The Journal. Why Trump and Harris Aren’t Talking About the $1.8 Trillion Deficit
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Oct 10, 2024 
The U.S. budget deficit has reached a staggering $1.8 trillion, yet presidential candidates seem to avoid addressing it. The discussion highlights the political challenges of a looming $18 trillion deficit, often overshadowed by more immediate issues. Experts explore the historical context of national deficits and current spending trends. Both candidates propose plans likely to futher increase the deficit without offering solid strategies for management. This raises crucial questions about the future of America's fiscal policies amid ongoing economic strains.
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Defining the Deficit
- The budget deficit is the difference between government revenue and spending in a given year.
- It's currently at $1.8 trillion, meaning the U.S. spent that much more than it collected.
Popcorn Analogy
- Imagine the budget like a bowl of popcorn representing tax revenue.
- Various government programs take handfuls, leaving the bowl empty and requiring borrowing (with interest).
Deficit Consequences
- High deficits can impact interest rates, government spending, and trust in the dollar.
- They limit the government's ability to fund new programs or investments.