The basic picture has not changed — if the US doesn’t cut the deficit to 3% of the GDP, and soon, we risk facing an economic heart attack in the next three years.
The good news is that these cuts are possible. If we change spending and income (tax returns) by 4% while the economy is still good, the interest rate will go down as a result and we’ll be in a much better situation.
And we know this kind of balance is possible because it happened between 1991-1998.
My fear is that we will probably not make these needed cuts due to political reasons, and will have even more debt and debt service encroaching on our spending that will ultimately lead to a serious supply-demand problem.
1k turned into 450k-- Institutional Investors are gobbling up single-family homes, which is part of the reason why buying a home has become that much tougher for the average person. #housing
Watching "Rudy" before Notre Dame plays Championship game.- My sister Ximena immigrated at the age of 9. She learned the language, attended an inner city HS and 10 years later attended ND. She graduated 1998. -Here is to the underdogs that never give up on their dreams! #Ximena
My Penn State/Notre Dame ticket stub from 2006. A game I watched with my brother, Penn State alumnus @ my sister's alma matter ND ❤️ -- Rematch next week @ CFBPlayoff semi-final game. #nitanylions#FightingIrish 🦁 🍀 🏈 #XimeND1998