Remember When the Deficit Mattered?
The (more-or-less) nonpartisan Congressional Budget Office (CBO) upwardly altered their projection for this year’s federal budget deficit by $400 billion on Tuesday. This brings the deficit forecast to $1.92 trillion for the year and marks a 27 percent increase compared to the CBO’s original estimate from the beginning of the year.
The major drivers of the shift, according to the report, are military aid to places like Ukraine and Israel as well as domestic spending on student loan forgiveness and Medicaid and the federal government’s failure to recover payments from last year’s banking crisis.
The Associated Press described the role that the handout to overeducated liberals played in the deficit increase using Orwellian language: “reducing student loan borrower balances.”
(For those of you with mortgages or credit card debt, try…
