Liberal Forum

HarperLee » 52 minutes ago » wrote: ↑

52 minutes ago

In a recently resurfaced video from 2011, then-President Obama called on the federal government to cut wasteful government spending and programs, even the ones that "a lot of people care about.""Everyone knows that getting rid of the deficit will require some tough decisions, and that includes cutting back on billions of dollars in programs that a lot of people care about," the former president said in the 

↓nearly 14-year-old clip

.

https://www.foxnews.com/media/flashback ... t-spending

WASHINGTON — The federal budget deficit is growing faster than expected as President Trump’s spending and tax cut policies force the United States to borrow increasing sums of money.

 The deficit — the gap between what the government takes in through taxes and other sources of revenue and what it spends — will reach $960 billion for the 2019 fiscal year, which ends Sept. 30. That gap will widen to $1 trillion for the 2020 fiscal year, the Congressional Budget Office said in updated forecasts released on Wednesday.

 The updated projections show deficits rising — and damage from Mr. Trump’s tariffs mounting — faster than the office had previously predicted. In May, the budget office said it expected a deficit of $896 billion for 2019 and $892 billion for 2020.

 That damage would be even higher if not for lower-than-expected interest rates, which are reducing the amount of money the government has to pay to its lenders. Still, the 2019 deficit is projected to be 25 percent larger than it was in 2018, and the budget office predicts it will continue to rise every year through 2023


https://www.nytimes.com/2019/08/21/us/p ... roid-share