Illustration: Megan Robinson/Axios
The federal deficit is expected to nearly double this year, from about $1 trillion last year to $2 trillion for the fiscal year ending Sept. 30
Why it matters: There’s no precedent for deficits this large, as a share of the economy — outside war, deep recession or pandemic.
- The WashPost’s Jeff Stein reported Sunday on the stunning projected figure from the Committee for a Responsible Federal Budget.
Between the lines: Such huge spending imbalances contribute to high interest rates for consumers — including mortgages — in the short run.
They are housing and feeding the illegal invasion, how much is that costing?
This year? About $200 billion. That’s billion.
This was not unexpected. Just look at the trend line for the last few decades. This was very predictable.