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Showing posts from October 27, 2019
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Borrowing from the Grandkids By Hank Silverberg $984 billion.   That's almost a TRILLION dollars and it's the federal deficit for fiscal 2019 alone.  It’s the highest yearly deficit in seven years and $205 billion more than 2018.  It does not bode well for the future.  Thanks to the Trump tax cut, defense spending and interest payments on the shortfall, it’s the widest gap between revenue collected by the federal government and federal government spending in almost a decade. It’s the first time ever that the deficit has skyrocketed at the same time unemployment is low, revenue from corporate taxes, trade and personal income are up and the economy is relatively good. During the 2016 campaign, Donald Trump said he would eliminate the federal deficit within eight years. Instead, the man who bankrupted six of his own companies over the years and owes money to scores of vendors and workers he's never paid, has taken it the other way.  ht...

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