Moody's calculates that interest payments on the national debt will consume over a quarter of federal tax revenue by 2033, up from just 9 percent last year.
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Information to talk september 19 and 20th in washington. the ongoing trade war is expected to reduce the u.s. gross domestic product. the total provides by .3%. and that could reduce the income by the average household expects year. remember, if that s true, that offsets the projections of a recession some have been making because a recession would be no growth or negative growth. the other big headline from today s report, federal budget deficits, ceo said this year s deficit will reach $960 billion, $63 billion higher than the previous estimate, which was made a few months ago. and starting next year the deficit will likely exceed $1 trillion a year. that s not the debt. that s just one year s budget shortfall. joining us to take a look at