CBO says deficit and debt could grow

Author:
Publish date:

According to the National Marine Manufacturer’s Association’s daily Currents newsletter, the latest Congressional Budget Office’s report on the federal government’s fiscal outlook generated media coverage that predicts the budget deficit and national debt will rise sharply under President Trump’s watch.

The AP reports that the CBO found “the combined effect of...Trump’s tax cuts and last month’s budget-busting spending bill is sending the government’s budget deficit toward the $1 trillion mark next year,” and the Washington Times says that “Trump has overseen a dramatic worsening of the government’s finances in his first 14 months in office, sending deficits soaring to more than $800 billion this year topping $1 trillion by 2020, and staying there every year for the foreseeable future.” That “will quickly push deficits back to the levels they were during the Obama administration, when the government was recovering from the Great Recession.”

Bloomberg News says that “even before the latest fiscal measures, the US budget gap was predicted to increase as an aging American population puts pressure on health care and retirement programs,” but to the New York Times “the flurry of recent legislation is making it difficult for Republicans to continue blaming President Barack Obama and Democrats for the government’s fiscal condition.”

Related

A Win for Gulf Reef Fish

The newly authorized DESCEND Act requires anglers to use descending gear when releasing catches in federal Gulf of Mexico waters.

Coast Guard Foundation Names Chairman

Thomas A. Allegretti will lead the non-profit’s board of directors.

In-Person Charleston Show Opens Friday

Under Covid-19 guidelines, the South Carolina boat show has a modified format for the safety of attendees and exhibitors.

Polaris Sees Q4 Surge

The powersports manufacturer had solid gains in every segment, with boat sales up 20 percent.

ABYC Updates Board

The group added a new member and elected several officers, including Nancy Cueroni as chairman.

Quick Hits: January 27, 2021

ICOMIA release its latest state of the industry report; one of the country’s largest waterjet cutting machines goes online at Maine’s Front Street Shipyard; and T-H Marine Supplies names a new national sales and marketing manager.

Q&A with Martin Bjuve

Volvo Penta of the Americas president and lifelong boater Martin Bjuve.

Changing Currents

E-mobility efforts remain centered outside of the U.S.

The Evolving Retail Culture

Finding new ways to connect with boaters.