Yesterday the US government’s own Congressional Budget Office (CBO) published a pretty sobering report about the state of Uncle Sam’s finances– and what the future holds. According to the CBO, the federal government’s spending habits are in such dire straits that its total budget deficit will exceed $1 trillion by 2020. That’s just two years away. The budget deficit, of course, is the amount of money that the government overspends each year. The IRS collects taxes from businesses and individuals, and then the government spends enormous sums of money across various programs– from the national parks to Medicare. For the past several decades, the government has spent FAR more than … Continue reading US government says its budget deficit will PERMANENTLY exceed $1 trillion