The Bipartisan Budget Act of 2018 was a bad deal that added significantly to the national debt, which was already on an unsustainable course. One small consolation was the creation of a special committee to recommend reforms to improve the broken federal budget and government spending process.
Starting in North Carolina and Colorado, we are going around the country.
Legislation passed in December and other developments have set the stage for higher deficits and national debt. Trillion-dollar deficits could now return as early as next fiscal year and the debt could exceed the size of the economy within a decade. We have a rundown on what could run up the debt and other happenings related to the federal budget.
It is clear that the final tax bill in Congress falls well short of being fiscally responsible or reforming the tax code, as supporters initially promised.
Congress is on the cusp of passing tax legislation. But prominent voices continue to call for a better approach.
National Debt and You