US spending levels are on the rise as Congress tries to maintain budget

The Kobeissi Letter

@KobeissiLetter

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Deficit spending is on track to hit nearly 28% of GDP by 2050. Meanwhile, Federal revenue will be just ~19% as US debt levels are skyrocketing. At the current pace, the US deficit for this fiscal year will cross $3 trillion, nearly double the $1.6 trillion deficit that Congress…

David Ditch

@DavidADitch

The federal budget is a disaster, with spending growing completely out of control. The new Biden budget says "hold my ice cream cone," increasing spending by an average 1% of GDP above expected levels. Even with his brutal tax hikes, there would be permanent $1.5 trillion…