02/01/2024
TP
Toi Pham
12 minutes ago
Rate Cut or not, inflation might be still increasing because the government keep overspending:
in WSJ today:
" House Passes Tax Cuts for Businesses, Low-Income Families."
"The federal budget deficit for the 2023 fiscal year clocked in at $2 trillion and 7.5% of GDP—roughly double what the deficit averaged as a share of the economy from 2016 to 2019. Incredibly, the deficit during the last fiscal year was $400 billion larger than the growth in nominal GDP, and it shows no signs of shrinking."
Obama and Biden have added $18 trillion to national debt and now it is about $1 trillion more every 2-3 months. Debt-ceiling has to be raised every 2-3 months and the country will be on the verge of bankruptcy like Venezuela soon or taxes on the middle class will be raised steeply.
250,000 illegal immigrants are invading the US borders every month. Ten million have invaded the US for the last three years. NYC said it spends $150,000 per immigrant. let's do some calculation: $150,000 x 10,000,000 = $1.5 trillion per year. The budget of defense is only $850 billion! No wonder the debts have been jumping up at a dizzying speed and money for defense is so tight.
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Thomas Zaleski
2 minutes ago
Excellent summation
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