That is 30 followed by twelve zeros. By the end of the year we will probably owe at least that amount and if the Congressional Budget Office is right, the virus will still be affecting Americans in 2021. They see at least 10% unemployment and a recession still in progress. At least two more give-aways are on-line for May and July. More will be later this year and into next year.

Regular readers know I have railed against the yearly budget deficits and exploding National Debt for years. Bush II put us back into the red with his tax cuts. When the Great Recession hit we were already running a deficit during a growing economy. Obama couldn’t raise taxes so he tried to cut expenditures. It was pretty much a bi-partisan effort to keep spending. Sequestration was proposed by the White House and finally accepted by Congress.

Trump’s increase in spending and tax cuts has sped up the flood of red ink. During a growing economy we have been growing the yearly deficit and National Debt. Before the virus hit we were on schedule for 1.2 trillion deficits. This year’s will now probably be around eight to ten trillion. Our future yearly budget payment on the debt may be a third of the government’s income! And yet Trump is looking at another tax cut!

We must have a sizable tax increase to pay down the debt. America can’t go on long before we are literally drowning in red ink. The Bible says to save during the seven good years for use in the seven bad years. We did not! Now we will see a “winter of discontent.” Oh, so many zeros!