What will be impact of exploding federal deficits?

For all those who delight in lower taxes, be aware of how massive and growing federal deficits will affect you (especially in your old age), your children, grandchildren and future generations. 
"US National Economic Council Director Larry Kudlow said the federal government's budget deficits in 2019, 2020 and 2021 may increase nearly $100 billion more per year than previously forecast. The annual deficit will rise above $1 trillion starting in 2019 if those projections hold true." Reported in the Retirement Security Smartbrief that summarizes articles. This excerpt is from The Wall Street Journal: "Deficit Projected to Top $1 Trillion Starting Next Year"by Nick Timeraos. As he writes: While President Donald Trump 'used to talk about creating such great economic growth to reduce the deficit, now you see a budget acknowledging a massive run-up due to policies he has supported,' said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, which supports debt reduction.
You can be sure that the Republicans will use the growing deficits to lobby for reducing Social Security retirement benefits and Medicare.