RE:What a JokeMy Comment: A financial Crisis is the end result
‘Nothing stops this train. Nothing.’ – Lyn Alden on US deficit | Kitco News Excerpt:
The U.S. federal deficit currently stands at $35.362 trillion, its highest level in history. Despite politicians' lip service that reducing the debt is a priority, one analyst says meaningfully reducing the debt is unlikely as the world faces a potential global recession.
“The Congressional Budget Office projects structurally high deficits forever unless meaningfully addressed, despite the fact that they assume no recessions will ever occur, and deficits tend to be even larger when recessions do occur,” noted Lyn Alden, an independent investment and macroeconomic analyst.
Using a quote from the character Walter White on the popular show Breaking Bad, Alden said that when it comes to the momentum of these fiscal deficits, “Nothing stops this train. Nothing.”