Federal Budget Deficit Forecast Jumps $400 Billion, Fueled by Student Debt Forgiveness
EverettChris
Member Posts: 4,220
The Congressional Budget Office reports the 2024 budget deficit will near $2 trillion.
Budget deficit nears $2 Trillon now for 2024 thanks to Joe’s unconstitutional giveaways to rich people with student loans.
Meanwhile, my step-kids who are in their 20s pay theirs, as they should, and as I did.
In 2024, the federal budget deficit is estimated to reach nearly $2 trillion, according to new projections released by the Congressional Budget Office (CBO) this week. In February, the agency predicted that the deficit would only be $1.58 trillion. However, spending increases have caused the projected deficit to increase by $400 billion, a staggering 27 percent hike.
According to the CBO, 80 percent of the spike in the deficit can be blamed on four sources of government spending.
The largest source, responsible for $145 billion of the increase, is changes to the federal student loan program that have resulted in massive waves of federal student loan forgiveness and increased forgiveness going forward.
Second, the CBO's report details how the costs for "deposit insurance have increased by about $70 billion because the Federal Deposit Insurance Corporation (FDIC) is not recovering payments it made when resolving bank failures in 2023 and 2024 as quickly as CBO previously anticipated."
Third, an additional $60 billion in cost increases came from additional legislation. And lastly, $50 billion in increased spending came from higher-than-expected Medicaid costs.
Comments
keep voting blue and get a job at Amazon! You’ll be rich!
What a joke. Congress is joke, the administration is pathetic. The country is totally cooked.
here come the downvoters to tell us why this is a good thing.
Imagine defying the supreme court's ruling. Seems there should be a consequence besides losing the election.
People are more concerned catching the latest TikTok about transgenderism versus sky rocketing debt, out of control spending and WWIII.
Next we will hear from the downvoters about getting rid of the useless eaters.
Merrick Garland would be the one to enforce federal law and he isn’t going to do it with his head bobbing up and down on Biden’s blue pilled cock. Biden and basically all Democrats in the administration are in the clear in terms of just ignoring federal rulings and laws.
but it’s Trump who is the dictator. Regards fall for that stuff. Just look at @HHusky today when his binary worldview gets an interruption.
Step-kids?
The human genome sighs with relief.
You’re the Margaret Sanger fan, Adolph. She was a eugenics maniac and you adore her for getting rid of the children of those dirty “others” you never see, yet pretend to care about.
Dazzler's other hero loved Sanger. His name was Adolph…
It's just crazy to think the Right Wing is coming for birth control next.
Obviously.
Other than SCOTUS recently ruling against it, you’re spot on, Dipshit!
You’d think a legal mind such as yours would be up to date on current SCOTUS rulings.
Republicans actually follow SCOTUS rulings, unlike your Retard Biden and student loan handouts.
https://www.cnn.com/politics/live-news/supreme-court-abortion-pill-decision-06-13-24/index.html