The U.S. is heading straight for a fiscal calamity in the next decade. Even if you believe the CBO’s Rosy Scenario projections – which assume that we will go 207months thru 2026 without a recession or double the longest expansion on record and nearly 4X the normal cycle length – we will still end up with $28 trillionof national debt and a $1.3 trillion annual deficit (5% of GDP) by 2026.
from Zero Hedge:
Submitted by David Stockman via Contra Corner blog,
But that’s the optimistic case! As I demonstrated recently, if you get real about all the enormous headwinds down the road—-including the virtual certainty that the Red Ponzi will have a crashing landing and take the global economy down with it—- you end up with a truly dismal picture.
To wit, just assume economic performance during the next ten years is no better or worse than the average of the last…
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