You know something(s) will be squeezed in order to bring this particular projected rise in debt down. Its time to sweat it.
https://www.msn.com/en-us/money/markets/trumps-shiny-tax-cut-plan-has-a-dollar15-trillion-problem/ar-AAtX4YM?li=BBmkt5R&ocid=spartanntpCNBC
John Harwood
3 hrs ago
Congress is speeding toward a budget plan that, in the name of cutting taxes, lets the government collect $1.5 trillion less revenue for the next 10 years.
One big problem: The government needs more revenue as it is — a lot more. The biggest reason is as simple as it is inevitable: Millions more Americans retire each year to go on Social Security and Medicare.
In January, the Congressional Budget Office projected a 2018 budget deficit of $487 billion, rising to triple that size by 2027. The cost of benefits for aging Baby Boomers propel those rising deficits.
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If so, GOP tax and budget plans would require the government — already projected to borrow another $10 trillion over the next 10 years — to borrow even more as Baby Boomers draw their checks. If the economics profession proves more accurate than Trump, the national debt will grow higher as the economy grows, not lower.