Will Biden Pursue a “Grand Bargain”?

When Biden enters office, the deficit for Trump’s last year in office could eclipse 4 trillion. This number is not just large, but over double the largest in history. While mostly due to the 2020 Stimulus, Trump’s changes to taxes and military spending, the yearly structural deficit stands at about 1 trillion in times of below average unemployment. A simple budget with no adjustments could balloon to at least 1.2 trillion because of economic conditions.

With a 4 trillion dollar deficit, there will be massive pressure to immediately address it. From nearly all quarters, the overwhelming…

--

--

Libertarian Socialist who writes about politics, economics, philosophy religion & history. Former Newspaper Columnist.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

BROKEN RECORDS: COLD CASE, COLDER SHOULDER

How Big Is The New Hunter Biden News — Not Very

Reign of The Apocalyptic Ending by anonymous

Alito Goes for the Jugular

Week 4, the Trump Dumpster Catches Fire

The Life and Times of the Filibuster

Attorney Criminal Defense

attorney criminal defense

Mask-free life 😷🗽

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Zach Toillion

Zach Toillion

Libertarian Socialist who writes about politics, economics, philosophy religion & history. Former Newspaper Columnist.

More from Medium

From WEF to Bilderberg: Alternative Media’s Greatest Hits

Pesach 5782 — The Holiday of Freedom: The Holiday of the Ger

Is it time to revive the ‘Pivot of History’?

Republicans Are Right. Stricter Gun Laws Might Not Prevent Mass Shootings.