(Bloomberg) Democrats in Congress will likely skip this year the annual task of crafting a budget for the U.S. government amid lawmakers’ unwillingness to approve a measure sure to include huge deficits.
With the midterm elections looming and primary results showing voters in a sour mood, Congress will probably forgo passing a tax-and-spending plan for the fifth time in the last 12 years.
The government is projected run $10 trillion in deficits over the next 10 years, with interest payments on the debt forecast to quadruple to more than $900 billion annually.
US budget out of control? Democrats won't even try to craft one this year
Another contribution from my friend blbl, who sent me this amazing report. It's amazing to see the kinds of thing happening in our world... You wouldn't think that after all we've gone through since the great internet bubble, you could sill be amazed every day, would you? I'm nonetheless amazed everyday!