Fiscal Truth and Investment Consequences
Nov 18, 2019•9 min•Ep. 76
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Episode description
America’s finances have been deteriorating for almost two decades. In October 2000, the Treasury Department announced a budget surplus for the just-ended fiscal year of $236 billion or 2.3% of GDP. The federal debt amounted to just over $3.4 trillion or 34% of GDP.
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