The Federal Budget Deficit is about to Hit Record-Breaking Levels (Again) — Here’s Why

Source: Foundation for Economic Education
by Brad Polumbo

“[A]ll Americans should be seriously concerned to learn that the debt will further explode in 2021. But why exactly are this year’s figures going to be so extreme? After years of fiscal irresponsibility under Republicans and Democrats alike and with large entitlement programs spiraling toward bankruptcy, we were always going to run a large deficit in 2021, like we did in 2018, 2019, etc. But it wasn’t going to be so astronomical, like $3 trillion. What changed? One big factor is the multi-trillion-dollar spending package President Biden and Democrats in Congress forced through in the name of ‘COVID-19 relief’ and ‘stimulus.’ In reality, the package was full of unrelated waste and partisan projects. In reality, the package was full of unrelated waste and partisan projects. … it did do one thing successfully: spend trillions of taxpayer dollars.” (07/07/21)

https://fee.org/articles/the-federal-budget-deficit-is-about-to-hit-record-breaking-levels-again-here-s-why/