House Democrats Unveil $750 Billion Infrastructure Plan

$750 billion

“House Democrats on Wednesday plan to unveil a five-year, $760 billion framework for rebuilding the nation’s highways, airports and other infrastructure, laying out an election-year package with little chance of enactment after bipartisan talks with the White House on the issue failed to gain traction,” the New York Times reports.

National Debt to Rise to 98% of GDP by 2030

98%

“Sustained federal budget deficits and debt will hit the highest levels since World War II over the next decade, according to a Congressional Budget Office report,” the Wall Street Journal reports. “The government will spend $1 trillion more than it collects in 2020 and deficits will exceed that amount every year for the foreseeable future. As a share of gross domestic product, the deficit will be at least 4.3% every year through 2030. That would be the longest stretch of budget deficits exceeding 4% of GDP over the past century. … Debt held by the public will be 81% of GDP this year and is projected to reach 98% by 2030.”