‘Deficits which basically aren’t going to go away as far as the eye can see,’ JPMorgan CEO Jamie Dimon said, while warning of stagflation.
www.theepochtimes.com
"During his April 25 interview with The Wall Street Journal, Mr. Dimon was asked for his thoughts on whether “Bidenomics” was working.
“Partially,” he replied. “When you spend that kind of money, you’re going to have growth,” he continued, adding that he supports some of the administration’s moves on industrial policy and infrastructure.
However, he said that many Americans might not experience the benefits, while cautioning that massive government spending is inflationary.
In a similar vein, the International Monetary Fund (IMF) recently
sounded the alarm on the Biden administration’s high deficit spending, warning that America’s ballooning public debt threaten to stoke inflation and even trigger financial chaos.
Analysts at the University of Pennsylvania estimate that when America’s debt-to-GDP ratio hits around 200 percent, it will hit the point of no return—when no amount of future tax increases or spending cuts could prevent the government from defaulting on its debt."
Both parties driving the bus over the cliff. We need a president that has the cojones to veto crap bills even if their party authored them.
Save us Rand Paul.
