At the current pace, US debt could hit $40 trillion within the next 2 years.
Calls for major spending cuts are growing, but not being acted on yet.
We are on an unsustainable fiscal path.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) November 27, 2024
Over $70 Trillion in Unfunded Obligations
Over the next 75 years, US taxpayers face $73.2 trillion in long-term unfunded obligations.
Current policy is unsustainable as debt would exceed 500% of GDP by 2098, per Cato Institute.
These unfunded obligations are driven by two… pic.twitter.com/Tk2OOaQrMb
— Reef Insights (@ReefInsights) August 30, 2024
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