The Most Fresh & Cordial Political Thread Ever

[Chico23231]

Explosive piece in the Washington Post (by

@JStein_WaPo
assisted by
@BudgetHawks
) showing that the budget deficit is set to 𝒅𝒐𝒖𝒃𝒍𝒆 to $2 trillion this year.

This is basically unprecedented in U.S. history during relative peace and prosperity.

What happened was falling revenues as inflation came back down, a massive spending spree by President Biden and Congress, and soaring interest rates that *doubled* Washington's net interest costs in just two years

But really, the bill is coming for past decisions - massive Social Security & Medicare costs for retiring baby boomers, and continued fiscal expansions by politicians who believed that government borrowing was free because interest rates would keep falling forever. So wrong.

This chart doesn’t include the attempted illegal tax payer bailout student loan Biden tried.