U.S. Net Debt To Exceed 110% By 2028 As Decarbonization Costs Mount 

This is where choosing carbon dioxide obsession over proper understanding of Earth’s complex and dynamic climate could be leading the unwary.
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While the latest IMF forecasts were mostly lost in the din surrounding the start of earnings season, besides the now standard cuts to global growth forecasts, there was one standout item, says Zero Hedge (via Oilprice.com).

As National Bank of Canada points out, the IMF’s projections forecast U.S. net debt to rise from 95% of GDP in 2023 to 110% by 2028, which actually is a conservative estimate when comparing a similar, if even more concerning longer-term forecast from the Congressional Budget Office, which effectively projects hyperinflation.

But while the fate of US debt/GDP in 2050 may feel like someone else’s problem to most Americans, NBC warns that a far more pressing issue may emerge as soon as a decade from today.

That’s because unless Washington raises taxes more or slashes benefits (an unlikely outcome), the Social Security fund will hit net zero – i.e., will be exhausted – in just 10 years.

Read more here.

via Tallbloke’s Talkshop


April 25, 2023 at 10:03AM

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