After President Joe Biden just signed a $1,9 trillion "stimulus" bill it appears that a slight Democrat controlled CONgress is attempting to almost immediately follow that up with another $3 trillion infrastructure and health care bill.
Biden Team Prepares $3 Trillion in New Spending for the Economy https://www.nytimes.com/2021/03/22/bu...?EUR<
So $4.9 trillion in additional spending commitments (if this new bill gets passed) in under 4 months!
INSANE!
WHO IS GOING TO BUY ALL OF THOSE US TREASURIES WITH RECORD BUDGET DEFICITS? AND WHAT WILL THE FED'S BALANCE SHEET LOOK LIKE 6 MONTHS FROM NOW? A YEAR FROM NOW? 2 YEARS FROM NOW?
It also looks like Biden may lower the income threshold for the top marginal rate, to tax all individual income above $400,000 at 39.6 percent, in order to raise more revenue for his spending plans.
Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC, to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. You can also find Jason's work at his blog website at www.jasonburack.com.