Tuesday, May 30, 2017
The Trump Budget
This shows a surplus in 2027. I don't believe it will pass but one can always dream. In addition to the political problems with passing the budget, it doesn't have any room for a recession.
My forecast is still for the system to have a full-blown crisis in 2029 because of defaulting on Social Security payments. Even the rosy Trump budget above shows a $350 billion hole in Social Security in 2027, increasing at the rate of $50 billion+ per year.
I think that there will be another 2008-style recession starting in 2018, and from 2019 on out we will have trillion dollar deficits and rapidly increasing. I hope I am wrong.
Posted by Nathan Vanderhoofven at 9:17:00 PM