Mortgage debt relief programs fail to address mortgage-related debt, says CBO report

The Hill article The House Budget Committee released its first-ever analysis of the 2018 federal budget, but its analysis shows the Trump administration is not getting any relief from the government’s borrowing limit.

The budget office’s report said the federal government would not be able to make any substantial reductions in borrowing in 2019 or 2020 because the Treasury Department and Congress have not yet reached an agreement on how much the government should borrow to meet the debt ceiling.

The $1.1 trillion in borrowing would have to be paid back by 2026, meaning it would take about 18 months to pay back the debt.

The CBO said the 2019 deficit would be $1 trillion higher than the budget office projected.

The report found that the federal debt has grown by $1,957 billion in the last two years, while the deficit has remained the same.

That means the government has more money to spend, but it has fewer spending cuts to balance the budget.

In 2018, Congress approved the biggest debt-reduction package in history, but the House passed it in September, leaving the Senate unable to pass its own measure.

The Senate will not have the ability to pass the legislation until mid-January, and the House will need to act by then.

The nonpartisan CBO has repeatedly said that the government must balance the books by 2027 to avoid a government default.

The 2018 budget proposal did not include a plan to reduce the national debt, but CBO Director Keith Hall said the administration has not shown it would be feasible to do so.

“The administration’s plan is likely to reduce debt by $2 trillion over 10 years, but that increase is not expected to offset any spending cuts,” Hall wrote in the report.

“The plan does not address the problem of increasing deficits without spending reductions.

In the short term, debt will continue to grow.”

House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell are expected to make a decision on whether to support the debt-ceiling measure during their weekly weekly news conference on Thursday.

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