Estimates suggest the new normal for U.S. GDP growth has dropped to between 1½ and 1¾%, noticeably slower than the typical postwar pace.
Says the FRB in SF. The IMF seems to agree.
But the ten year seems stuck above 1.5%, we pay a premium because our lenders are mostly in a different currency. So taxes grow, over ten years, at 1.5%, and our debt rows by 2-4%. We can see the Swamp is effectively bankrupt if the CBO projections of debt are realistic. Its an exclusion, an impossibility, something will give, likely entitlement benefits down and entitlement taxes up.
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