Disaster Awaits: National Debt Will Be 6 Times The Size Of The Economy

https://i2.wp.com/shtfplan.com/wp-content/uploads/2018/08/globaldebt-e1534351245263.jpg

 

Even without changes to the current spending policy, the government’s spending is on an unsustainable path. By the time a child born in 2018 reaches retirement age, the United States national debt will be six times the size of the economy according to an analysis released this week. Continue reading

Former CBO Director: The Fall Will Be “Very Scary”, Expect A Market Crash

Rudy Penner, the former director of the Congressional Budget Office and the person described by MarketNews international as “one of Washington’s most respected fiscal policy experts”, told MNI Wednesday in an exclusive interview that he expects a “very scary” fall 2017 due to fiscal issues, with market-disrupting battles ahead on both the debt ceiling and fiscal year 2018 spending. Penner directed the CBO under president Reagan, worked at high level posts in the White House budget office, and the Council of Economic Advisers. He is currently a fellow at the Urban Institute and sits on the board of the Committee for a Responsible Federal Budget. Continue reading