BREAKING: The US Debt-to-GDP ratio is projected to rise to a record 156% in 2050, according to the CBO's latest forecast. That would mark a +57 percentage point increase from the current ~99%. At the same time, the Treasury Department estimates the ratio will surge to a massive 213% over the same period, or 57 percentage points higher than the CBO's estimate. Furthermore, neither estimate includes intragovernmental debt, such as Treasury securities held by Social Security and other federal trust funds. The worst part? Both forecasts assume the US avoids a recession during this entire period. US debt could be heading in a far worse direction than forecasts suggest.(The Kobeissi Letter)