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A Mountain of Debt Best Describes Obama’s Latest Budget

Debt held by the public will go from $14.1 trillion in 2016 to $14.7 trillion in 2017 and then onto $21.3 trillion in 2026. Under the budget’s very rosy assumptions, deficits, which have already grown from $438 billion in 2015 to $616 billion in 2016, fall to $503 billion in 2017 (how deficits shrink by over $100 billion is a mystery) but they will be up to $741 billion in 2026.

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