The US is now spending 44% of GDP per year, the same levels ...
The US is now spending 44% of GDP per year, the same levels as World War 2. Deficit spending alone is a massive 6% of GDP per year. This means that after just ~8 years, the US deficit will grow by HALF of the US GDP. Since the debt ceiling crisis, the US has been borrowing ~$14 billion PER DAY to cover deficit spending. By 2033, Bloomberg projects deficit spending will be ~7% of GDP. The US is spending like we are in a recession while calling for a "soft landing." How does this make any sense?