President Joe Biden went on a spending binge in the homestretch of his term as the US government borrowed more than $700 billion in the first three months of fiscal year 2025. The Congressional Budget Office (CBO), a nonpartisan budget watchdog, assessed the latest federal deficit figures and concluded that Uncle Sam spent more than he did a year ago. Could President-elect Donald Trump inherit a $2.8 trillion shortfall when Sept. 30, 2025, rolls around? Unless the Department of Government Efficiency, or DOGE, tosses a Hail Mary, it looks very much possible.
Government Spending Offends Drunken Sailors
Before the Treasury Department published its monthly statement in December, the CBO released its monthly budget review. While not perfect, the organization is typically within plus or minus a few billion dollars of the official numbers, which is,…
