14 lines
1.3 KiB
JSON
14 lines
1.3 KiB
JSON
{
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"HubID": "4896",
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"Date": "11/2/2024",
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"HubTags": [
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"External Platform Posts",
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"Future Map Forward Guidance"
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],
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"Contacts": "",
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"Companies": "",
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"File": "",
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"Image": "4896__Image_URL.png",
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"Summary": "<p>Here is the Congressional Budget Office project growth in debt as percentage of GDP, which is the lowest we can hope for because CBO projections by law can't account for policy changes or recessions, and they assume inflation at 2.3%, which no way we can keep that low in the coming decades with resource constraints, reindustrialization and climate change. We will soon exceed the peak in WWII, but we are not in a war or in any kind of crisis. It is alarming that our debt is skyrocketing in a time of 3% GDP growth (which is quite good over the long term). This number excludes social security and Medicare trust funds that are being depleted. When they disappear in the 2030's either we add more debt to compensate, cut the federal budget or both pass new laws to lower benefits, or a combination of all three. We are way past the point where we do not avert some kind of debt crisis where we hit the wall with inability to finance more debt expansion. Best estimates are sometime at the end of this decade, but could certainly come at any time. </p>",
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"Notes": ""
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} |