Sunday, November 19, 2017

Yes, Eric Toder, Congress is broke

...over the first decade... increases the deficit by 1.7 trillion dollars.... Between 2028 and 2037, the TCJA would reduce net receipts by 1.6 trillion dollars and add 920 billion dollars in additional interest costs.

OK, then we can use your numbers.  We have ten times that debt, in total.  Hence, I expect us to pay  920 billion in interest per year. This is higher than the defense budget and makes interest charges the third or fourth largest item on the budget. Congress is broke.

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