A new report shows the country’s deficit continues to grow.
The Congressional Budget Office Report projects a 27% growth in the nation’s budget deficit when extrapolating out current plans for spending and taxation.
WWL’s Newell Normand talked about the new report with local financial expert Guy Williams and said, rather than increasing taxes, he feels it’s time to rein in spending.
“When we think about what's happening now, how much longer can we, kick the can down the road?” he asked during an interview that touched on some of the country’s hottest topics like Medicare, Social Security, dreamers and the Affordable Care Act.
“They've been able to sell the bonds without tremendous difficulty. But that doesn't last forever because at some point people have all the bonds they want. They want a better mix. They want some stocks and some other things,” Williams said when discussing how the nation plans to pay down its debt.
To hear the full interview, click the link above.