29 Sep 2023
Very strange to see the US spending like we are in a recession while calling for a "soft landing."
As highlighted by The Kobeissi Letter, the US is now spending 44% of GDP per year, the same levels as World War 2. Deficit spending alone is a massive 6% of GDP per year. Since the debt ceiling crisis, the US has been borrowing ~$14 billion PER DAY to cover deficit spending. By 2033, Bloomberg projects deficit spending will be ~7% of GDP... Source: CBO, The Kobeissi Letter
15 Sep 2023
US government spending increased 9% over the last year while tax receipts declined 8%. What a luxury...
Source: Charlie Bilello
11 Aug 2023
The US just published their budget numbers showing a $221 BILLION deficit in July ALONE
With $276 billion in receipts, the US spent a massive $497 billion last month. Total interest on US debt YTD is now at $726 BILLION. US spending problem is getting worse. Source: The Kobeissi Letter
