BREAKING: Donald Trump gets NIGHTMARE economic news as a top JPMorgan strategist reveals that America is “going broke” under his disastrous leadership.
And it gets so much worse…
“The question I am asked most frequently by investors and financial advisors is, ‘When is the federal debt going to blow up in all of our faces?’ My usual answer is that, while we are going broke, we are going broke slowly,” stated J.P. Morgan Asset Management’s chief global strategist David Kelly.
Trump’s “big, beautiful bill” added dramatically to the deficit by giving kleptocratic tax cuts to the super rich so they could afford to buy more Republican politicians and yachts. Over the next 10 years the historically bad legislation will add a jaw-dropping $3.4 trillion to the national debt.
Conservatives love to rant about “fiscal responsibility” when running for office but the moment that they take power they implement the most irresponsible policies imaginable. They serve the billionaire class and they’ll gladly sell out future generations of Americans to further enrich their masters.
“Global bond markets are very well aware of the trajectory of U.S. debt. The fact that even today, the U.S. government can borrow money for 30 years at a yield of just 4.6% speaks to a conviction that there remains room for the government to borrow more,” added Kelly.
He also tore apart the Republican narrative that Trump’s tariffs will easily pay down the national debt and reduce the deficit by pointing out that they might be overturned altogether.
If the Supreme Court overturns them, Kelly predicts that it “would, at a minimum, force the administration to go back to the drawing board to impose replacement tariffs under some other authority or by sending a bill through Congress. Moreover, it could force substantial refunds of tariffs already paid in recent months.”
Meanwhile, Trump has insisted that his tariffs will “pay down the debt,” presenting them as a magical cure-all for the country’s economic woes. Instead, they’ve skyrocketed inflation and transformed the United States into a deeply unreliable trading partner, injecting chaos into global markets.
JPMorgan’s CEO Jamie Dimon has stated that the rising debt is a “big deal” and yet Republicans are still ignoring the blinking warning signs.
Kelly predicted that America’s debt-to-GDP ratio could spike above 100% by 2026, which means that we will owe more than we produce annually.
“There are good reasons to believe, however, that the debt will rise even faster than this,” he added.
But thats’s not even the worst case scenario…
“Finally, this all assumes no recession and no need for other major spending on domestic or international priorities,” he concluded.
Please retweet and ❤️ if you trust Democrats far more on economic issues!
Boyle: Mike Johnson and House Republicans have decided to do their own version of quiet quitting — they canceled session three weeks ago, they canceled session two weeks ago, and they’ve now canceled it last week and this week.
There is no strategy there other than laziness