Ahead of Thursday night's Democratic debate where the economy will likely be a major focal point, Treasury Secretary Steve Mnuchin singled out 2020 Democratic hopeful and Massachusetts Senator Elizabeth Warren.
The economy has been on the rise in recent years and unemployment has remained low. However, as Americans feel the impacts of hundreds of billions of dollars in tariffs imposed on China by Trump — evidence by the billions of dollars the administration has doled out to struggling farmers — Mnuchin denied this week they were impacting the U.S. economy.
"Over the coming decade, deficits fluctuate between 4.4 percent and 4.8 percent of gross domestic product , well above the average over the past 50 years," CBO states."As a result of those deficits, federal debt held by the public is projected to grow steadily, from 79 percent of GDP in 2019 to 95 percent in 2029—its highest level since just after World War II."
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