3 ms·
>US debt ceiling deal strands $16B of defense side-projects There is currently no debt ceiling and there won't be for roughly 18 months. There is no reason to
by m348e912 3y ago
>US debt ceiling deal strands $16B of defense side-projects
There is currently no debt ceiling and there won't be for roughly 18 months. There is no reason to believe that the debt won't be anything less than $35 trillion by Jan 2025. It might be closer to 40T.
Here is what is in the spending bill:[0]
* Keep non-defense discretionary spending in the 2024 budget roughly steady at 2023 levels
* Reduction in spending for TANF (needy families)
* Greater working requirements in order to receive SNAP (food assistance) benefits
The US overspent in 2022 a total of $1.4 trillion, there is no reason why it won't be more this year and then again more in 2024 especially with continued defense spending increases, including side projects.
[0] https://www.axios.com/2023/06/01/house-passes-bill-to-raise-debt-ceiling-into-2025 https://www.axios.com/2023/06/01/house-passes-bill-to-raise-...