Colorado Politics

Bennet calls Trump financially reckless as US deficit reaches $1 trillion

Michael Bennet is firing off on President Donald Trump following estimates that the federal deficit will top $1 trillion.

The federal budget deficit is currently $960 billion and is projected to average $1.2 trillion between 2020 and 2029, according to a report by the Congressional Budget Office. These deficits are well above the average over the past 50 years, the report states.

Bennet took to Twitter on Wednesday evening to share his opinion on the matter.

As a result of those deficits, federal debt is predicted to grow from 79% of GDP in 2019 to 95% in 2029, which is the highest its been since just after World War II, the report notes.

The report does highlight the expected growth of the gross domestic product as a positive indicator of the economy’s health, projecting it to grow by 2.3% in 2019 – a move that would  support “strong labor market conditions that feature low unemployment and rising wages.”

Trump has continually said that the economy is doing very well under his presidency.

Democratic presidential candidate Sen. Michael Bennet speaks at the Presidential Gun Sense Forum, Saturday, Aug. 10, 2019, in Des Moines, Iowa.
(AP Photo/Charlie Neibergall)
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