Your budget deficit is now $2T. That’s $2,000,000,000,000… every year… and $2.8T by 2034.

And remember, kids, this is the deficit, not the debt. $2T is how much the debt is worsening each year, and currently the payment just to service the interest on the debt is $1T annually. It seems to me, the only way this ends is war, landmass transfer, a Vichy-type scenario, or all of the above.  -nvp

“In CBO’s projections, the federal budget deficit in fiscal year 2024 is $1.9 trillion. Adjusted to exclude the effects of shifts in the timing of certain payments, the deficit amounts to $2.0 trillion in 2024 and grows to $2.8 trillion by 2034. With such adjustments, deficits equal 7.0 percent of gross domestic product (GDP) in 2024 and 6.5 percent of GDP in 2025. By 2027, as revenues increase faster than outlays, they drop to 5.5 percent of GDP. Thereafter, outlays generally increase faster than revenues. By 2034, the adjusted deficit equals 6.9 percent of GDP—significantly more than the 3.7 percent that deficits have averaged over the past 50 years.”

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