"Toxic Combo" Of Recent Events To De-Stabilize Markets? | Luke Gromen

Wealthion - Be Financially Resilient · Aug 29, 2023 · 57m

America' is currently running an annual deficit at 9% of GDP.

That's an extremely high percentage historically and we've practically never run a deficit this high with unemployment this low. We're essentially running a wartime deficit in a peacetime economy.

And a big part of this deficit is the ballooning interest cost we're paying on servicing our national debt -- as interest rates have spiked from near 0% at the start of last year to over 5.25% today.

And it doesn't help that tax receipts are falling vs last year.

As a country, we are bringing in less income and spending more on debt…