The unprecedented fiscal imbalance lurking below the surface
Cato Institute/Ryan Bourne/7-12-2022
“Former Cato scholar Jagadeesh Gokhale has likened the U.S. federal debt problem to an iceberg. The official debts we see above the waterline reflect the consequences of historic borrowing. What really threatens our fiscal future are debts hidden underneath the surface: the contingent liabilities of promises that have been made to an aging population.”
USAGOLD note: A captivating infographic on government finances from the Cato Institute with some stunning projections of where we are headed. It used to be that gold investors took a great deal of interest in the inflationary implications of the U.S. national debt, but that has gone by the wayside in recent years as Fed monetary policy has taken center stage. Perhaps it is due for a comeback, though, in that much of Fed monetary policy has to do with the voracious needs of the federal government.
