"...But the facts are only worsening, which means my opinions in late 2023 are only growing stronger as we conclude the first month of 2024...
Fast forward to January 2024, and that same CBO has just announced a $509B Federal budget deficit for Q1 2024.
Folks, that adds up to annual deficit run rate of $2.2T.
Please: Re-read that last line again.
- Do the Math: DC is Getting Even Dumber
In this 12-month interim, fiscal revenues did increase by about 8%, but outlays (i.e., expenses) for that same period rose by 12%, which is just a mathematical way of saying that either:
1) Uncle Sam is out of his mind in debt; or
2) that I am out of my mind in common sense.
But it seems I’m not the alone in saying out loud what no one DC can say to themselves, namely: The US is now in an open and obvious debt spiral...
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