The Congressional Budget Office estimates that by the end of this year, federal debt will reach 98 per cent of American GDP. It is expected to hit 107 per cent of GDP by 2023, surpassing the record set in 1945. The office says that without change, debt will reach 195 per cent of GDP by 2050.
Gregory Daco, chief US economist at Oxford Economics, said with the Senate remaining in the hands of Republicans, President-elect Biden would find it difficult to put in place his tax and spending proposals aimed at boosting the economy and bringing the budget under control. President-elect Joe Biden faces the toughest economy for an incoming administration since he and Barack Obama took office in early 2009."In early 2021, we expect President-elect Joe Biden will attempt to put his stamp on policy through executive actions and lobbying efforts with moderate Republicans to pass some elements of his agenda," Mr Daco said.
swrighteconomy 'Wait for it' 4 Trillion in new taxes & you honestly believe the rich will pay for all of it.
swrighteconomy That really goes for every economy if there was an election.
swrighteconomy If Trump had no money and borrowed a billion dollars he’d call himself a billionaire. Debt is nothing to him, not even an obligation that needs to be repaid.....no wonder his country is saddled with it.
swrighteconomy Poor Joe Biden,who has ongoing dementia, good luck, he's not going to be able to solve his own medical problem let alone solve Americans problems.
swrighteconomy What’s new ... ? Have you been asleep?
swrighteconomy
swrighteconomy Premature, IMO, not matter if you love or loathe realDonaldTrump If there are genuine grounds to contest the decisive seats, we will soon know. The 2000 Presidential election was only determined by Scotus decision of 12 December 2000, five weeks and a day after the election.
swrighteconomy Mind boggling to say the least