Congressional Budget Office Director Phillip Swagel warned during an interview on CNBC's "Squawk Box," that "the fiscal trajectory in the U.S. is not sustainable right now."
Thanks to the disastrous leadership of President Joe Biden and the massive debt that he inherited, the economy is on the verge of collapse and the American people are having flashbacks to the 2008 economic disaster.
Swagel stated during the interview, "So, we know the fiscal trajectory in the U.S. is not sustainable right now. Something has to be done." And while Swagel believes disaster can be averted, he insisted that "We have to make them."
Interest rates have been steadily rising and the pressure on the economy is growing stronger.
The only good news is that the inflation that was exponentially grown by irresponsible Democrat spending hasn't had an opportunity to spike, thanks in large part to the election year preventing major legislation.
Now, if Democrats maintain their majority after the midterm election, then Americans will have a good reason to panic. We cannot afford two more years of the spending that Democrats want.
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