Surging budget deficits have been driving the debt, and the CBO only expects that to get worse.
The agency forecasts a $1.6 trillion shortfall in fiscal 2024 — it is already at $855 billion through the first seven months — that will balloon to $2.6 trillion by 2034. As a share of GDP, the deficit will grow from 5.6% in the current year to 6.1% in 10 years.
“Since the Great Depression, deficits have exceeded that level only during and shortly after World War II, the 2007–2009 financial crisis, and the coronavirus pandemic,” the report stated.
CNBC: Soaring debt and deficits causing worry about threats to the economy and markets
byu/unwanted_hair inwallstreetbets
Posted by unwanted_hair
30 Comments
The U.S. has debt?.. what?.. really?
This is the first I’m hearing of it. Thank goodness we don’t use the gold standard anymore.
All in on calls for the melt up
Sell the fear!
https://preview.redd.it/ibz6c0qy1f1d1.jpeg?width=720&format=pjpg&auto=webp&s=7a3e9dde3c0c3cbcc748036301129eb248cfd358
Here we go again. I love how all the negative news are being spread when VIX is low and put/call ratio is too bullish just to get the froth out of the market. Never disappoints.
This is the same market that pumped on weaker GDP figures and higher unemployment because this increases the chances of a rate cut.
Guys is there a weekend discussion or for tomorrow?
LMAO imagine believing that any of this matters jpow will just bail us out again
These idiots are trying to fuck my calls again. We just did this shit last month.
Let’s give money to Ukraine!!!
Hmm this is news to me. Color me shocked
So bullish ?
Oh thank god! We were running out of worries. Without a wall of worries what would we climb? Fundamentals? Like some serious trader scrubs? No, sir! Not in my stock market.
And then one day the market will pay attention…
And it will be like Vincent Vega and Jules Winnfield just showed up at yer door…
“Hhmmm, now that’s a tasty burger!”
Imagine believing there will never be another market crash. lol
So calls ?
Theyre just now seeing this?
Why do you think the news is pushing that narrative so much, lol? It’s obvious propaganda.
The fed is going to end Quantitative Tightening in June. Think about that. We are about to rocket up bro.
Bullish![img](emote|t5_2th52|4258)
The money printer is ready!
No fucking shit. Yet here we are with our heads in the sand in a bull run that everyone thinks is going to go on forever.
Stock market just hit an all time high by the way. Lol.
Buying votes with taxpayer dollars is good business.
you know our debt level is only back to 2019 levels right ?
Constant gov handouts will go directly to the people that own the capital. Filthy poors will never see a dime. As someone that is not an American tax payer, I appreciate your every dollar you sent my way.
Using debt to fund growth is a good thing. This is how economies advance.
Best time to spend money before AI and robotics induced job loss causes a recession with increased borrowing/printing money which will increase inflation coupled with the tariffs on China disrupting the market driving up prices. There will be a transition period which sees inflation rise.
Then the “surprise inflation” will reduce the prior debt in real terms. Post recovery they’ll be better off with, the debt worth less getting their infrastructure projects out of the way… Preparation for the future.
I only just learnt what surprise inflation is and it’s the best robbery scheme ever.
Spend spend spend on essential infrastructure projects like transition to renewable or high speed rail.
Or have I misunderstood “surprise inflation”?
The US is trying to beat Japan so they can be #1!
Calls it is !!
Ah, yes, “people” give a shit about the deficit now. Must be an election year.