An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
John doesn't mention Tepper, but the profile fits. That's three in agreement, Mike, John, and me. Is Tepper talking his book, or does he know something we don't?
fiscal flows dont look too good at all right now...
We're coming off of a 20B surplus in December and mtd here in Jan is only a 39B deficit...
SS taxes (OASDI) alone in Dec were probably 100B and in Jan probably over 50B... trade deficit was probably 40B in Dec... interest on the 7T of bank loans was probably close to 25B per month ... not counting Medicare taxes which was probably a couple of tens of billions, then there are corporate retained earnings and personal and corp income taxes....
Where is the non-govt sector supposed to get all of these balances to pay taxes, imports and corp profits, and interest if the govt only has run a $19B deficit in the last two months?
this doesnt look good from the fiscal standpoint...
1 comment:
fiscal flows dont look too good at all right now...
We're coming off of a 20B surplus in December and mtd here in Jan is only a 39B deficit...
SS taxes (OASDI) alone in Dec were probably 100B and in Jan probably over 50B... trade deficit was probably 40B in Dec... interest on the 7T of bank loans was probably close to 25B per month ... not counting Medicare taxes which was probably a couple of tens of billions, then there are corporate retained earnings and personal and corp income taxes....
Where is the non-govt sector supposed to get all of these balances to pay taxes, imports and corp profits, and interest if the govt only has run a $19B deficit in the last two months?
this doesnt look good from the fiscal standpoint...
rsp,
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