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Markets climb a "wall of worry "Bull markets, or uptrending markets, are sometimes said to be climbing a "wall of worry," meaning stock prices are rising despite economic uncertainty, seemingly negative news, or a lack of positive news.
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Deficit headed to $3 trillion, to consume 75% of all tax revenue
Shock: Deficit headed to $3 trillion, to consume 75% of all tax revenue - Washington Examiner
As if this month’s warning that the federal budget deficit was pushing $2 trillion wasn’t bad enough, a new analysis out today shows it growing to $3 trillion in 10 years.
And worse: payment on the interest will eat three-quarters of tax revenue.
“Annual budget deficits doubled to $2 trillion over 2022–23 and are headed toward $3 trillion a decade from now. Social Security and Medicare face a combined $124 trillion cash deficit over the next 30 years. The national debt is projected to soar past 165% of gross domestic product (GDP) within three decades — or as high as 300% of GDP if interest rates remain elevated and Congress extends expiring policies.”
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The Bad News: The US Government is not committed to fix this problem because the fix is much too painful!
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Our Crushing Debt
http://roanokeslant.blogspot.com/2024/06/our-crushing-debt.html
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