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.
Although the federal deficit
did decrease for three years after the passage of this law, bottoming out at $160 billion in FY 2007, the financial crisis that started that year blew that law to smithereens as federal spending and deficits skyrocketed to as high as $1.4 trillion in FY 2009 (the year of the Obama "stimulus" plan).
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.