Meanwhile, the market can't buy bonds fast enough
- July 202 was $63 BILLION
- Year to date deficit at $2.54 trillion vs $2.807 trillion in 2020
- Outlays $564B,m receipts $262B
These numbers are mind-bogglingly large. The big question is whether Democrats can pass anything close to a $3.5 trillion bill without major pushback from moderates.
At the same time, Biden today said his economic plan "will be fully paid for."
"This isn't going to be anything like my predecessor, whose unpaid tax cuts and other spending added nearly $8 trillion in his 4 years to the national debt...They didn't even purport to try to pay for their tax cuts."