In the same year the US is on track for ~$1 trillion in interest expense, tax receipts hit a 3Y low.
Meanwhile, spending is rising at one of the fastest paces in history.
In 10 years, the US will have $50 trillion of debt.
Follow us @KobeissiLetter for more as this develops.
— The Kobeissi Letter (@KobeissiLetter) July 16, 2023
WHY is stock market taking off? Because “Debt Ceiling” removed. Means national debt to rise with stock market. Rich get richer as America gets poorer. Sad. Sticking with real money & real assets: Gold, Silver, Bitcoin.
— Robert Kiyosaki (@theRealKiyosaki) July 14, 2023
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