Periodically, the Congressional Budget Office forecasts federal debt, revenue, and spending. For decades, the CBO has underestimated the future debt. If we adjust CBO’s forecasts by their historical error, we get a clearer picture of where the federal government’s finances will be in the next decade. Interestingly, the debt is approaching a point not seen since the first decade of our history when Congress replaced Continental dollars with the US dollar we use today.
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Quick Hits
The Irish and the Choctaw
https://www.nytimes.com/2020/05/05/world/coronavirus-ireland-native-american-tribes.html
Foolishness of the Week
Presidential Debates
https://www.washingtonpost.com/elections/2020/08/14/presidential-debates/
Topic of the Week
CBO’s Long Term Outlook
https://www.cbo.gov/publication/56516
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