Day: August 21, 2019

CBO Predicts Higher Deficits than Expected

Buck Banks

$12.2 trillion

The CBO says federal deficits are projected to grow much more than expected over the next decade thanks to the two-year budget agreement lawmakers and the White House struck last month, the Wall Street Journal reports. “The agency increased its forecasts for deficits over the next decade by $809 billion, to $12.2 trillion… The increase primarily reflects higher federal spending under the new budget deal, partly offset by lower projected interest rates.”

McCain: There’s No ‘Voice of Reason’ in the GOP

Buck Banks

“That was a tough torch to carry and, as John said, there were many lonely days because he always said what was on his mind. I don’t see anybody carrying that mantle at all, I don’t see anyone carrying the voice — the voice of reason.”

— Cindy McCain, telling ABC News that no one in the Republican Party has become the party’s “voice of reason” after her husband’s death last year.

Trump in Hot Water with Farmers Over Biofuels

Buck Banks

31

“President Trump ordered cabinet members on Monday to stem the tide of rising anger in Iowa and other Farm Belt states over his administration’s decision to allow numerous oil refiners to mix less ethanol into their gasoline,” Reuters reports. “About a week ago, the administration granted 31 exemptions from the nation’s biofuel laws to 31 refineries.”