On the menu today: For the first time since 2018, the U.S. began the year 2025 with a Republican president, a Republican House majority, and a Republican Senate. We’re not in a recession, even if there are intermittent rattles in the economic engine. And the president appointed the world’s richest man, a man of hyperactive energy and drive, to a special advisory group focused entirely on spending cuts. On paper, this is the best opportunity for significant reductions in federal spending in many years. But it’s probably not going to happen. Yes, the work of the Department of Government Efficiency will cut a few hundred billion dollars in spending, and that’s not chopped liver. But the projected deficit for this current fiscal year is $1.9 trillion, and the “Big Beautiful Bill” will increase the deficit by $3.8 trillion over ten years. The elected leaders of this country haven’t been serious about the deficit or the debt for a long time, ...
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