Periodically, the Congressional Budget Office forecasts federal debt, revenue, and spending. For decades, the CBO has underestimated the future debt. If we adjust CBO’s forecasts by their historical error, we get a clearer picture of where the federal government’s finances will be in the next decade. Interestingly, the debt is approaching a point not seen since the first decade of our history when Congress replaced Continental dollars with the US dollar we use today.

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Quick Hits

The Irish and the Choctaw

https://www.nytimes.com/2020/05/05/world/coronavirus-ireland-native-american-tribes.html

Foolishness of the Week

Presidential Debates

https://www.washingtonpost.com/elections/2020/08/14/presidential-debates/

Topic of the Week

CBO’s Long Term Outlook

https://www.cbo.gov/publication/56516

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