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Shocking stat of the day:
The US budget deficit has averaged 9% of GDP over the last 5 years.
Over the last 12 months alone, the budget gap has hit 7% of GDP.
This is even higher than during the 2001 or the 1980s recessions.
This comes as the US government spent a whopping
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The Kobeissi Letter
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Shocking stat of the day:
The US budget deficit has averaged 9% of GDP over the last 5 years.
Over the last 12 months alone, the budget gap has hit 7% of GDP.
This is even higher than during the 2001 or the 1980s recessions.
This comes as the US government spent a whopping $7.1 trillion over the last year, an equivalent of 24% of GDP.
The government is now running larger deficits than during an average economic downturn.
What happens if the US economy enters a recession?
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