We all learned about mythology in school. Unfortunately, a new mythology with some familiar themes is developing on the campaign trail.
The signs that summer is over are abundant: the community pools are closed, school is back in session, Congress returned to work, and talk of a government shutdown has intensified.
Hopefully, members of Congress enjoyed their summer break in sunny locales because they face a cloudy outlook upon their return to Washington, coming up against several fiscal deadlines this fall. If they act irresponsibly, an extra $2.5 trillion could be added to the debt beyond what is already expected over the next ten years.
When it comes to the deficit, budget watchdogs are saying of the current trajectory, “what goes down must come up.”
Things are quiet in Washington now as Congress enjoys its August recess. But storms are brewing on the horizon that may converge by the end of the year. Our latest infographic illustrates the turbulence ahead.