The tax and spending bill that has passed the House (and still awaits Senate approval) includes extending the 2017 Trump tax cuts, increasing state and local tax deductions, and adding about $350 billion in new spending to the budget, just to name a few items. It’s projected to add $3.8 trillion to the federal deficit over the next decade.
It’s the same old story, dressed up…
As for what this means for your portfolio, it speaks to something that won’t change: The same debt and fiscal problems that have defined the U.S. financial system for decades will just keep snowballing.
This post originally appeared at DailyWealth.