
The Kobeissi Letter|May 15, 2025 19:32
Shocking stat of the day:
According to CRFB estimates, the House reconciliation bill will add 3.3 trillion to the public debt over the next 9 years.
If made permanent, that would increase the federal debt by a whopping 5.2 trillion by the end of Fiscal Year 2034.
This would raise annual deficits by 2.9 trillion, or 3.3 trillion if made permanent.
Therefore, the annual budget deficit could surpass 3 trillion for the first time in history in 2033.
Interest costs would increase by 1.8 trillion as a result.
The US debt crisis is set to worsen.
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