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Insightful weekly commentary on news & current events from economist Antony Davies and political scientist James R. Harrigan.

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Our Ever-Expanding National Debt

October 21, 2020

Periodically, the Congressional Budget Office forecasts federal debt, revenue, and spending. For decades, the CBO has underestimated the future debt. If we adjust CBO’s forecasts by their historical error, we get a clearer picture of where the federal government’s finances will be in the next decade. Interestingly, the debt is approaching a point not seen since the first decade of our history when Congress replaced Continental dollars with the US dollar we use today.

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