Gross Domestic Income GDI Suggests the US Is In Recession Right Now (While Uniparty Agrees In Principle To Avoid Debt Default) – Confounded Interest – Anthony B. Sanders

Well, Biden and McCarthy have agreed in principle to a budget revision, raise the debt ceiling and avoid a US debt default. The Uniparty strikes again! No restraint of reckless Federal spending t speak of . The big donor class wins and middle class Americans lose.

Mike Shedlock (aka, Mish) makes a good point: the US is already in recession if we look at GDI (gross domestic income) rather than GDP (gross domestic product). The US has already declined two consecutive quarters in terms of negative GDI growth.

Mish’s chart:

The Uniparty heads.