The Deficit Dilemma: When Fiscal Gravity Takes Hold The United States' ballooning deficits are no longer just a domestic concern.
The recent uptick in borrowing costs and inflation pressures has sent a clear signal that the world's largest economy is now inextricably linked to the global financial system.
According to the Congressional Budget Office, the federal deficit will exceed $1 trillion for the second consecutive year, with no end in sight.