Deficit Surges To Over $1T In Just 5 Months Of 2021
The Atlantis Report
Deficit Surges to Over $1T in Just 5 Months of 2021 -- The Biggest Monster Bubble in History
Premiered 13 minutes ago
The Government is bankrupt; The Corporations are bankrupt; many people are bankrupt and struggling. Yet this is the best economy ever if you are in the top one percent, this is the greatest economy ever, no question about it.
Just five months into fiscal 2021, the US government has already run a budget deficit of over $1 trillion.
In a year of massive deficits, the US federal government charted its biggest monthly shortfall of fiscal year 2021 in February.
The ability of this government to pay just the interest on our national debt once it escapes these current levels will be something to keep your eye on.
Taxes will have to be raised may be dramatically, and at that point, the stock market will go south with the end game clearly seen by all. On March 1st, the US national debt eclipsed $28 trillion for the first time. According to the National Debt Clock, the debt to GDP ratio stands at 129.8%.
Despite the lack of concern in the mainstream, debt has consequences. Studies have shown that a debt to GDP ratio of over 90% retards economic growth by about 30%.
This throws cold water on the conventional “spend now worry about the debt later” mantra, along with the frequent claim that “we can grow ourselves out of the debt” now popular on both sides of the aisle in DC.
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