Source: Antiwar.com
by Marc D Joffe
“Fiscal conservatives have been sounding the alarm about endemic federal deficits for years, but many also support the $95 billion supplemental foreign aid for Ukraine, Israel, and Taiwan now before Congress. Can supplemental military spending be reconciled with budget balancing? Conservative hawks think so, but their faith is not supported by budget and political realities. The Congressional Budget Office projects that annual deficits will increase from $1.5 trillion this year to almost $2.6 trillion in fiscal year 2034 and that publicly held federal debt will reach an unprecedented 166 percent of GDP by 2054.” (04/15/24)