CBO: $1 Trillion Deficit

The non-partisan Congressional Budget Office now projects a U.S. budget deficit of $1 trillion in 2020. Debt scourges do their scourging from the sidelines; in today’s environment, policies are implemented by pseudo-Keynesians (who like spending, but forget Keynes’ call to cut spending, or cut taxes but forget his call to raise them). Ironically, it may take a sharp economic dislocation to make long-term thinking cool again.Learn more about your ad choices. Visit megaphone.fm/adchoices