It’s now history: the federal deficit for fiscal 2019 was -$984 billion. That’s an increase from the previous year of $205B, or 26 percent. And this increase in the deficit happened, mind you, despite an increase in revenue of 4 percent. Here’s more history: On the last day of the last economic expansion (Nov. 30, 2007), the Debt Held by the Public was $5.146T, and twelve years later the Debt Held by the Public was $17.105T. That’s 3.32 times higher, kids. So, twelve years, twelve trillion dollars of additional debt. What Americans need to keep in mind is that deficits are a function of both revenue and spending. Although revenue went up by 4 percent in 2019, spending went up by 8 percent; hence the deficit. Many Americans seem to not know that federal spending is controlled by Congress. Budgets, appropriations, continuing resolutions, omnibus bills, and supplementals are legislation, the province of Congress. Therefore, if one worries about debt, one...(Read Full Article)