Are the Feds Serious About Their Spending Plans?

Feb 5, 2024 | Macro Insights, No Bull Economics

CBO 10 Year Spending Plan Post Banner

In this post, we look at the projected growth of government spending by the largest spending categories according to the Congressional Budget Office (CBO) over the next 10 years. Uncle Sam needs a reality check…

Commentary

  • We have been saying for some time that government spending must decline for the federal government to avoid bankruptcy. A quick look at the table below shows that Uncle Sam has gone off the rails & is quickly speeding towards insolvency, probably much faster than the 20 years that UPENN gives the government to get their financial house in order.
  • We have a simple plan to return the government back to sanity (see this post).
  • In any case, perhaps the country’s salvation may come in the form of a Convention of States that is gaining momentum in its pursuit of forcing a constitutional amendment to balance the budget (see this post).

CBO Budget Category $MM

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