Yes the economy is booming.
However, while the economy is experiencing its longest sustained expansion in American history, the federal deficit is ballooning. Normally in strong economic times, it shrinks.
The US national debt as of this posting is a record $22.5 trillion.
Meanwhile the US deficit is just over $1 trillion.
FLASHBACK. Nobody has paid attention since this segment from CBS’ “60 Minutes” in 2007.