Another year, another massive, totally unsustainable national deficit.
As 2019 comes to a close, the federal government is running deficits that make the mostly fiscally irresponsible George W. Bush administration look like deficit hawks.
In the 2018-19 fiscal year, the federal government spent $984 billion more than it received in revenues, the highest deficit since 2012 when the economy was still in the midst of recovering from the 2008 economic crash. And there are no signs that the national government will soon come to its senses. Projections for 2020 show the national deficit will likely swell beyond $1 trillion.