CBO: Autopilot Spending To Send National Debt Soaring

The Congressional Budget Office has issued its Budget and Economic Outlook for 2019 through 2029, where it projects that for the next 10 years, the U.S. government’s spending and tax collections will each grow at an average annual rate of 5 percent a year.
What’s the problem with that? To put it bluntly, it’s the spending, which starts out at a level 23 percent higher than the federal government’s revenues. That means Americans can expect the government’s budget to bleed red ink in deficits for the next decade, a point that’s brought home by the very first figure featured in the

Read more at The Independent Institute