Yesterday, 07:06 PM
CBO predicts over 6 percent inflation rest of this yr , over 3 percent next yr and that is factoring in 2 1/2 percent Fed interest increase. CBO predicts 1.2 trillion per yr in interest to service debt by 2032 or more than the current defense spending . CBO cites too much spending and too little action by the fed ( all very true ) however I think 3.1 inflation for 2023 could be optimistic. They seem to think the good news is the low unemployment but really the labor participation rate is not a positive and the CBO admits that the growing debt is out of control going into the future. Basically GDP has not ( dismal for years now ) and will not save the future as the main spending will become interest on debt .That is a failed economic model. CBO budget Director will testify tomorrow to House Budget Committee on the newest report of failure . The failed house will then do nothing positive .
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