Representative Alexandria Ocasio-Cortez (D-N.Y.) doesn't seem to understand that the
federal deficit spending/borrowing she applauds leads to the dollar losing value and is the cause of her apparent monetary woe.
In a CNBC interview, he thinks that the
federal deficit is growing at a pace that is not sustainable at the same time that the Fed "has been on a suicide mission" hiking rates that will compound the deficit when the debt is rolled over.
One item that seems to have been forgotten, or at least received very little press coverage, is that despite having a very strong economy, the
federal deficit is going up at a time it would be expected to be dropping.
The Washington Posts Jeff Stein reported earlier this month that congressional Republicans will aim next year to reduce spending on both federal health care and anti-poverty programs, citing the need to reduce the
federal deficit.
Starting 2017-18, in three years, the
federal deficit would be brought down to 4% of GDP and thereafter to 3.5 percent.
Making it permanent would eliminate uncertainty for businesses, but some legislators were concerned that the extension, which is projected to cost $155.5 billion over 10 years, would inflate the
federal deficit. The approval of the full House and the Senate are required for the measure to become law.
The Congressional Budget Office has produced a report on options that congressional budget officials may want to consider for reducing the
federal deficit in coming years.
The projections released earlier this month by the Congressional Budget Office (CBO) indicate that under current law, the
federal deficit will narrow from seven percent of gross domestic product (GDP) last year to 2.5 percent in fiscal 2015.
Meeting at the Association of Equipment Manufacturers (AEM) 2012 Annual Conference in Rancho Palos Verdes, Calif., the AEM Board of Directors established
federal deficit reduction as its top policy priority headed into the new year.
With more than 80 new members taking office in early January, Congress will renew the focus on reducing the
federal deficit through program cuts and revenue raisers that could detrimentally impact nonprofit arts organizations.
The number of Americans who said that unemployment or the economy was their top concern has been cut nearly in half over the past two years, as worries about the
federal deficit and government dysfunction take over, the report added.