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U.S. Government adds $587 Billion to Its Debt in 2016: Revealing a Fault-line in Democracy
Monday, October 17, 2016 13:32
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The U.S. federal-budget deficit for the fiscal year that ended at the end of September, 2016, represented a reversal on the six-year run of declining deficits. The $587 billion deficit is equivalent to 3.2% of GNP; the previous year’s deficit had been $438 billion, which is 2.5 percent of the GNP.[1]The underlying reason for the altered trend has to do with democracy itself—something notoriously difficult to budge.
The full essay is at “U.S. Budget Deficit of $587 Billion.”
1. Jackie Calmes, “U.S. Deficit Increases to $587 Billion, Ending Downward Trend,” The New York Times, October 14, 2016.
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Source: http://roguepolitics.com/the-worden-report/2016/10/17/u-s-government-adds-587-billion-to-its-debt-in-2016-revealing-a-fault-line-in-democracy/
