This is called winning to our lefties. The deficit will probably be near $2T, and that is before this latest BS.
Gonna be a trainwreck.
It said household purchasing power has fallen about $5,500 in 2022 because of inflation, while household income has only increased about $3,000. The CBO added that if interest rates remain elevated over the next two years, that can be expected to increase the costs of buying houses and cars, and will weaken the demand for workers in industries such as residential construction.
Slower growth and elevated interest rates will also mostly likely lead to higher federal budget deficits and debt. CBO simulations based on updated economic data indicate budget deficits in 2023 running higher by $200 to $300 billion, and even more in 2024.
CBOโs bleak 2023 outlook: High inflation, slower growth, larger budget deficit