CBO's Current Projections Don't Look Good
So the congressional. Budget Office released a forecast for the united. States for the next thirty years of economic growth and well, it doesn't look great. Cove. It is a big reason why so big picture deaths are way up and births are way down CBO is forecasting eleven million fewer people in the US and twenty twenty-fifty than in previous estimates declining population seems like something proper immigration policy could fix but I'm sleep. So outside of the covert bump, US deaths are up the report points to increasing deaths from Alzheimer's suicides and drug overdoses but also fertility is going down and CPO says that in the short term, this cove related, but it was already trending downward before the pandemic and now onto the money, the national debt in this country is growing and by twenty fifty CBO believes it will be twice the size of the. Entire yearly economy. That's because of the massive amounts of spending we're doing right now about the pandemic and then in later years if interest rates go up, that could start to pile on top of the debt for now though the Federal Reserve which sets interest rates has said they will keep them near zero for at least the next three years. But this is the kind of thing that down the road could threaten things like social security for those who rely on it most IMP. Republicans call for cuts the also projects income inequality to grow. That's because income's for the wealthy are expected to grow faster than the rest of us and their overall tax rates won't what else is new?