We are in a debt trap

Our political process can’t reduce spending and/or raise taxes enough to balance the budget, so the debt grows and grows.

As it does, paying the interest plus the accumulated debt load pulls more capital away from more productive uses.

This depresses economic growth, thereby generating even more spending and debt.

This has to end, and I think it will do so in the event I’ve called The Great Reset.

John Mauldin 16 October 2020

Englund