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Old 12th Feb 2020, 07:47
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Asturias56
 
Join Date: Oct 2018
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"The non-partisan Congressional Budget Office provides extensive analysis of the budget and its economic effects. It has reported that large budget deficits over the next 30 years are projected to drive federal debt held by the public to unprecedented levels—from 78 percent of gross domestic product (GDP) in 2019 to 144 percent by 2049.=10.8333px The United States has the largest external debt in the world and the 14th largest government debt as % of GDP in the world. The annual budget deficit increased from $585 billion (3.2% GDP) in 2016 to $984 billion (4.7% GDP) in 2019, up 68%.[2][3] Relative to a CBO forecast prior to President Trump's inauguration, the budget deficits for 2019-2021 roughly doubled, due to the Trump tax cuts and other spending legislation. "

Another $900 mm wouldn't break the bank but it depends on how fiscally conservative Congress wants to be

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