The U.S. federal budget is in dire shape. The 2022 budget deficit was $1.4 trillion, and publicly held federal debt is about $24.6 trillion — roughly equal to 94 percent of GDP. And that doesn’t include the other approximately $6.9 trillion in debt credited to Social Security, Medicare, and other government programs. Congress must eventually address this imbalance by increasing revenue, reducing spending, or both. Instead of increasing taxes, the government should increase revenue by expanding legal immigration. The Congressional Budget Office rosily projects that publicly held federal debt will rise to 118 percent of GDP in 2033 — and that assumes no wars, pandemics, or other emerg
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