Content adapted from this Zerohedge.com article : Source
The passage of the tax cuts by Congress and sign by Donald Trump comes with a huge pricetag. How much? $10T.
Moody's is now considering downgrading U.S. debt.
Moody's will have even greater motivation to downgrade the US as according to the forecast, total US debt is projected to rise from $20.5 trillion today to an unprecedented $29.9 trillion in 2028.
At least Congress will shoot down the proposal to opt for one that is likely more expensive.
he good news, as noted earlier, is that Trump’s proposal, which calls for higher spending on military and immigration enforcement and abandons the GOP goal of balancing the budget over decade, is expected to be ignored by Congress. What is unknown is what alternative Congress will come up with, and how much higher the 2028 debt total will end up being.
Non-adapted content of this Zerohedge.com article:
https://www.zerohedge.com/news/2018-02-12/trump-budget-sees-us-debt-hitting-30-trillion-2028
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