Huge Deficits, Massive Debt

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According to the administration’s latest budget figures, the federal government is projected to run huge annual deficits throughout the coming decade. The actual figures could end up being considerably larger, particularly if policymakers continue to justify additional budget-busting for alleged “emergencies.” As a previous blog shows, these deficits would be driven by excessive spending.

Debt held by public as percentage of GDP would also reach dangerous heights:

The Congressional Budget Office’s estimates of the president’s budget forsees even higher debt levels than the administration projects.