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US deficit suggests impending economic avalanche

As many of the world economies teeter on the brink of a recession, the richest economy in the world is flirting with stagflation — growing inflation without economic growth — and a trillion-dollar national debt that threatens the…

  • Fred Shoaff
  • The Daily Illini

Due to recent tax cuts, military spending and budget conflicts between Democrats and Republicans, Donald Trump’s American economy is heading toward an “extremely imbalanced” path…

The tax cuts that were supposed to reignite the economy and create government revenue through taxes were widely ineffective and have only grown a debt that must somehow be paid off.

As the national…

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