CBO Announces Budget Deficit will Break $1 Trillion in 2020
Another reason gold goes up? More free stuff from the government!
It was no surprise around here, but the Congressional Budget Office just announced that the 2020 deficit will break $1 trillion. For that reason, among others, gold will move higher.
But what will the presidential election bring?
John Stossel has been following the campaign promises and tallied up the additional spending proposals of the remaining presidential candidates.
Here is the breakdown of each candidate along with their proposed spending increases:
- Donald Trump $267 billion
- Joe Biden $532 billion
- Pete Buttigieg $752 billion
- Elizabeth Warren $2.8 trillion
- Bernie Sanders $4.9 trillion
By the way, and not that it matters, but before she dropped out of the race Kamala Harris was the big-spending champion. If you had a hangnail or a crack in a flowerpot, Harris would offer a federal program to fix it.
We say not that it matters, because the Federal government is already bankrupt, and facing default. It can’t sustain any more deficit financing without its creditors and the world’s dollar holders going on strike. The Fed’s rescue of the repo markets is just one sign that we are ending the game-over phase.
But if y0u do like to keep score, that’s the breakdown for now. “In the race to spend money, Bernie Sanders is the ‘winner.’ And you,” says Stossel, “are the loser.”
And that’s why you need to own gold and silver!
Click HERE to watch John Stossel’s report, MORE FREE STUFF 2020.