The responsibility for this resides with Speaker Mike Johnson and secondarily John Thune.
The premise that deficits at this level are “structural” or “baked in” ought to be horrifying to all of us.
Bannon and Patrick float the premise that part of what is occurring in the Middle East is based upon the petrodollar supporting the dollar’s valuation and/or its status as the world’s reserve currency.
This level of spending demonstrates how the Republicans are also socialists– not just the Democrats. The entire system is corrupt.
Listen to the first 9 minutes only unless you wish to listen to a sales pitch:
I think I will hold what I’ve got in equities and CDs. Maybe gold is a sound investment but I will hold back.
Describing a govt that is a corrupt, cancerous organism. The November 2026 election will have no more effect on it than the November 2024 election did.
Bibi’s Bitch’s war is extremely destructive of $ reserve status. The Yen is under pressure BECAUSE of expensive oil. $130 oil–which may be coming when the strategic oil reserves are empty (China’s massive one is depressing the price more than anything else)–will possibly trigger a precipitous unwind of the Yen carry trade. If that happens, Katie bar the door. The S&P will crater.