If the current trend of cutting taxes without decreasing entitlement programs continues, the budget deficit will likely reach or exceed $2 trillion within the next ten years. It will bloat from 3.8 percent of GDP in 2018 to an excess of 7 percent of GDP in a decade. By 2018, the budget deficit will reach 10.5 percent of GDP. Within 20 years, the national debt with be 148 percent of GDP. Americans will become hostage to massive spending and out-of-control debt. With Democrats viewing increased spending and more government expansion as a magic carpet ride, the debt explosion may already be in sight. Their siren song of “Medicare for all” is attracting a great deal of favorable attention.
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This is not going to bode well for the future of the USA.
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