It’s been a while since America’s budget deficit has been in the headlines, but the gap between how much money the federal government brings in and how much it spends is growing once again. During fiscal year 2018, which ended on September 30, Washington ran a $779 billion deficit—the largest since 2012. We are likely to hit $1 trillion in deficit spending in the current fiscal year.
Even those massive numbers have struggled to break through in a news environment dominated by presidential tweets and the culture wars. The Manhattan Institute’s Brian Riedl is trying, however, to keep lawmakers’ eyes on the challenge. In a recent paper, he floats several ways the United States could change course before it hits the financial iceberg. But talking with Reason‘s Eric Boehm in October, Riedl explains why he thinks the ship is nonetheless more likely to sink than to veer to fiscal safety.
from Hit & Run http://bit.ly/2SkLzGB
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