These Were Supposed To Be Hillary’s Numbers!

Jon Blogosphere, Economy, Fiscal Policies, Government, Market Commentary, Politics

Good headlines just keep coming. The Chicago PMI index of Midwest economic activity jumps to its highest level in two years. The ADP employment report shows 216,000 new jobs added in November. US Q2 GDP growth is upgraded to a completely acceptable rate of 3.2%.
Very nice numbers all. And – had the election gone a different way – a big help in easing the transition from one Democrat administration to another. Success breeding success.
But a different number explains this apparently-accelerating expansion: US federal debt, which after growing by only $330 billion in 2015 soared by $1.38 trillion this year. For more on why this happened, see Another Election Year, Another Bunch Of Fake Growth Numbers. But for now it’s enough to say that $1.3 trillion is a lot for the entire US economy to borrow in a single year. For the federal government alone to do so is huge.

This post was published at DollarCollapse on NOVEMBER 30, 2016.