentage-wise.
where were you then? too busy signing up for that "free" health insurance to notice?