Congressional Budget Office

Inflation, recession: Are you ready for this?

No matter your political persuasion, you might wonder whether our Congress members are fiscally irresponsible, financially oblivious, intentionally misleading or are just merely telegraphing their future plans.

In December, Congress voted in H.R. 1, the Tax Reform Act 2017, which reduced taxes a little for some, but a lot for others. There is now a big hole in federal revenues.

Then they passed H.R. 1625: Consolidated Appropriations Act 2018, which significantly increased expenses. Getting the picture? Revenues are down, expenses up.

According to the Washington Post, the Congressional Budget Office reports, “America’s deficit is rising sharply and will surpass $1...